$395000 Price Analysis    ♡   Levering, MI 49755 Unknown bed None bath 2800 SqFt ($141/SqFt) 1.6 acre lot. Built 1950 Listed 2022-05-26 | ✓ USDA Eligible near Levering, MI Restrictions may apply due to home size |
Terms Available!
Looking for an Income Property or Rental Business Opportunity? The Arbor Apartments on US 31 North in Levering is a 7 unit apartment building with on site coin-op laundry and is zoned B-1/FF-2. 100% Occupied with leased tenants, 8.5% Cap Rate. Emmet County B-1 Zoning offers opportunities from Motel, Cabins, Bed and Breakfast to Retail, Office or Adult Foster Care Home. There may be room for a buyer to explore expanding the number of units.
This apartment complex has a solid rental history and excellent visibility on the Northern corridor of US 31~ Just a few minutes from Pellston Airport, Mackinaw City, trails and lakes. Excellent High Visibility location to build your idas and dreams into reality. The Adjacent and surrounding parcel is also listed separately MLS 468345 with 7 acres and a home~ if combined, these parcels could take the income variables to an entirely new level!Talk about potential~Yeah, let's talk about it!
Presented by SUE LOUISELLE at
Sue Louiselle, Broker.
Property MLS #468344 from NorthernMI
Lot Size Dimensions: 100x575 irr
Lot Size Square Feet: 69696
Map directions Map directionsRefrigerator
Paved Road
Source Listing Status: Active
County: Emmet
Source Property Type: Multifamily
Property Subtype: Apartments
Source System Name: C2C
$395000
NorthernMI
Price Changed 2022-09-20
$425000
NorthernMI
Listed 2022-05-26
$450000
NorthernMI
Year Built: 1950
Property Age: 74
Water Source: Well
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.