504-506*** 1st Street
Jackson, MI 49203
$999,999
- Lot
- 0.19 acres
- Year built
- 1930
- Property type
- 5+ Units
- County
- Jackson
- MLS #
- 26030627
- Days on market
- 141
About this home
Income-producing 12-unit multifamily portfolio featuring an 8-unit building at 504-506 First St. and a 4-unit building at 510 First St. Offered as one package, this value-add investment provides immediate cash flow with upside potential through continued stabilization and rent optimization. Current gross income is approximately $101,000 annually with a current NOI of $63,000 and a 5.75% cap rate. Seller projections indicate potential stabilization to over $105,000 NOI and a cap rate approaching 9.6%. Located in a strong rental market with high renter occupancy, limited inventory, and consistent housing demand. Excellent opportunity for investors seeking workforce housing, multifamily assets, portfolio expansion, or a 1031 exchange acquisition in Jackson, Michigan.
Listing courtesy of ERA REARDON REALTY, L.L.C. · MichRIC · Listing agent: Jennifer Chmielewski
Listing data is provided through the IDX programs of MichRIC, Realcomp, MiRealSource, Northern Great Lakes MLS, and Greater Lansing REALTORS. Information is deemed reliable but not guaranteed and should be independently verified. Listings held by brokerages other than Bergrand Realty are marked with the listing brokerage's name. Last updated November 8, 2026.