$452,000
$450,000
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403 Frankfort Avenue Gilmore Twp, MI 49628
3,900 SqFt
Key Details
Sold Price $452,000
Property Type Commercial
Sub Type Commercial
Listing Status Sold
Purchase Type For Sale
Square Footage 3,900 sqft
Price per Sqft $115
Subdivision Village Of Elberta
MLS Listing ID 78001330229
Sold Date 04/18/22
Originating Board Aspire North REALTORS®
Year Built 1898
Lot Size 4,356 Sqft
Acres 0.1
Lot Dimensions 60 x 70
Property Description
Unique opportunity to own 5 long term rental units or 5 airbnb units between 2 separate buildings on the same lot in the beautiful Village of Elberta just blocks from the lake! 2,800 sq. ft. building (403 Frankfort Ave) that includes an approx. 1,300 sq. ft. 2bd/1ba apartment (#1), and three approx. 500 sq. ft. studio apartments (#2-#4). Apartment #1 has been used as a commercial storefront in the past. Also included is a 1,100 sq. ft. 3bd/1ba house (408 Lincoln Ave) which is currently used as a short-term rental on Airbnb. Windows, flooring, furnace, water heater, plumbing and electric recently updated. House and apartment units are all metered separately, and the apartment building even includes a 5th "landlord" meter for outdoor lights, laundry, etc. Seller willing to negotiate furniture in apartment #2 and house. Pro forma financials available with signed NDA.
Location
State MI
County Benzie
Zoning Commercial,Multi-Family,Office,Residential
Interior
Heating Forced Air
Heat Source Natural Gas
Exterior
Roof Type Asphalt
Building
Foundation Crawl, Basement
Sewer Public Sewer (Sewer-Sanitary)
Water Public (Municipal)
Structure Type Frame,Wood
Others
Tax ID 0650103900
Ownership Private Owned
Acceptable Financing Cash, Other
Listing Terms Cash, Other
Financing Cash,Other
Special Listing Condition Unknown/Data Share Listings
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