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10456 S US-31 Elk Rapids, MI 49629
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Key Details
Sold Price $325,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 700 sqft
Price per Sqft $464
MLS Listing ID 80051304
Sold Date 11/27/24
Style 2 Story
Year Built 1959
Lot Size 1.260 Acres
Acres 1.26
Lot Dimensions 300x119x150x178x225
Property Description
Unlock the potential of this 4-plex multifamily investment home in beautiful Elk Rapids! Once a booming motel, this building has now been turned into a multi-unit apartment complex providing an excellent opportunity for both seasoned investors and first-time buyers looking to enter the multifamily market. Currently fully occupied with long-term tenants, this property has a proven track record of generating reliable rental income. Ideal for investors looking for immediate cash flow. Conveniently located in walking distance to the Elk Rapids day park, biking distance to downtown Elk Rapids with various shops and restaurants, and a quick drive into Acme. Its prime location ensures high demand for rentals. This multifamily home is not just a property; it’s an investment in your future! Whether you're looking to expand your real estate portfolio or start your journey in multifamily investments, this opportunity is not to be missed.
Location
State MI
County Antrim
Area Elk Rapids Twp (05006)
Zoning Multi-Family
Interior
Heating Forced Air
Appliance Dryer, Range/Oven, Refrigerator, Washer, Water Softener - Leased
Exterior
Exterior Feature Wood
Building
Story 2 Story
Foundation Slab
Water Private Well
Structure Type Wood
Schools
School District Elk Rapids Schools
Others
Ownership Private
Energy Description Natural Gas
Acceptable Financing Cash
Listing Terms Cash
Financing Cash,Exchange/Trade
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Bought with Wittbrodt WATERSIDE PROPERTIES