20
See all 20 photos
$210,000
Est. payment /mo
8 Beds
4 Baths
3,731 SqFt
New
45 Fountain W ST Battle Creek, MI 49037
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your advisor will contact you to discuss available opportunities.
In-PersonVirtual Tour
UPDATED:
Key Details
Property Type Multi-Family
Sub Type MultiFamily
Listing Status Active
Purchase Type For Sale
Square Footage 3,731 sqft
Price per Sqft $56
Subdivision Meachems Add
MLS Listing ID 61050208473
Bedrooms 8
Full Baths 4
Year Built 1940
Lot Size 0.290 Acres
Acres 0.29
Property Sub-Type MultiFamily
Property Description
Attention investors - this is the cash-flowing, value-add opportunity you've been waiting for. This fully occupied 4-unit apartment complex sits on two parcels (43 & 45 E Fountain) totaling approximately 4,300 sq ft and includes a bonus extra lot plus a 4-car garage with its own electric service. Owned by the same family for 16 years, this property has a proven rental history and long-term tenants - including one resident of 30+ years. The unit mix includes three 2-bedroom/1-bath units and one 1-bedroom/1-bath unit, all currently leased month-to-month - giving your next buyer immediate flexibility to adjust rents, restructure leases, or reposition the asset. Current gross rents are $3,750/month ($45,000/year) and are already below market, with rents moving to $900"“$1,150 per unit - meaning day-one upside is already built in. Each unit is separately heated with its own furnace. Tenants pay gas and electric; owner covers water only - keeping expenses lean. Annual property taxes are just $2,900. Estimated annual expenses including taxes, water, vacancy allowance (5%), and maintenance come in around $9,950, producing an estimated Net Operating Income (NOI) of $35,050 per year. At the $210,000 asking price, that's a cap rate of approximately 16.7% - exceptional for this market. a cash-on-cash return of nearly 50%. The property features a Michigan basement on one side and a walkable basement on the other, providing excellent utility access and storage. Each of the four units has its own furnace. The 4-car garage with separate electric service adds rental income potential or owner utility. One tax bill covers both parcels - keeping management simple.
Location
State MI
County Calhoun
Area Area96061Battlecreek
Interior
Heating Forced Air, Natural Gas, Separate Meters
Fireplace No
Exterior
Parking Features FourCarGarage, Detached
Garage Spaces 4.0
View Y/N No
Building
Foundation Basement
Sewer Public Sewer
Water Public
New Construction No
Schools
School District Battle Creek
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition ShortSaleNo, Standard
©2026 Realcomp II Ltd. Shareholders
Listed by Troy Schearer of JPAR - Great Lakes Bay Region
NEARBY SCHOOL & BUSINESS
GET MORE INFORMATION