3150-3160 Defay Rd - Apartments FOR SALE


Stevensville, MI 49127
$675,000 USD
269-281-0392
3150-3160 Defay Rd, Stevensville, MI for Sale
$675,000 USD
Apartments - FOR SALE
1/4
null | Request Cap Rate

3150-3160 Defay Rd
Stevensville, MI 49127


HIGHLIGHTS

  • 12 Acre Private Wooded Setting
  • Would also be a great opportunity to use as weekly rentals
  • Close to Lake Michigan Beaches

OVERVIEW

The term ''handy-man special'' does not begin to describe the potential of this property. Even most multi-million dollar estates cannot match it in size, scenery, location, or possibilities. Occupying the entire south side stretch of W. Defay Rd, the completely private Brown-Defay estate in Stevensville is a historic 12-acre multi family compound just a mile from the beaches and walking trails of Grand Mere State Park, with hospital facilities, restaurants, and major grocery stores all less than 10 minutes away. This peaceful and secluded enclave contains 5 buildings dating from as early as the 1860's, including 3 residences that were later divided into 6 rental units. Those spaces remain separately metered, but only one of the apartments is lived in today, with most other areas gutted, and used primarily as storage or garage space. Because of these conditions, property will not qualify for a conventional home mortgage. Homes are on well and septic, with city water and gas available at the street. Please contact agent for specific details about buildings, or redevelopment of the property.

FOR SALE DETAILS

PRICE

$675,000 USD

PRICE/SF

$56 USD /SF

# OF UNITS

4

PRICE/UNIT

$168,750

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

3150-3160 W Defay Rd., Stevensville, MI 49127

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1900

PARKING SPACES

12

LAND DETAILS

LAND ACRES

11.68 AC

LAND SF

508,705 SF

ZONING

NRD-Neighborhood Res. Dev

APN/PARCEL ID

11-12-0033-0011-06-6

ASK ABOUT THIS PROPERTY

Shelle Dragomer@properties | Christie''s International Real EstatMore Info
269-281-0392

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Shelle Dragomer@properties | Christie''s International Real EstatMore Info
269-281-0392

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