9 unit apartment building in the city of Ishpeming. Brand new steam boiler in February, some long term tenants. All annual leases. 12% CAP rate based on 2022 annual expense and rents at 95% occupancy. Coin operated laundry in basement.
Multi-familyProperty Type
1895Year Built
5,662 sq ftLot Size
$34Price/Sq.Ft.
Listed by JOHN DEMAY• EXP REALTY OF MARQUETTE
•888-501-7085 (broker)
•John@PROEXRealty.com (broker)
Bought with SCOTT MOSIER• KEY REALTY DELTA COUNTY LLC
9 unit apartment building in the city of Ishpeming. Brand new steam boiler in February, some long term tenants. All annual leases. 12% CAP rate based on 2022 annual expense and rents at 95% occupancy. Coin operated laundry in basement.
UPAR #10072107
Sep 30, 2019
Sold
$179,000
$31/sq ft
Jul 12, 2018
Listed
$185,000
$32/sq ft
+8
Positive cash flow! Good rental history and well maintained!
As the MLS and public records start to fill up, we'll list the details here.
Public record
Beds
—
Baths
—
Stories
—
Lot width
167 ft.
Lot depth
167 ft.
Lot size
—
Year renovated
—
Sq. Ft.
—
Year built
—
Style
Multi-Family (5+ Unit)
County
Marquette County
APN
—
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
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Last updated by owner on Mar 11, 2022.
Property details
Interior
Interior Features
Appliances: Range/Oven, Refrigerator, Washer
Has Basement
Bathroom Information
# of Lavatories: 9
# of Bathrooms (Full): 9
# of Baths/Lavatories (Total): 18
Bath Descriptions: Not Applicable
Laundry/Basement Information
Basement Type: Block, Mi Basement
Mult-Unit Information
# of Units (Total): 9
Net Operating Income: $32,013
Net Operating Income: 32013
Exterior
Exterior Features
Exterior Features: Porch
Foundation Type: Basement, Crawl
Property Features
Water Features: None
Property Information
Property Type: Multi-Family
Property Type: Apartment, Investment
Structure Style: More than 2 Stories
Year Built: 1895
Lot Information
Lot Size: 5,075
Zoning: Residential
Land Information
Acreage: 0.13
Roads: Paved Street
Financial
Tax/Assessments Information
Taxable Value: $76,098
Total Tax Year: 2022
Total Tax Amount: $4,857
Summer Tax Year: 2022
Summer Tax Amount: $3,054
Winter Tax Year: 2022
Winter Tax Amount: $1,803
Lease/Rent Information
Lease Information: Long Term
Utilities
Utility Information
Separate Heat: No
Water Heater: Gas
Water: Public Water
Cooling System: None
Fuel Type: Natural Gas
Heating System: Steam
Sewer Septic: Public Sanitary
Location
Homeowners Association Information
Community Amenities: Laundry Facility
School Information
School District: Ishpeming Public School District
School District: Ishpeming Public School District
Location Details
Municipality Type: City
Municipality: Ishpeming
Mail City: Ishpeming
Subdivision: no
Area (Municipality): Ishpheming (52013)
Public facts
Beds: —
Baths: —
Sq. Ft.: —
Stories: —
Lot Size: —
Style: Multi-Family (5+ Unit)
Year Built: —
Year Renovated: —
County: Marquette County
APN: —
Home facts updated by county records on Mar 11, 2022
Around this home
Schools
Ishpeming Middle School
Public 5-8 • Assigned • 0.4mi
6/10
Ishpeming High School
Public 9-12 • Assigned • 0.4mi
6/10
Provided by GreatSchools
Lifestyle
Provided by Walk Score and Local Logic
Historical weather
Ishpeming, MI • 49849
Average low and high temperatures (°F)
19
7
27
10
37
19
48
29
62
39
73
52
79
58
73
54
68
50
59
40
40
28
26
15
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
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Dec
Sun exposure
In this area, properties receive around 9.6 hours in
June and 2.5 hours in December, placing it below the
U.S. average for solar exposure.