2870 US 31 Hwy N - Apartments FOR SALE


Levering, MI 49755
$395,000 USD
231-835-1555
2870 US 31 Hwy N, Levering, MI for Sale
$395,000 USD
Apartments - FOR SALE
1/15
null | 8.54% Cap Rate

2870 US 31 Hwy N
Levering, MI 49755


HIGHLIGHTS

  • High Visibility; remodeled, close to Mackinaw City, Casinos and I-75 access

OVERVIEW

Income Property or Rental Business Opportunity~ The Arbor Apartments on US 31 North in Levering is a 7 unit apartment building with on site coin-op laundry and is zoned B-1/FF-2. 100% Occupied with leased tenants, 8.5% Cap Rate. Emmet County B-1 Zoning offers opportunities from Motel, Cabins, Bed & Breakfast to Retail, Office or Adult Foster Care Home. There may be room for a buyer to explore expanding the number of units. This apartment complex has a solid rental history and excellent visibility on the Northern corridor of US 31~ Just a few minutes from Pellston Airport, Mackinaw City, trails and lakes. Excellent High Visibility location to build your investment ideas and dreams into reality.

FOR SALE DETAILS

PRICE

$395,000 USD

PRICE/SF

$141 USD /SF

# OF UNITS

7

PRICE/UNIT

$56,429

CAP RATE

8.54%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Dormitory

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1950

PARKING SPACES

10

LAND DETAILS

LAND ACRES

1.6 AC

LAND SF

69,696 SF

ZONING

B-1

APN/PARCEL ID

10-10-22-100-034

ASK ABOUT THIS PROPERTY

Sue LouiselleColdwell Banker Schmidt RealtorsMore Info
231-835-1555

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Sue LouiselleColdwell Banker Schmidt RealtorsMore Info
231-835-1555

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.