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Rapid River,MI 49878
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 2,456 sqft
Price per Sqft $109
Subdivision Mi
MLS Listing ID 50166957
Style 1 Story
Bedrooms 7
Full Baths 7
Year Built 1970
Annual Tax Amount $1,613
Tax Year 2022
Lot Size 0.500 Acres
Acres 0.5
Lot Dimensions 100x217
Property Sub-Type Multi-Family
Property Description
Welcome to a fantastic investment opportunity in Rapid River – a 7-unit property ready to generate steady income for you. Currently, all units are rented out , offering a reliable stream of rental income. The rental rates are favorable, and utilities, including cable, are conveniently included. This property boasts a strong rental history, ensuring a stable and lucrative investment for the future. Tenants can also enjoy a designated picnic area for added comfort and relaxation. Additionally, there's a 2-car detached garage available for personal use or as an additional rental opportunity, providing even more potential for income generation. The unit mix includes 6 studios and a spacious one-bedroom unit, catering to a diverse range of tenants. Numerous updates have been made throughout the years, enhancing the property's appeal and value. Most units are rented on a monthly basis, with some owners also accepting weekly rentals, maximizing occupancy rates. With a total monthly rent of $4805.00 this investment promises excellent returns. Don't miss out on this incredible opportunity to secure a profitable investment in Rapid River. Contact us today to learn more and seize the chance to add this gem to your portfolio. The roof is scheduled to be replaced as weather permits.
Location
State MI
County Delta
Area Masonville Twp (21017)
Zoning Commercial
Rooms
Basement Block
Interior
Heating Boiler,Hot Water
Fireplace No
Appliance Range/Oven,Refrigerator
Exterior
Exterior Feature Vinyl Siding
Parking Features Detached Garage
Garage Spaces 2.0
Building
Lot Description Cleared
Story 1 Story
Foundation Crawl
Water Private Well
Structure Type Vinyl Siding
Schools
School District Rapid River Public Schools
Others
Ownership Trust
SqFt Source Appraisal
Energy Description Natural Gas
Financing Cash,Conventional