Escanaba, MI 49829,1200 & 1202 Ludington Street
Escanaba, MI 49829,1200 & 1202 Ludington Street
Escanaba, MI 49829,1200 & 1202 Ludington Street
54
$467,000
$450,000
3.8%
Est.Price: ?

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9 BD
9 BA
21,000 SqFt

1200 & 1202 Ludington Street Escanaba, MI 49829

Est. payment /mo
SOLD DATE : 04/30/2024

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Key Details

Sold Price $467,000

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Sold

Purchase Type For Sale

Square Footage 21,000 sqft

Price per Sqft $22

Subdivision Mi

MLS Listing ID 50134455

Sold Date 04/30/24

Style More than 2 Stories

Bedrooms 9

Full Baths 6

Half Baths 3

Year Built 1912

Annual Tax Amount $5,838

Tax Year 2022

Lot Size 6,969 Sqft

Acres 0.16

Lot Dimensions 50x140

Property Description

Exceptional investment opportunity in downtown Escanaba! This versatile mixed-use building offers the perfect blend of commercial and residential spaces, totaling 21,000 sq ft. Comprising six residential units and two commercial units, this property has a great location and solid income potential. Currently, one commercial unit is leased to Edward Jones, ensuring stable returns, while the other unit presents an exciting opportunity for a new business or tenant. All residential units are occupied with a strong rental history. Between the residential and commercial units the building currently provides a steady monthly income of $4,485. Additionally, with over 10,000 sq ft of unfinished space on the upper levels, there's ample room for expansion or customization to suit various commercial or residential needs. There is potential grant money from the MEDC for renovations. Whether you're an investor seeking a lucrative venture or an entrepreneur looking to establish your own storefront or office, this property offers the ideal combination of stability and opportunity. Don't miss out on the chance to own a piece of Escanaba's downtown district with this historical building. Owner pays heat and water on each residential unit. Each residential unit pays their own electric. Owner pays for only water on Edward Jones. Parking is off street parking in the city lot behind the building. The Edward Jones space is only available during their business hours (Mon - Thurs 8:00AM to 5:00PM, Fri 8:30AM to 4:00PM, Sat & Sun Closed).

Location

State MI

County Delta

Area Escanaba (21010)

Zoning Multi-Family,Commercial

Rooms

Basement Full, Partially Finished, Brick

Interior

Interior Features 9 ft + Ceilings, Cable/Internet Avail., DSL Available, Hardwood Floors

Heating Forced Air, Hot Water, Zoned Heating

Cooling None

Fireplace No

Appliance Range/Oven, Refrigerator

Exterior

Exterior Feature Brick

Amenities Available Laundry Facility, Private Entry, Dogs Allowed, Cats Allowed

Building

Lot Description Sidewalks

Story More than 2 Stories

Foundation Basement

Water Public Water

Structure Type Brick

Schools

School District Escanaba Area Public Schools

Others

Ownership LLC

SqFt Source Measured

Energy Description Natural Gas

Acceptable Financing Land Contract

Listing Terms Land Contract

Financing Cash,Conventional,Conventional Blend

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MI RealSource (Lenawee County/Saginaw Board/Southeastern Border/Greater Shiawassee)
Listed by PREMIER REAL ESTATE, INC.
Bought with PREMIER REAL ESTATE, INC.

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Morgan Beilfuss

Agent | License ID: 6501277052

+1(989) 277-7860

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