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ILink Real Estate Co

ilinkre@gmail.com +1(419) 277-7127

$ 265,000

Est. payment -/mo

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Active

1296 Main Street Melvin, MI 48454

4 Beds

3 Baths

1,885 SqFt

UPDATED:

10/17/2024 02:16 PM

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 1,885 sqft

Price per Sqft $140

Subdivision Mi

MLS Listing ID 50149159

Style 2 Story

Bedrooms 4

Full Baths 2

Half Baths 1

Year Built 1900

Annual Tax Amount $3,002

Tax Year 2023

Lot Size 0.550 Acres

Acres 0.55

Lot Dimensions IRR

Property Description

This unique property is in the heart of Melvin. Own your own post office building with newly negotiated lease. The lower front unit, which currently is leased to the US Post office for $581, will increase to $849.75 on Oct 1 with a five year lease. USPS has been a tenant since 1930....94 years of continuous service! In addition, There are two residential apartments, an upper leased at $625 and lower unit at $700. Both are leased below current market rates due to long term tenants. Apartments are on a month to month contract. Both apartments are 2 bedroom and in well maintained condition. There is a common area that has washer-dryer. Attached garage stores the lawn implements that go with sale. There is a nice storage shed in the spacious back yard that overlooks farm fields. The current owner has put in over 40k in improvements since purchase. Just in the last three years including: New roof for back apartment and Garage, Upgraded/Modernized Main Electric Panel, Installed new Well pump and piping, Installed new double windows in lower apartment unit, New Refrigerator in upstairs apartment, Tuck Pointing - Re-Grouting brickwork of Post Office exterior, Installed New 50 gal Water Heater, New toilet & new commercial grade flooring for Post Office, Installed new 30 foot Commercial Flag Pole, Installed new Modern "Closed System" Gas Boiler unit. See photo gallery for list of improvements. This building has been well maintained and is one of the original buildings in town. It is located across from the Melvin "hogtown" Tavern. Great opportunity for the investor in a small town community.

Location

State MI

County Sanilac

Area Speaker Twp (76022)

Zoning Residential

Interior

Heating Baseboard, Boiler

Fireplace No

Appliance Dryer, Range/Oven, Refrigerator, Washer, Water Softener - Leased

Exterior

Exterior Feature Brick, Vinyl Siding

Parking Features Attached Garage

Garage Spaces 1.5

Building

Story 2 Story

Foundation Crawl, Slab

Water Private Well

Structure Type Brick,Vinyl Siding

Schools

School District Brown City Comm School District

Others

Ownership Private

SqFt Source Estimated

Energy Description Natural Gas

Financing Cash,Conventional

MI RealSource (Lenawee County/Saginaw Board/Southeastern Border/Greater Shiawassee)

Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource.

Listed by Coldwell Banker Professionals

ILink Real Estate Co

License ID: 2014002630

+1(419) 277-7127

ILink Real Estate Co

1296 Main Street Melvin, MI 48454

Key Details

Location

Interior

Exterior

Building

Schools

Others

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1296 Main Street