Ishpeming MI Multi Family for Sale
$338,000
403 N Main Ishpeming, MI 49849
- Type:
- Multi-Family
- Sq.Ft.:
- 3,142
- Status:
- Active
- Beds:
- n/a
- Lot size:
- 0.14 Acres
- Year built:
- 1886
- Baths:
- 5.00
- MLS#:
- 50150145
- Subdivision:
- N/A
ADDITIONAL INFORMATION
Here is an extraordinary opportunity to invest in a 5-plex apartment! Centrally located in an excellent spot in a good neighborhood, this historic multiplex sits atop a hill, a few blocks from downtown Ishpeming. This is an established rental with a proven track record for high occupancy rates. Currently, all units are rented out. Leases are month to month and the tenants are communicative and cooperative. See associated documents for Cubi Casa measurements for each apartment and the basement. This historic home is solid with a well-maintained utility system and good bones. The roof is BRAND NEW, installed in 2023 ($70,000 value)! Shared laundry facilities are located in the basement. There are also storage cages for each unit on the opposite end of the laundry facility. Across the street is the Ishpeming Carnegie Library and the historic Mather Inn! Just a short walk from downtown (literally two blocks away), with access to Jim's Jubilee Foods, various restaurants, bars, shops, and churches. Lake Bancroft & the Ishpeming playgrounds are just another few blocks away. Rents are as follows: Unit 1: $700 rent/mo., tenant pays electric, Unit 2: $700 rent/mo., tenant pays electric, Unit 3: $750 rent/mo., tenants pay electric, Unit 4: $700 rent/mo., tenants pay electric, Unit 5: $600 rent/mo. Seller pays all utilities, EXCEPT for electricity in apartments #1-4. Seller pays ALL utilities for apartment #5. To gauge expenses, utilities are, on average, $700/mo. and add more for the winter months. All bathrooms are full except for apartment 5, which has a shower instead of a bathtub. Fireplaces in apartments 2, 3, 4 and 5 are not in working condition. Apartment 5 includes a space heater. RENTS TO INCREASE DEC. 1, 2024: APT. 1: $750, APT. 2: $775, APT. 3: $825, APT. 4: $775, APT. 5: $650.
$139,900
708 Bank Ishpeming, MI 49849
- Type:
- Multi-Family
- Sq.Ft.:
- 1,881
- Status:
- Active
- Beds:
- n/a
- Lot size:
- 0.15 Acres
- Year built:
- 1890
- Baths:
- 2.00
- MLS#:
- 50142966
- Subdivision:
- Cleveland Iron Mining Cos 5th Add
ADDITIONAL INFORMATION
PRICE IMPROVEMENT! Affordable income-producing property in the city of Ishpeming with solid rental history! All separate utilities means the landlord gets the cash flow. Recent updates include 100 amp electrical in each unit, newer metal roof, newer vinyl windows, new flooring in lower unit, plumbing updated, new forced air furnace for upper unit. Lower unit could use a kitchen refresh so there is some sweat-equity potential here as well!
Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource. The information published and disseminated by MiRealSource is communicated verbatim, without change by MiRealSource, as filed with MiRealSource by its members. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. Copyright 2024 MiRealSource. All rights reserved. The information provided hereby constitutes proprietary information of MiRealSource, Inc. and its shareholders, affiliates and licensees and may not be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording, scanning or any information storage and retrieval system, without written permission from MiRealSource, Inc. Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS. The information published and disseminated by the Originating MLS is communicated verbatim, without change by the Originating MLS, as filed with it by its members. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. Copyright 2024 MiRealSource. All rights reserved. The information provided hereby constitutes proprietary information of MiRealSource, Inc. and its shareholders, affiliates and licensees and may not be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording, scanning or any information storage and retrieval system, without written permission from MiRealSource, Inc.
Ishpeming Real Estate
The median home value in Ishpeming, MI is $188,000. This is lower than the county median home value of $207,100. The national median home value is $338,100. The average price of homes sold in Ishpeming, MI is $188,000. Approximately 63.55% of Ishpeming homes are owned, compared to 23.01% rented, while 13.44% are vacant. Ishpeming real estate listings include condos, townhomes, and single family homes for sale. Commercial properties are also available. If you see a property you’re interested in, contact a Ishpeming real estate agent to arrange a tour today!
Ishpeming, Michigan has a population of 6,223. Ishpeming is more family-centric than the surrounding county with 31.25% of the households containing married families with children. The county average for households married with children is 26.28%.
The median household income in Ishpeming, Michigan is $49,757. The median household income for the surrounding county is $57,981 compared to the national median of $69,021. The median age of people living in Ishpeming is 38.8 years.
Ishpeming Weather
The average high temperature in July is 77.6 degrees, with an average low temperature in January of 3.9 degrees. The average rainfall is approximately 32.2 inches per year, with 156.7 inches of snow per year.