Portfolio sale of three multifamily assets within the City of Petoskey - 524 State (6 units), 624 Michigan (5), and 138 E Sheridan (5) - 16 units total. Walkable, high-demand neighborhoods close to downtown, employment, and waterfront. Current income approx $23,750/mo (~$285k/yr) with T12 NOI ~ $185,806 (Aug '24-Jul '25). Extensive capital improvements completed: More than $500,000 pre-sale across the portfolio plus more than $100,000 by current owner (LJM) in 2024-25, including AC systems, windows, foundation and interior upgrades. Offered as a portfolio only; properties will not be sold individually. Financials, rent roll, and improvement summaries available; showings by appointment with proof of funds. Do not disturb tenants.
For sale
$2,500,000
624 Michigan St #524-138, Petoskey, MI 49770
--beds
--baths
8,496sqft
Est.:
Other
Built in ----
-- sqft lot
$2,288,500 Zestimate®
$294/sqft
$-- HOA
What's special
Interior upgradesAc systems
- 103 days |
- 269 |
- 5 |
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