131 E Michigan Street Active Save Request In-Person Tour Request Virtual Tour
Marquette,MI 49855
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 4,694 sqft
Price per Sqft $136
Subdivision Mi
MLS Listing ID 50144743
Style Other/See Remarks
Bedrooms 4
Full Baths 3
Half Baths 1
Year Built 1880
Annual Tax Amount $8,419
Tax Year 2023
Lot Size 8,712 Sqft
Acres 0.2
Lot Dimensions 82x108
Property Description
Fabulous investment opportunity on Marquette's magnificent East Side! UPDATE!! Rents have been raised a whopping 33% total, and almost $20,000 in updates and upgrades have been installed!Nestled in a cozy residential neighborhood, this mixed use building is one block down from Front St and two blocks down from the lively Third Street business district. Lake Superior and pristine Marquette beaches are 4-5 blocks in the other direction. Head North and you're hitting NMU's campus, and a few blocks South sits all the amazing shops, dining, and entertainment on Washington st. The building consists of 1,421 sqft of commercial space on the main floor, presently home to an adorable boutique shop which is frequented by locals and visitors alike. The hardwood floors make for a versatile space, and there is a kitchen setup, changing rooms, and two bathrooms toward the back of the building. Upstairs is home to two, two-bedroom, one-bathroom apartments. The units have some great potential with all the necessary amenities, and the spaces are complimented by high ceilings and tall windows. All units have access to laundry facilities in the north end of the building. There is a solid two-car garage on the North end as well, currently used as storage. The full basement is also a fantastic storage area! Many updates occurred in recent years, including a newer rubber roof, new siding, new high efficiency boiler and commercial grade air conditioner/air exchanger. Another amazing aspect of this opportunity is found in the lot itself, which includes 13 parking spots, many of which are rented out for even more income through the year! It's hard to find parking in this area of town, let alone own private spots. This type of property does not become available very often, especially not in this location! Check out the 360* tour to walk this great building, and don't miss the virtual tour with drone footage to show the incredible location!
Location
State MI
County Marquette
Area Marquette (52016)
Zoning Mixed Use
Rooms
Basement Full
Interior
Interior Features 9 ft + Ceilings,Hardwood Floors
Heating Boiler
Fireplace No
Exterior
Exterior Feature Vinyl Siding
Parking Features Detached Garage,Off Street
Garage Spaces 2.0
Building
Lot Description Deep Lot - 150+ Ft.,Sidewalks
Story Other/See Remarks
Foundation Basement
Water Public Water
Structure Type Vinyl Siding
Schools
School District Marquette Area School District
Others
Ownership LLC
SqFt Source CubiCasa
Energy Description Natural Gas
Financing Cash,Conventional,Conventional Blend