118 E State St - Multi-Family FOR SALE


Fife Lake, MI 49633
$395,000 USD
231-633-2577
118 E State St, Fife Lake, MI for Sale
$395,000 USD
Multi-Family - FOR SALE
1/5
null | 9.63% Cap Rate

118 E State St
Fife Lake, MI 49633


HIGHLIGHTS

  • Fantastic summer and winter views of Fife Lake
  • Within appx 50' of public access
  • Easy boat launch

OVERVIEW

Fantastic Opportunity for the short-term rental/ Air BNB investor. The property is perched on a small bluff above Fife Lake, an all-sports lake, and within appx 50 feet of public access. It consists of 3 units, each one is 2 beds 1 bath. Under current zoning all 3 units can be utilized as STR. The property needs some work- but if you have vision this is the property for you. You can easily keep 2 units rented on current mo-to-mo leases and rehab the 3rd one. Then bring it into service either as a STR or annual rental and then go to work on the other 2 units.

FOR SALE DETAILS

PRICE

$395,000 USD

PRICE/SF

$123 USD /SF

# OF UNITS

3

PRICE/UNIT

$131,667

CAP RATE

9.63%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Bosse Property

PROPERTY TYPE

Multi-Family

ADD'L SUBTYPES

Storefront Retail/Residential, Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1886

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.11 AC

LAND SF

4,792 SF

ZONING

-

APN/PARCEL ID

41-070-031-00

ASK ABOUT THIS PROPERTY

Carole HigginsCygnus Real EstateMore Info
231-633-2577

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Carole HigginsCygnus Real EstateMore Info
231-633-2577

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