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.
Active
Price cut: $100K (9/27)
$999,999
504-506 S 1st St, Jackson, MI 49203
12beds
8baths
4,880sqft
5+ Units
Built in 1930
-- sqft lot
$-- Zestimate®
$205/sqft
$-- HOA
What's special
- 100 days
- 215
- 10
Zillow last checked:
Listing updated:
Listed by:
Jennifer Chmielewski 517-937-5232,
ERA Reardon Realty, L.L.C. 517-782-2996
Source: MichRIC,MLS#: 26030627
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 12
- Bathrooms: 8
Heating
- Baseboard, Radiant
Appliances
- Laundry: Gas Dryer Hookup, In Basement, Washer Hookup
Features
- Basement: Full
Interior area
- Total interior livable area: 4,880 sqft
Property
Parking
- Total spaces: 12
- Parking features: Asphalt, Driveway
Lot
- Size: 8,276 Square Feet
- Dimensions: 62 x 135
Details
- Parcel number: 3000700000 & 3000800000
Construction
Type & style
- Home type: MultiFamily
- Property subtype: 5+ Units
Materials
- Wood Siding, Other
Condition
- New construction: No
- Year built: 1930
Utilities & green energy
- Sewer: Public Sewer
- Utilities for property: Natural Gas Available, Electricity Available, Natural Gas Connected, Electricity Connected
Community & HOA
Location
- Region: Jackson
Financial & listing details
- Price per square foot: $205/sqft
- Tax assessed value: $91,100
- Annual tax amount: $1,753
- Date on market: 6/19/2026
- Listing terms: Cash,Conventional,Contract
- Tenant pays: Electricity, Gas
- Electric utility on property: Yes
Estimated market value
Not available
Estimated sales range
Not available
$1,220/mo
Price history
| Date | Event | Price |
|---|---|---|
| 9/27/2026 | Price change | $999,999-9.1%$205/sqft |
Source:  MichRIC #26030627 Report a problem | ||
| 6/19/2026 | Listed for sale | $1,100,000$225/sqft |
Source: MichRIC #26030627 Report a problem | ||
Public tax history
Tax history is unavailable.
Monthly payment
Est. payment
