MI > Marquette > Mi
Marquette, MI 49855,1950 Presque Isle Avenue
Marquette, MI 49855,1950 Presque Isle Avenue
Marquette, MI 49855,1950 Presque Isle Avenue
Marquette, MI 49855,1950 Presque Isle Avenue
Marquette, MI 49855,1950 Presque Isle Avenue
Marquette, MI 49855,1950 Presque Isle Avenue
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Jeff Rising

Jeff Rising

Cornerstone Real Estate

+1(517) 605-1286
$ 5,500,000
Est. payment | /mo

105 Beds

52 Baths

51,408 SqFt

Save
$ 5,500,000
Est. payment | /mo
Save

105 Beds

52 Baths

51,408 SqFt

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 51,408 sqft

Price per Sqft $106

Subdivision Mi

MLS Listing ID 50162352

Style 2 Story

Bedrooms 105

Full Baths 52

Year Built 1977

Annual Tax Amount $41,154

Tax Year 2023

Lot Size 1.610 Acres

Acres 1.61

Lot Dimensions 435 x 150

Property Sub-Type Multi-Family

Property Description

Discover the perfect investment gem in the heart of Marquette! This impressive 52-unit apartment building is situated in an unbeatable location, just steps from NMU and the breathtaking Lake Superior. With low rents that are on the rise and a solid base of long-term tenants, there's immense potential for income growth. Boasting a remarkable 0% vacancy rate and a waiting list, this opportunity is truly extraordinary. The three-story building features charming top-floor units with fireplaces (non-working) and balconies, while the lower level is designed for accessibility, complete with a wheelchair ramp and three handicap apartments. A mix of 51 two-bedroom units generating rental income and a three-bedroom manager's unit, alongside a well-maintained infrastructure with a recent roof, freshly painted exterior, and added vinyl siding, this property is ready to shine. Additional perks include a manager's office, an attached workshop, and two sheds for lawn and snow maintenance equipment. Seize this exceptional opportunity and elevate your investment portfolio today!

Location

State MI

County Marquette

Area Marquette (52016)

Zoning Multi-Family

Rooms

Basement Egress/Daylight Windows, Full, Walk Out, Exposed Basement

Interior

Interior Features Security System

Heating Boiler, Hot Water

Cooling None

Fireplace No

Appliance Range/Oven, Refrigerator

Exterior

Exterior Feature Vinyl Siding, Wood

Amenities Available Grounds Maintenance, Laundry Facility, Security, Pets-Not Allowed

Building

Story 2 Story

Foundation Basement

Water Public Water

Structure Type Vinyl Siding,Wood

Schools

School District Marquette Area School District

Others

Ownership LLC

SqFt Source Assessors Data

Energy Description Natural Gas

Financing Cash,Conventional

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
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"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

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1950 Presque Isle Avenue