Northfield Twp MI Multi Family for Sale
- Type:
- Multi-Family
- Sq.Ft.:
- n/a
- Status:
- Active
- Beds:
- n/a
- Lot size:
- 0.42 Acres
- Year built:
- 1927
- Baths:
- 4.00
- MLS#:
- 20240070578
View additional info
Courtesy: Real Broker LLC
517-200-3245
ADDITIONAL INFORMATION
Welcome to 9317 Main Street, located in the heart of downtown Whitmore Lake. This fully renovated multifamily property presents an outstanding investment opportunity. The property consists of four one-bedroom, one-bathroom units, three of which are already operating as highly profitable Airbnb rentals. The fourth unit is leased long-term but is set to transition to a short-term rental after the lease expires in May, bringing the projected annual gross income to over $101,000. This investment offers a strong current cap rate of 9.6%, which will increase to 12.1% once all units are fully utilized as short-term rentals. The property's prime location provides guests with easy deeded across the road to Whitmore Lake, an all-sports lake spanning 667 acres. The lake is a major draw for Airbnb guests, ensuring near 100% occupancy on summer weekends with an average nightly rental rate of $117. The property has undergone extensive renovations the past few years, including new roofs, windows, doors, electrical systems, and plumbing, along with updated heating and cooling systems. All four units have been fully remodeled with modern interiors, including new drywall, flooring, kitchens, and bathrooms, ensuring a turnkey investment for the new owner. The units are fully furnished, with the option to purchase the furnishings with the sale. With 12 parking spaces, tenants have ample convenience, and the property is within walking distance of local shops, restaurants, and a marina where boat rentals are available. Currently self-managed via Airbnb, the property allows flexibility for investors to continue with this model. Zoned for multifamily residential use with potential for commercial applications, this property offers both a stable income stream and future growth opportunities.
- Type:
- Multi-Family
- Sq.Ft.:
- n/a
- Status:
- Active
- Beds:
- n/a
- Lot size:
- 0.54 Acres
- Year built:
- 1850
- Baths:
- 4.00
- MLS#:
- 20240068040
View additional info
Courtesy: RE/MAX Classic
734-459-1234
ADDITIONAL INFORMATION
Great opportunity to own a Multi-Family property located in downtown Whitmore Lake! Built in 1850, this 2 story home was converted into a 5 unit income property with 2 - One Bedroom Units, 1 - Two Bedroom Units and a large studio/efficiency unit. Across the street, property has 10' deeded access to lake (separate tax ID#). For extra income there is a traditional 484 SF 2 car detached garage and a newer 1344 SF 4 car detached garage with 9' doors. Each unit has its own heat/gas and electric meter. Property is zoned WLD-D (Whitmore Lake Downtown Development). Property is vacant and needs to be completed. It is a conforming 5 unit multifamily. However with the zoning, the municipality would allow someone to have retail on the first floor and apartments upstairs.
The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. This IDX information is from the IDX program of RealComp II Ltd. and is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. IDX provided courtesy of Realcomp II Ltd., via Xome Inc. and Realcomp II Ltd., copyright 2024 Realcomp II Ltd. Shareholders.
Northfield Twp Real Estate
The median home value in Northfield Twp, MI is $598,500. The national median home value is $219,700. The average price of homes sold in Northfield Twp, MI is $598,500. Northfield Twp 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 Northfield Twp real estate agent to arrange a tour today!
Northfield Twp, Michigan has a population of 3,438.
The median household income in Northfield Twp, Michigan is $51,301. The median household income for the surrounding county is $65,618 compared to the national median of $57,652. The median age of people living in Northfield Twp is 35.9 years.
Northfield Twp Weather
The average high temperature in July is 81.1 degrees, with an average low temperature in January of 14.8 degrees. The average rainfall is approximately 34 inches per year, with 57.3 inches of snow per year.