42280 Wilson Memorial Dr - Apartments FOR SALE


Chassell, MI 49916
$640,000 USD
906-482-0001
42280 Wilson Memorial Dr, Chassell, MI for Sale
$640,000 USD
Apartments - FOR SALE
1/1
null | Request Cap Rate

42280 Wilson Memorial Dr
Chassell, MI 49916


HIGHLIGHTS

  • Improvements include flooring, insulation, drywall, energy-efficient windows and doors, toilets, bathroom fixtures, blinds, soffits, fascia, and roof.
  • Views of Pike Bay and Portage Canal, adjacent to park and walking trail.
  • 6 units equipped with wall A/C; sleeves available in remaining units.
  • Off-street parking with 11–20 spaces on-site.

OVERVIEW

LOCATION, LOCATION, LOCATION in the heart of the quaint village of Chassell and 7.6 miles from Houghton. The Chippewa Apartment building consists of 10 apartments, a coin operated laundry room with office, a storage building, backs to the park, walking trail, a view of Pike Bay and Portage Canal. The Chippewa was converted from a motel to apartments in 2010 & 2011. Two units are studio type, 5 units have 1 bedroom and 3 apartments consists of 2 bedrooms. One unit is handicapped accessible and 6 of the units have wall A/C units while the others have a sleeve in which to install a A/C unit. Most units have a view of the Bay, walking trail and park. The initial renovation includes flooring, energy star appliances (gas stoves), insulation, drywall, individual shut-off valves, room sprinkler system, windows, doors. toilets, bathroom fixtures, blinds, roofing, soffits, facia, energy efficient computerized boiler/hot water system. There is access to the crawl space. The apartments started renting in 2011. Off street parking is plentiful. POTENTIAL PURCHASERS MUST BE PREQUALIFIED FOR A MORTGAGE OR SHOW PROOF OF FUNDS IF PAYING CASH BEFORE A SHOWING CAN TAKE PLACE. FINANCIAL INFORMATION CAN BE PROVIDED UPON RECEIPT OF A SIGNED CONFIDENTIALITY STATEMENT BY POTENTIAL PURCHASER.

FOR SALE DETAILS

PRICE

$640,000 USD

PRICE/SF

$78 USD /SF

# OF UNITS

12

PRICE/UNIT

$53,333

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Chippewa Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1950

PARKING SPACES

29

LAND DETAILS

LAND ACRES

1.03 AC

LAND SF

45,000 SF

ZONING

R1

APN/PARCEL ID

003-204-004-00

ASK ABOUT THIS PROPERTY

Kristine Jukuri WeidnerCentury 21 North Country AgencyMore Info
906-482-0001

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Kristine Jukuri WeidnerCentury 21 North Country AgencyMore Info
906-482-0001

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