Marquette, MI 49855,1950 Presque Isle Avenue
Marquette, MI 49855,1950 Presque Isle Avenue
Marquette, MI 49855,1950 Presque Isle Avenue
43
$4,500,000
$5,500,000
18.2%
Est.Price: ?

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105 BD
52 BA
51,408 SqFt

1950 Presque Isle Avenue Marquette, MI 49855

Est. payment /mo
SOLD DATE : 06/06/2025

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Key Details

Sold Price $4,500,000

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Sold

Purchase Type For Sale

Square Footage 51,408 sqft

Price per Sqft $87

Subdivision Mi

MLS Listing ID 50162352

Sold Date 06/06/25

Style 2 Story

Bedrooms 105

Full Baths 52

Year Built 1977

Annual Tax Amount $41,154

Tax Year 2023

Lot Size 1.610 Acres

Acres 1.61

Lot Dimensions 435 x 150

Property Sub-Type Multi-Family

Property Description

Discover the perfect investment gem in the heart of Marquette! This impressive 52-unit apartment building is situated in an unbeatable location, just steps from NMU and the breathtaking Lake Superior. With low rents that are on the rise and a solid base of long-term tenants, there's immense potential for income growth. Boasting a remarkable 0% vacancy rate and a waiting list, this opportunity is truly extraordinary. The three-story building features charming top-floor units with fireplaces (non-working) and balconies, while the lower level is designed for accessibility, complete with a wheelchair ramp and three handicap apartments. A mix of 51 two-bedroom units generating rental income and a three-bedroom manager's unit, alongside a well-maintained infrastructure with a recent roof, freshly painted exterior, and added vinyl siding, this property is ready to shine. Additional perks include a manager's office, an attached workshop, and two sheds for lawn and snow maintenance equipment. Seize this exceptional opportunity and elevate your investment portfolio today!

Location

State MI

County Marquette

Area Marquette (52016)

Zoning Multi-Family

Rooms

Basement Egress/Daylight Windows, Exposed Basement, Full, Walk Out

Interior

Interior Features Security System

Heating Boiler, Hot Water

Cooling None

Fireplace No

Appliance Range/Oven, Refrigerator

Exterior

Exterior Feature Vinyl Siding, Wood

Amenities Available Grounds Maintenance, Laundry Facility, Security, Pets-Not Allowed

Building

Story 2 Story

Foundation Basement

Water Public Water

Structure Type Vinyl Siding,Wood

Schools

School District Marquette Area School District

Others

Ownership LLC

SqFt Source Assessors Data

Energy Description Natural Gas

Acceptable Financing Conventional

Listing Terms Conventional

Financing Cash,Conventional

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MiRealSource (MI RealSource (Lenawee /Saginaw/SE-Border/Gr Shiawassee/Upper Peninsula)
Listed by SELECT REALTY
Bought with KEY REALTY DELTA COUNTY LLC

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agent

Morgan Beilfuss

Agent | License ID: 6501277052

+1(989) 277-7860

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