About 710 Water Street
Positioned in East Jordan, this turn-key 4-unit townhouse complex built in 2023 offers a high-yield investment with strong existing cash flow and upside potential. Generates $8,700/month with a projected 2026 gross income of $102,400. At the $1,190,000 asking price, this property delivers an attractive 11.62 Gross Rent Multiplier (GRM), outperforming regional market averages for low-maintenance, new-construction multi-family assets. Each unit features high-end finishes, natural gas forced-air heat, central air conditioning, dedicated carports, private rear decks, full appliance packages (new in 2023), and independent utility metering. Three units offer a 3-bedroom, 2.5-bathroom layout with private ensuite bedrooms, while the fourth unit is a 2-bedroom, 2.5-bathroom layout with dual ensuite baths. * **Proven Cash Flow & Stability:** Units 3 and 4 feature long-term, reliable tenants of three years. Other two units have been occupied consistently by different tenants. Units 3 and 4 feature long-term, reliable tenants of three years, while the other two units have been occupied consistently by different tenants. Turn-key options are available, as Unit one and 4 are conveyed fully furnished. For an exit strategy and development upside, the structure was specifically engineered with a 2-hour fire-rated separation wall between units to allow future condo conversion, giving a buyer the option to sell off individual townhomes down the road for maximum capital return. Site plan available upon request. Municipal infrastructure includes a low-maintenance exterior with city water and city sewer service. Seller is a licensed Realtor in the State of Michigan.
