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Key Details
Sold Price $499,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 1,150 sqft
Price per Sqft $433
Subdivision Mi
MLS Listing ID 80063033
Sold Date 12/19/25
Style 2 Story
Year Built 1960
Lot Size 2.500 Acres
Acres 2.5
Lot Dimensions irregular
Property Sub-Type Multi-Family
Property Description
Excellent investment opportunity — a fully occupied 6-unit apartment complex ideally located directly across from McLaren Hospital and just minutes from Downtown Cheboygan. The property totals approximately 7,500 SF on 2.5 ± acres and consists of three 3-bedroom / 1.5-bath units and three 2-bedroom / 1.5-bath units, all currently leased month-to-month. Each unit offers two private parking spaces, a semi-private backyard area, and a dedicated storage shed. Currently offered at an approximate 8.35% CAP rate, with value-add potential through future development of the property’s excess acreage. Don’t miss this opportunity to invest in one of Cheboygan’s best-located multifamily assets.
Location
State MI
County Cheboygan
Area Cheboygan (16022)
Zoning Multi-Family
Interior
Heating Baseboard
Appliance Dryer, Range/Oven, Refrigerator, Washer
Building
Story 2 Story
Foundation Slab
Water Public Water
Schools
School District Cheboygan Area Schools
Others
Ownership Private
Energy Description Electric
Acceptable Financing Conventional
Listing Terms Conventional
Financing Cash,Exchange/Trade
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Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource.
Bought with NON-MLS MEMBER OFFICE
Nearby Locations
- 5
Cheboygan Middle School
Public | 4 - 8
- 0
Bishop Baraga Catholic School
Private | PK - 6
- 0
Cornerstone Christian School
Private | KG - 1
- 0
East Elementary School
Public | 2 - 4
- 0
West Elementary School
Public | KG - 1
- 6
Cheboygan Area High School
Public | 9 - 12
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