Homes for sale - 403 N Main Street, Ishpeming, MI 49849

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Jeff Rising

jeff@therisingteam.com +1(517) 605-1286

$ 338,000

Est. payment | -/mo

7 Beds

5 Baths

3,142 SqFt

Save

$ 338,000

Est. payment | -/mo

Save

7 Beds

5 Baths

3,142 SqFt

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 3,142 sqft

Price per Sqft $107

Subdivision Mi

MLS Listing ID 50150145

Style More than 2 Stories

Bedrooms 7

Full Baths 5

Year Built 1886

Annual Tax Amount $6,974

Lot Size 6,098 Sqft

Acres 0.14

Lot Dimensions 72x82

Property Description

Here is an extraordinary opportunity to invest in a 5-plex apartment! Centrally located in an excellent spot in a good neighborhood, this historic multiplex sits atop a hill, a few blocks from downtown Ishpeming. This is an established rental with a proven track record for high occupancy rates. Currently, all units are rented out. Leases are month to month and the tenants are communicative and cooperative. See associated documents for Cubi Casa measurements for each apartment and the basement. This historic home is solid with a well-maintained utility system and good bones. The roof is BRAND NEW, installed in 2023 ($70,000 value)! Shared laundry facilities are located in the basement. There are also storage cages for each unit on the opposite end of the laundry facility. Across the street is the Ishpeming Carnegie Library and the historic Mather Inn! Just a short walk from downtown (literally two blocks away), with access to Jim's Jubilee Foods, various restaurants, bars, shops, and churches. Lake Bancroft & the Ishpeming playgrounds are just another few blocks away. Rents are as follows: Unit 1: $700 rent/mo., tenant pays electric, Unit 2: $700 rent/mo., tenant pays electric, Unit 3: $750 rent/mo., tenants pay electric, Unit 4: $700 rent/mo., tenants pay electric, Unit 5: $600 rent/mo. Seller pays all utilities, EXCEPT for electricity in apartments #1-4. Seller pays ALL utilities for apartment #5. To gauge expenses, utilities are, on average, $700/mo. and add more for the winter months. All bathrooms are full except for apartment 5, which has a shower instead of a bathtub. Fireplaces in apartments 2, 3, 4 and 5 are not in working condition. Apartment 5 includes a space heater. RENTS TO INCREASE DEC. 1, 2024: APT. 1: $750, APT. 2: $775, APT. 3: $825, APT. 4: $775, APT. 5: $650.

Location

State MI

County Marquette

Area Ishpeming (52013)

Zoning Residential

Rooms

Basement Full, Stone

Interior

Interior Features 9 ft + Ceilings, Walk-In Closet

Heating Hot Water

Cooling None

Fireplaces Type LivRoom Fireplace

Fireplace Yes

Appliance Dryer, Range/Oven, Refrigerator, Washer

Exterior

Exterior Feature Vinyl Siding

Amenities Available Laundry Facility, Sidewalks, Pets-Allowed

Building

Lot Description Platted, Sidewalks

Story More than 2 Stories

Foundation Basement

Water Public Water

Structure Type Vinyl Siding

Schools

School District Ishpeming Public School District

Others

Ownership Private

SqFt Source Measured

Energy Description Natural Gas

Financing Cash,Conventional,Conventional Blend

MI RealSource (Lenawee County/Saginaw Board/Southeastern Border/Greater Shiawassee)

Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource.

Listed by SELECT REALTY

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(517) 605-1286

jeff@therisingteam.com

105 E Maumee St, Adrian, MI, 49221, USA

403 N Main Street Ishpeming, MI 49849