Melvin MI Multi Family for Sale
$265,000
1296 Main Melvin, MI 48454
- Type:
- Multi-Family
- Sq.Ft.:
- 1,885
- Status:
- Active
- Beds:
- n/a
- Lot size:
- 0.55 Acres
- Year built:
- 1900
- Baths:
- 3.00
- MLS#:
- 50149159
- Subdivision:
- NA
ADDITIONAL INFORMATION
This unique property is in the heart of Melvin. Own your own post office building with newly negotiated lease. The lower front unit, which currently is leased to the US Post office for $581, will increase to $849.75 on Oct 1 with a five year lease. USPS has been a tenant since 1930....94 years of continuous service! In addition, There are two residential apartments, an upper leased at $625 and lower unit at $700. Both are leased below current market rates due to long term tenants. Apartments are on a month to month contract. Both apartments are 2 bedroom and in well maintained condition. There is a common area that has washer-dryer. Attached garage stores the lawn implements that go with sale. There is a nice storage shed in the spacious back yard that overlooks farm fields. The current owner has put in over 40k in improvements since purchase. Just in the last three years including: New roof for back apartment and Garage, Upgraded/Modernized Main Electric Panel, Installed new Well pump and piping, Installed new double windows in lower apartment unit, New Refrigerator in upstairs apartment, Tuck Pointing - Re-Grouting brickwork of Post Office exterior, Installed New 50 gal Water Heater, New toilet & new commercial grade flooring for Post Office, Installed new 30 foot Commercial Flag Pole, Installed new Modern "Closed System" Gas Boiler unit. See photo gallery for list of improvements. This building has been well maintained and is one of the original buildings in town. It is located across from the Melvin "hogtown" Tavern. Great opportunity for the investor in a small town community.
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Melvin Real Estate
The median home value in Melvin, MI is $129,750. This is lower than the county median home value of $159,100. The national median home value is $338,100. The average price of homes sold in Melvin, MI is $129,750. Approximately 79.71% of Melvin homes are owned, compared to 14.49% rented, while 5.8% are vacant. Melvin 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 Melvin real estate agent to arrange a tour today!
Melvin, Michigan has a population of 173. Melvin is more family-centric than the surrounding county with 33.33% of the households containing married families with children. The county average for households married with children is 26.74%.
The median household income in Melvin, Michigan is $48,750. The median household income for the surrounding county is $52,459 compared to the national median of $69,021. The median age of people living in Melvin is 36.7 years.
Melvin Weather
The average high temperature in July is 81.7 degrees, with an average low temperature in January of 13.9 degrees. The average rainfall is approximately 31.7 inches per year, with 36.4 inches of snow per year.