$800,000
Muskegon, MI 49442
MLS# 24015581
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Property Description
This beautiful historic flagship home has been renovated from the studs in to create a wonderful 5 unit investment property that is turn key and ready to produce income! This property has a short term rental certificate from the City. No expense was spared in turning this property into what it is today. From the moment you pull up charm and historical beauty abound. The exterior is beautifully landscaped and is also equipped with in-ground sprinkling for the yard and plant beds. Additional exterior notes are new roof, new windows (other than a few windows in unit 2), and professionally restored and painted siding. The charm continues when walking up the stairs to the large wrap around front porch.
Details
Maps
Location & Property Info
County: Muskegon
Street #: 1164
Street Name: Terrace
Suffix: Street
State: MI
Zip Code: 49442
Cross Streets: Delaware and Terrace
Property Sub-Type: 5+ Units
Area: Muskegon County - M
Municipality: Muskegon City
Ownership Type: Corporate Owned
Office/Contract Info
Status: Active
Current Price: $800,000
List Price: $800,000
Auction or For Sale: For Sale
List Price/SqFt: 173.8
Sub Agency Type: %
Buyer Agency: 2
Buyer Agency Type: %
Trans Coord Type: %
Listing Date: 2024-04-03
General Property Info
Lot Measurement: Acres
Lot Square Footage: 17424
Lot Acres: 0.4
Lot Dimensions: 132 x 132
Year Built: 1906
New Construction: No
Cert of Compliance: Yes
Road Frontage: 264
Total # Units: 5
# of Diff Unit Floor Plans: 5
Total # Bldgs: 1
Total Approx. SqFt All Bldgs: 4603
Total Parking Spaces: 5
Waterfront: No
School District: Muskegon
Tax Info
Tax ID #: 24-205-230-0003-00
Taxable Value: 57855
SEV: 78600
For Tax Year: 2023
Annual Property Tax: 3480
Tax Year: 2023
Spec Assessment & Ty: none known
Zoning: R-3
Remarks & Misc
Directions: Apple to Terrace, South to Home.
Legal: CITY OF MUSKEGON REVISED PLAT OF 1903 LOTS 3-4 BLK 230 SUBJ TO ELECTRIC ESMT L/P 4304/252
Waterfront Options
Water Access Y/N: No
Access Feat
Accessibility Features: No
Unit 1
Unit #: 1
Unit Description: lower left
SqFt: 808
Occupied: No
Bedrooms: 1
Bathrooms: 1
Full Baths: 1
Unit 2
Unit #: 2
Unit Description: Lower Right
SqFt: 665
Occupied: No
Bedrooms: 1
Bathrooms: 1
Full Baths: 1
Unit 3
Unit #: 3
Unit Description: Second Right
SqFt: 712
Occupied: No
Bedrooms: 1
Bathrooms: 1
Full Baths: 1
Unit 4
Unit #: 4
Unit Description: Second Left
SqFt: 720
Occupied: No
Bedrooms: 1
Bathrooms: 1
Full Baths: 1
Unit 5
Unit #: 5
Unit Description: 3rd Floor
SqFt: 1146
Occupied: No
Bedrooms: 1
Bathrooms: 1
Full Baths: 1
Property Features
Laundry Features: Common Area; In Unit
Exterior Material: Wood Siding
Roofing: Composition
Substructure: Daylight; Full
Lot Description: Corner Lot; Flag Lot
Sewer: Public
Water: Public
Utilities Attached: Cable; Electric; Natural Gas
Util Avail at Street: Broadband; Cable; Electric; Natural Gas; Public Sewer; Public Water; Storm Sewer; Telephone Line
Extras: Laundry Facility
Owner Pays: None
Tenant Pays: None
Heat Source: Electric
Heat Type: Wall Furnace
Air Conditioning: Central Air
Driveway: Concrete
Street Type: Paved
Mineral Rights: Unknown
Terms Available: Cash; Conventional
Sale Conditions: None
Unit 1: A/C Unit; Central Air; Dishwasher; Range Oven; Refrigerator; Sep. Heat System; W/D Hookup; Washer/Dryer
Unit 2: A/C Unit; Central Air; Dishwasher; Range/Oven; Refrigerator; Sep. Heat System; W/D Hookup; Washer/Dryer
Unit 3: Range/Oven; A/C Unit; Central Air; Deck/Patio; Dishwasher; Refrigerator; Sep. Heat System; Washer/Dryer
Unit 4: A/C Unit; Central Air; Deck/Patio; Dishwasher; Range/Oven; Refrigerator; Sep. Heat System; Washer/Dryer
Unit 5: A/C Unit; Central Air; Dishwasher; Range/Oven; Refrigerator; Sep. Heat System; Washer/Dryer
Supplements
Head inside and you are greeted with a beautiful common space with original hard wood floors as well as the stairway with original stair post with wonderful detail. Each unit has all new vinyl plank flooring, quartz counter tops, tile back splash, plenty of lighting, and stainless steal appliances. Units 1 and 2 have their own in unit laundry. Units 3,4,and 5 share the laundry on the second level common space. Units are heated and cooled using mini split systems that control the temperature in each room using only electricity. All units have also been furnished and stocked with everything needed to operate as a short term rental. This property would make a wonderful short term rental or high end rental property. Other notable details are that the floors have been leveled using gypcrete which makes sure there is zero sloping but also improves fire rating as well as reduces floor noise. All new electrical, plumbing, insulation and HVAC. There is a fire suppression system as well. Also ring flood light cameras cover all 4 corners of the house giving 360 degree sight and sound 24/7. The exterior also has new concrete with plenty of parking. Projections on short term rental are an average of $150 per night with and occupancy of 60% or 220 nights per unit. resulting in a projected income of $165,000 per year. This is a great opportunity to own a beautiful landmark property in the growing Muskegon market. Listing agent is the owner. Please call with any questions.
Listing Office: Five Star Real Estate (Grandv)
Listing Agent: Andrew Straub
Last Updated: April - 03 - 2024
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