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Keller Williams

1091 US-2, St. Ignace, MI 49781

$500,000
Property Type: MultiFamily Square Footage: 5,656 Status: Sold
Current Price: $500,000 List Date: 5/03/2022 Last Modified: 8/27/2024

Overview

Description

What a great investment opportunity! Located within 3 miles of the Bridge and 3.5 miles from the Ferry, this motel property has been converted to a 9-unit efficiency apartment building allowing for consistent & steady cash flow. The 5 one bedroom units lease for $650 and the 4 two bedroom's lease for $700. The upper level unit is ideal for an onsite managers unit complete with a 608' deck with views of the Lake! There is an onsite coin laundry for all units to use. Tenants pay for electric which is heat and water, owner pays for cable, internet and water currently. Leases are all on a month to month basis, but long tern rental history for most. Last unit (2nd level) will be leased as of June 1st. Sale to include parcel #008-023-026-10 & 008-900-072-00.

Listing Details MLS# 22-275

Contract Information

For Sale or Rent
For Sale

Property Information

Type
Apartments
Realtor.com Type
Multi-Family
Garage
No
Utilities
Separate
Number of Units
9
Source of sq. ft.
Assessor
Total finished sq ft
5656
Abv grade fin sq ft
5656
Waterfront
No
Water View
Yes
Lake/Rvr/Creek/Strm
Lake Michigan
Year Built
1958
Duplicate
No

Location Tax and Legal

Area
68 - St. Ignace Area
Unit #/St #/Space #
1091
Street Name
US-2
State
MI
Zip Code
49781
County
MACKINAC

Directions and Remarks

Directions
I-75 north to US-2, east to property
Hot Sheet Comment
new

Sold Info

Sold Date
2022-07-07

Unit 1

# Bedrooms
Yes
# Baths
Yes
Rent
700
Aprox SqFt
1064
Location
2
Occupied
Yes
Appliances Incl
Fridge, range

More Information

Unit 2

Rooms
4
# Bedrooms
2
# Baths
Yes
Rent
700
Aprox SqFt
1064
Location
Yes
Occupied
Yes
Appliances Incl
Fridge, Range

Unit 3

Rooms
3
# Bedrooms
Yes
# Baths
Yes
Rent
650
Aprox SqFt
450
Location
Yes
Occupied
Yes
Appliances Incl
Fridge, Range

Unit 4

Rooms
3
# Bedrooms
Yes
# Baths
Yes
Rent
650
Aprox SqFt
450
Location
Yes
Occupied
Yes
Appliances Incl
Fridge, Range

Unit 5

Rooms
3
# Bedrooms
Yes
# Baths
Yes
Rent
650
Aprox SqFt
450
Location
Yes
Occupied
Yes
Appliances Incl
Fridge, Range

Unit 6

Rooms
3
# Bedrooms
Yes
# Baths
Yes
Aprox SqFt
450
Location
Yes
Occupied
Yes
Rent
650
Appliances Incl
Fridge, Range

Property Features

Documents on File: Lead Base Paint; Seller's Disclosure Occupancy: Tenant Construction: Frame Exterior: Aluminum Util Pd By Owner: Water; Cable Miscellaneous: Separate Meters Number of Stories: Two Possession: Closing U1 Features: Fireplace; Living/Dining Combo; Kitchen/Dining Combo; Pvt Outside Entrance; Private Bath U2 Features: Living/Dining Combo; Kitchen/Dining Combo; Pvt Outside Entrance; Private Bath U3 Features: Living/Dining Combo; Kitchen/Dining Combo; Pvt Outside Entrance; Private Bath U4 Features: Living/Dining Combo; Kitchen/Dining Combo; Pvt Outside Entrance; Private Bath U5 Features: Living/Dining Combo; Kitchen/Dining Combo; Pvt Outside Entrance; Private Bath U6 Features: Living/Dining Combo; Kitchen/Dining Combo; Pvt Outside Entrance; Private Bath Showing Instructions: Appointment Only
Listing Office: OUTSIDE OFFICE
Listing Agent: AGENT OUTSIDE
Last Updated: August - 27 - 2024
Information deemed reliable but not guaranteed.