2870 N US 31 Highway Arbor Apts $395,000

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    2870 N US 31 Highway Arbor Apts Levering, MI 49755

    • 0 Beds
    • 0 Baths
    • 2,800 sq. ft.
    • Multi-Family
    • MLS# 468344
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    Views: 191 Days On Site: 910

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    Property Details

    Terms Available! Looking for an Income Property or Rental Business Opportunity? The Arbor Apartments on US 31 North in Levering is a 7 unit apartment building with on site coin-op laundry and is zoned B-1/FF-2. 100% Occupied with leased tenants, 8.5% Cap Rate. Emmet County B-1 Zoning offers opportunities from Motel, Cabins, Bed & Breakfast to Retail, Office or Adult Foster Care Home. There may be room for a buyer to explore expanding the number of units. This apartment complex has a solid rental history and excellent visibility on the Northern corridor of US 31~ Just a few minutes from Pellston Airport, Mackinaw City, trails and lakes. Excellent High Visibility location to build your ideas and dreams into reality. The Adjacent and surrounding parcel is also listed separately MLS 468345 with 7 acres & a home~ if combined, these parcels could take the income variables to an entirely new level!Talk about potential~Yeah, let's talk about it!

    • General Features
      • Above Ground Sq Footage 2800
      • Approx Year Built 1950
      • Association No
      • County Emmet
      • Features Refrigerator
      • Heat1 LP Gas
      • Num Electric Meters 1
      • Total Sq Ft 2800
      • Township McKinley
      • Type1 Apartments
      • Water Well
      • Water Front Water Access Neither
    • Building Features
      • Basement None, Slab
      • Construction Wood Frame
      • Num Of Units 7
      • Roof Asphalt Shingles
      • Windows Insulated
    • Property Features
      • Approx Lot Dimensions 100x575 irr
      • Approx Number Of Acres 1.6
    • Schools
      • School District Pellston
    • Additional Features
      • Sewer Septic

    Neighborhood

    49755 (Levering) Demographics

    51 Median Age
    18 Population Density (per sq. mile)
    29% College Educated
    $50,260 Estimated Median Income
    728 Estimated Total Home Owners
    121 Estimated Total Renters
    86% / 14% Estimated Owner / Renter Divide
    2 Estimated Average Household Size
    1,861 Total Population
    Community data courtesy of LiveBy, Inc.

    Market Last 30 Days In This Postal Code

    $290,000 Median Sales Price
    5 Homes Sold
    0 New On Market

    Average Days on Site

      Properties for Sale

        Calculations provided by Reliance Network

        Property History

        Date Event Price Percent Change
        -- Current Price Source: Multiple Listing Service New Value: $395,000
        5/26/2022 4:36:00 PM New in Database Source: Multiple Listing Service New Value: $395,000

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        All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither the listing broker(s) nor RE/MAX of Michigan shall be responsible for any typographical errors, misinformation, misprints, and shall be held totally harmless. Northern Michigan MLS, Inc © All rights reserved.

        NM-MLSX (IDX) information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing



        Note: All room dimensions, including square footage data, are approximate and must be verified by the buyer. The information contained herein is furnished by the owner to the best of his/her knowledge but is subject to verification by the purchaser, and agent assumes no responsibility for the correctness thereof. The sale offering is made subject to errors, omissions, change of price, prior sale, or withdrawal without notice. In accordance with the Law, this property is offered without respect to race, color, creed, national origin, sex, familial status or disability. This is not intended to solicit property currently listed.