Property Back to Market Report Property

16001 Dixie Hwy, Groveland Township, MI 48442

$855,000
: 9
BA
: 2,835
SqFt

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Sold Price: $855,000
List Price: $900,000
Closing Date: Jun 25, 2026
MLS#: 20261009360
Status: CLOSED
Bathrooms: 9

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Property Description

This cash flowing multifamily property is located in Holly, Michigan. The property consists of nine efficiency units on approximately 2.20 acres across two parcels with excess land and commercial zoning (buyer to verify). Units are in constant demand due to limited available housing supply in the submarket. In 2025, 7 of the 9 units were renovated. Average rents are approximately $1,085 per unit per month. The asking price reflects both the excess land value and a 7.97% cap rate on in-place financials. Owner pays water, gas, and trash; electric separately metered. Do not disturb tenants. Contact listing broker for financials.

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Additional Information

Year Built: 1950
Acres: 2.20
Style: Other
Acres: 2.20
School District: Holly
Heating: Baseboard, Propane