10456 S US-31
Elk Rapids, MI 49629
- – beds
- – baths
- 2,171 sqft
- ~1 acre lot
- $149 per sqft
- – on site
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Unlock the potential of this 4-plex multifamily investment home in beautiful Elk Rapids! Once a booming motel, this building has now been turned into a multi-unit apartment complex providing an excellent opportunity for both seasoned investors and first-time buyers looking to enter the multifamily market. Currently fully occupied with long-term tenants, this property has a proven track record of generating reliable rental income. Ideal for investors looking for immediate cash flow. Conveniently located in walking distance to the Elk Rapids day park, biking distance to downtown Elk Rapids with various shops and restaurants, and a quick drive into Acme. Its prime location ensures high demand for rentals. This multifamily home is not just a property; it’s an investment in your future! Whether you're looking to expand your real estate portfolio or start your journey in multifamily investments, this opportunity is not to be missed.
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Last updated Mar 3, 2025
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MLS# 1927844 —
The Building
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Year Built:1959
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Construction:Timber Frame
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Style:2 Story, Apartment
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Roof:Asphalt
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Foundation:Slab
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Exterior Finish:Wood
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Exterior Features:Countryside View, Seasonal View
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Univs Design/Barrier Free:None
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Eco Features:no
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SqFt:2171
Interior
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Interior Features:Storage Space, Foyer Entrance
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Fireplace and Stoves:None
Financial & Terms
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Financing:Cash
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Terms:Conventional Mortgage, Cash, 1031 Exchange
Location
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Latitude:44.8816979372673
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Longitude:-85.423302986908
The Property
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Property Type:4 - Plex, Apartment Complex
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Lot Dimensions:300x119x150x178x225
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Acres:1.26
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Zoning:Multi-Family
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Additional Buildings:Garden/Storage Shed
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Deeded Waterfront:no
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Water Features:None
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Road:Public Maintained
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Mineral Rights:Unknown
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Price Per SqFt:149.7
Listing Agent
- Contact info:
- Agent phone:
- Office phone:
- (517) 200-3245
Taxes
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Tax ID:05-06-029-014-00
Heating & Cooling
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Heating & Cooling:Natural Gas
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Heating & Cooling:Forced Air
Utilities
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Water:Private Well
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Sewer:Private Septic
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TV/Internet:Cable TV, WiFi
Appliances
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Appliances:Refrigerator, Oven/Range, Washer, Dryer, Electric water Heater, Smoke Alarms, Water Softener Rented
Schools
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School District:Elk Rapids Schools
The Community
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Subdivision:MI
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Development Amenities:Common Area
Parking
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Primary Garage:Other
Extra Units
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Total # of Units:4
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SqFt Unit 1:425 Sqft
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Unit A Baths:1
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Unit B Bedrooms:1
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Unit B Baths:1
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Unit C Bedrooms:1
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Unit C Baths:1
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Unit C Square Feet:500 Sqft
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Unit D Baths:1
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Unit D Square Feet:425 Sqft
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
11/27/24
Nov 27, 2024
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Sold | NGLRMLS | $325,000 | -14.5% |
|
10/17/24
Oct 17, 2024
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Accepting Backup Offers | NGLRMLS | $380,000 | |
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10/4/24
Oct 4, 2024
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Listed / Active | NGLRMLS | $380,000 |
