For sale
  • $2,500,000

    624 Michigan St #524-138, Petoskey, MI 49770

    --beds
    --baths
    8,496sqft
    : 
    Other
    Built in ----
    -- sqft lot
    $2,288,500 Zestimate®
    $294/sqft
    $-- HOA

    What's special

    Interior upgradesAc systems
    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.
    103 days
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    269
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    5
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