5645 E Grand River Avenue
Howell, MI 48843
$889,900
- Lot
- 1.00 acres
- Year built
- 1950
- Property type
- 5+ Units
- County
- Livingston
- MLS #
- 26057768
- Days on market
- 8
About this home
NEW ROOF + TANKLESS WATER HEATER: Turnkey 10-unit multifamily investment property — fully occupied, cash-flowing, and priced to move at an 11.68% cap rate. This stabilized apartment building in Howell, MI delivers $136,392 in gross scheduled rental income ($11,366/month) and $103,897 in net operating income (NOI), making it an exceptional value-add alternative for the 1031 exchange buyer or passive income investor seeking a low-maintenance, income-producing asset. Unit mix: 3 studio units + 7 one-bedroom/one-bath units — a diversified, in-demand mix that appeals to a broad tenant base and supports strong occupancy. 100% occupied with a stable, diversified rent roll: a mix of Section 8 / state-paid housing assistance tenants and conventional month-to-month tenants, providing reliable, partially government-backed cash flow with built-in rent stability.
Listing courtesy of United Realty Services · MichRIC · Listing agent: Ryann Brier
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.