1950 Presque Isle Avenue Active Save Request In-Person Tour Request Virtual Tour
Marquette,MI 49855
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 51,408 sqft
Price per Sqft $116
Subdivision Mi
MLS Listing ID 50162352
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 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,Full,Walk Out,Exposed Basement
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
Financing Cash,Conventional