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Sold on 09/20/2020

501 Broadway, Niles, MI 49120

$200,000

Last sold 09/20/2020 for $129K

  • —

    bed

  • —

    bath

  • 3,360

    Sqft ($38/Sqft)

Multi-family not for sale
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About 501 Broadway

Property type Multi-family
Neighborhood
Year built 1997
HOA fee $0/month
Lot size 5,227 Sqft
Movoto estimate
Rental estimate
Property description
Great investment opportunity located on a corner lot near the downtown Niles area. This well-maintained 4 unit rental property is fully rented with reliable tenants. With low vacancy rates, positive cash flow and 20 years of rental history. Offers 1- 2 bedroom unit, 3- 1 bedroom units with on-site coin laundry in the full basement for additional income. 4 parking spots on the asphalt drive. Nice hardwood floors on the main level and lots of character throughout. Each unit comes with fridge, stove and window a/c unit. Furnace was replaced 6 years ago.
Listed by
Listing Agent - Our Team
Listing Office - IREP ERA Powered
Source: MiRealSource, Inc mls logo
MLS#70152525 • last updated 2 years ago
Movoto checked MiRealSource, Inc for data 54 minutes ago
Overview
Status Closed
Type Multi-Family
Lot Size (Acres) 0.12
Total Tax Amount 1613
Originating MLS Southwestern Michigan Association Of REALTORS
HOA Fee 27931
Year Built 1997
Interior
# Fireplaces No
Exterior
Foundation Basement
Construction Vinyl Siding
Amenities / Utilities
Sewer/ Septic Public Sanitary
Water Public Water
Location
County Niles (11039)
Community Amenities Laundry Facility
Zoning Berrien Niles City
Multifamily Details
Unit 3: SqFt 3
Unit 2: Rent 380
Unit 4: Rent 350
Total Units 4
$200K
Range: $170K-$230K
Last 30 days 
Rental est.: $900/month
Gross rent multiplier: 11.9
  • Jan 2021
    Public Records
  • Jan 6, 2021 Sold
    $129,000
  • Dec 2020
    mls logo MLS # 70152525
  • Dec 1, 2020 Sold
    $129,000
  • Jul 28, 2020 Listed
    $135,000
  • Dec 2020
    mls logo MLS # 69020029815
  • Dec 1, 2020 Sold
    $129,000 (-4.4%)
  • Jul 28, 2020 Listed
    $135,000
  • Year Property taxes Tax assessment
  • 2025
    $2,972 +2.5%
    $60,700 +6.68%
  • 2024
    $2,899 +5.1%
    $56,900 -2.23%
  • 2023
    $2,758 +5.1%
    $58,200 +6.59%
  • 2022
    $2,625
    $54,600
  • 501 Broadway
    $129K
  • Niles (11039)
    —
  • 49120
    $269K +3% y/y
  • Niles
    $259K +3% y/y
No chart available
Statistics calculated by Movoto

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6/10
Ballard Elementary School
public Grades PK, K-5
Niles Community Schools
N/A
Oak Manor Sixth Grade Center
public Grades 6-12
Niles Community Schools
5/10
Ring Lardner Middle School
public Grades 6-8
Niles Community Schools
6/10
Niles Senior High School
public Grades 9-12
Niles Community Schools
Source: GreatSchools.org © 2026. All rights reserved.

Around Niles (11039)

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