8721 N 2nd Street, Brighton, MI 48116

Property Description

Looking for a premier investment property in Brighton, MI? This cash-flowing multifamily duplex is perfectly positioned just a short walk to the Mill Pond and popular shops and restaurants in downtown Brighton. The financials on this two-story farmhouse-style income property work beautifully right out of the gate. The building features two existing rental units, each with its own separate private entrance. Electric and Gas utilities are completely split, as the property is already equipped with two furnaces and two hot water heaters. The biggest draw for real estate investors is the massive value-add potential. The city building department has indicated it might be possible to convert the attached 4 car garage space into a brand-new two-bedroom, two-bathroom apartment. Completing this build-out would add an estimated $1,850 a month to your rent roll, completely transforming your cap rate and forcing serious equity into the building.The property sits on a spacious 0.27-acre fenced lot in Livingston County. There is no shortage of tenant parking, featuring an oversized parking pad alongside two additional driveways. Whether you want a turnkey rental property for steady passive income or want to tackle the garage conversion to maximize your cash flow, this downtown Brighton real estate investment makes perfect sense.