Great investment opportunity to own a fourplex with strong income potential! This fourplex features two 2-bedroom units and two 1-bedroom units, with two units currently occupied - one renting for $950/month (lower 2 bedroom) and one for $750/month (upper 1 bedroom), both with recently renewed leases. Projected total rental income is approximately $3,400 per month when fully occupied. Each unit is separately metered for electricity, with tenants paying their own utilities, and water is included in rent. Upstairs units offer private balconies, adding tenant appeal. There is a basement with laundry hookups available, along with a rear parking area for tenants. New soffits and gutters (2025). An additional lot behind the parking area provides the opportunity to split and sell or build another home, offering added value and future upside to buyers!
Memphis is located in Michigan. Memphis, Michigan has a population of 1,050. Memphis is more family-centric than the surrounding county with 33.88% of the households containing married families with children. The county average for households married with children is 28.44%.
The median household income in Memphis, Michigan is $52,868. The median household income for the surrounding county is $67,828 compared to the national median of $69,021. The median age of people living in Memphis is 46.6 years.
The average high temperature in July is 81.8 degrees, with an average low temperature in January of 14.1 degrees. The average rainfall is approximately 33.4 inches per year, with 36.6 inches of snow per year.
