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Key Details
Sold Price $215,000
Property Type Multi-Family
Sub Type 2 to 4 Units
Listing Status Sold
Purchase Type For Sale
Municipality Bear Lake Vlg
MLS Listing ID 22026614
Sold Date 10/31/22
Originating Board Michigan Regional Information Center (MichRIC)
Year Built 1940
Annual Tax Amount $4,000
Tax Year 2022
Lot Size 1.014 Acres
Acres 1.01
Lot Dimensions 125x200xx180x65x55x136
Property Description
Great Investment Property in the quaint N. Michigan town of Bear Lake. This property sits 2 blocks from the lake & 4 blocks to public access of the sandy bottom Bear Lake. Rentals in this area are few & this 4 apartment building with garages & on-site laundry is a rare find. All apartment interiors are the same. One apartment seller has just done some renovations & left vacant for showings. There are newer appliances in the units & a new coin laundry in basement of the garage. Apartments are 750 sq ft with 2 bedrooms & either a patio or a deck.The current renters all want to remain & rents go to $725-$765 in July. Seller pays utilities. Seller is getting an estimate on splitting the electric services. 6 stall garage & extra lot complete the property.
Location
State MI
County Manistee
Area Masonoceanamanistee - O
Direction U.S. 31 to Bear Lake follow through town to Smith St.Turn South on Smith to corner of Smith & Main
Rooms
Basement Slab
Interior
Heating Hot Water, Baseboard, Natural Gas
Cooling Window Unit(s)
Fireplaces Number 2
Exterior
Garage Unpaved
Waterfront No
View Y/N No
Roof Type Composition, Other
Street Surface Paved
Total Parking Spaces 6
Building
Lot Description Wooded, Corner Lot
Sewer Septic System
New Construction No
Schools
School District Bear Lake
Others
Tax ID 513222171813
Acceptable Financing VA Loan, MSHDA, FHA, Cash, Conventional
Listing Terms VA Loan, MSHDA, FHA, Cash, Conventional
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