Fantastic investment opportunity with 10 apartment units! There are four 1-bedroom apartments and six 2-bedroom apartments, all with one full bathroom. The combination of location and amenities--being close to the Indian River, the North Central Trail system, and downtown Indian River--makes it very appealing. The apartment complex offers views of the Indian River Canal, which is a great selling point. Features of the apartments include a backdoor leading to a spacious backyard and an open floor plan. With passive income potential, it seems like a solid property for someone looking to invest in a growing area with a mix of outdoor activities and small-town charm. Located 1/2 mile north of Indian River, just east of Straits Highway, making travel easy for owner and tenant.
For sale
$950,000
2862 Arlene Ave, Indian River, MI 49749
14beds
8baths
4,360sqft
Est.:
Multi Family, Apartments
Built in ----
-- sqft lot
$-- Zestimate®
$218/sqft
$-- HOA
What's special
Spacious backyardOpen floor plan
- 87 days
- on Zillow |
- 397 |
- 12 |
Zillow last checked: 7 hours ago
Listing updated: February 03, 2025 at 12:35am
Listed by:
Terri A. Vizina 231-499-8931,
COLDWELL BANKER SCHMIDT INDIAN RIVER 231-238-9336,
Billy Andrew 231-420-9231,
COLDWELL BANKER SCHMIDT INDIAN RIVER
Source: WWMLS,MLS#: 201833217

Travel times
Tour with a buyer’s agent
Tour with a buyer’s agent
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 14
- Bathrooms: 8
Heating
- Baseboard, Natural Gas
Cooling
- None
Appliances
- Included: Electric Range, Refrigerator, Gas Water Heater
- Laundry: None
Features
- Basement: Crawl Space
Interior area
- Total interior livable area: 4,360 sqft
Property
Parking
- Parking features: Unit 1(Drive), Unit 2(Drive), Unit 3(Drive), Unit 4(Drive), Unit 6(Drive), Unit 7(Drive), Unit 8(Drive)
- Has uncovered spaces: Yes
Features
- Entry location: Unit 1(Main Level),Unit 2(Main Level),Unit 3(Main Level),Unit 5(Main Level)
Lot
- Size: 1.21 Acres
- Dimensions: 1.21 acres
Details
- Parcel number: 16101830001000
- Zoning: commercial
Construction
Type & style
- Home type: MultiFamily
- Architectural style: Ranch
- Property subtype: Multi Family, Apartments
Materials
- Frame, Vinyl Siding
Utilities & green energy
- Electric: Separate
- Sewer: Septic Tank
- Water: Well
- Utilities for property: Natural Gas Connected
Community & HOA
Community
- Subdivision: T35NR2W
Location
- Region: Indian River
Financial & listing details
- Price per square foot: $218/sqft
- Date on market: 1/29/2025
- Listing terms: Cash,See Remarks
- Ownership: Owner
- Lease term: Unit 1(Month To Month),Unit 2(Month To Month)
- Total actual rent: 1300
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