1091 US-2, St. Ignace, MI 49781 (MLS# 22-275)

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
Basement: No
Blw grade fin sq ft: 0
Blw grde unfin sq ft: 0

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
Rooms: 3

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

Location, Tax and Legal

School District: St. Ignace
Parcel ID: 008-023-023-00
Homestead Y/N: No
Taxes: 3411.12
Taxable Value: 101400
SEV: 101400
Tax Year: 2021

Construction

Frame: Yes

Documents on File

Lead Base Paint: Yes
Seller's Disclosure: Yes

Possession

Closing: Yes

Occupancy

Tenant: Yes

Exterior

Aluminum: Yes

Util Pd By Owner

Water: Yes
Cable: Yes

Showing Instructions

Appointment Only: Yes

Utilities P/B Renter

Electricity: Yes

Miscellaneous

Separate Meters: Yes

Water & Sewer

Public Water: Yes
Private Sewer: Yes

Number of Stories

Two: Yes

U1 Features

Fireplace: Yes
Living/Dining Combo: Yes
Kitchen/Dining Combo: Yes
Pvt Outside Entrance: Yes
Private Bath: Yes

U2 Features

Living/Dining Combo: Yes
Kitchen/Dining Combo: Yes
Pvt Outside Entrance: Yes
Private Bath: Yes

U3 Features

Living/Dining Combo: Yes
Kitchen/Dining Combo: Yes
Pvt Outside Entrance: Yes
Private Bath: Yes

U4 Features

Living/Dining Combo: Yes
Kitchen/Dining Combo: Yes
Pvt Outside Entrance: Yes
Private Bath: Yes

U5 Features

Living/Dining Combo: Yes
Kitchen/Dining Combo: Yes
Pvt Outside Entrance: Yes
Private Bath: Yes

U6 Features

Living/Dining Combo: Yes
Kitchen/Dining Combo: Yes
Pvt Outside Entrance: Yes
Private Bath: Yes

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

Documents

Lead based paint disclosure ›

Seller's disclosure ›

Legal descriptions ›

Apartment information ›

Listing Office: OUTSIDE OFFICE

Listing Agent: AGENT OUTSIDE

Last Updated: August - 27 - 2024

Information deemed reliable but not guaranteed.

1091 US-2, St. Ignace, MI 49781 (MLS# 22-275)