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8528 Valley Road, Nw

Rapid City, MI 49676
  • $1,000,000
  • STATUS: Active Under Contract
  • ON SITE: 10 Days
  • MLS #: 1922135
Under Contract
UPDATED: 117 min ago
$1,000,000
  • 0
    BEDS
  • 2.5
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 6,636
    SQFT
  • $151
    $/SQFT
Neighborhood:
Type:
Business Opportunity
Built:
1970
County:

School Ratings & Info

Description

Rare investment opportunity! This 16-unit apartment complex is nestled in a charming country setting, just 3.5 miles away from the renowned Torch Lake sandbar. Situated on a spacious 2.5-acre lot, this property is zoned commercial-improved, offering a myriad of possibilities for savvy investors. With all tenants on month-to-month leases and up-to-date on rent, the groundwork is laid for a smooth transition into ownership. More than 50% of the units have been remodeled, including cabinets, countertops, carpet, and fixtures. New roof installed approximately 2019. The property is serviced by a well and septic system, providing a cost-effective and reliable utility solution. Each apartment features separate electrical service meters and electric heating sources, ensuring convenience and efficiency for both tenants and landlord. A notable feature of this property is the recent installation of fiber optic connectivity at the road, enhancing its appeal in today's digital world. Additionally, amenities such as an office space and a laundry mat with hook-ups ready for your machines offer added value to this enticing offer. A significant advantage of this property is its history as a former motel, presenting a lucrative opportunity given the scarcity of similar accommodations near the Torch Lake sandbar. Don't miss out on the chance to own a piece of prime real estate this versatile property opens up endless potential for lucrative ventures.

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[MiRealSource] logo ©2024 MiRealSource (Michigan Multiple Listing Service). All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or The BRAND Real Estate. The information provided hereby constitutes proprietary information of MiRealSource, Inc. and its shareholders, affiliates and licensees and may not be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording, scanning or any information storage and retrieval system, without written permission from MiRealSource, Inc. Data last updated: 2024-05-20T22:49:56.933.
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8528 Valley Road, Nw Rapid City, MI 49676

  • Price: $1,000,000
  • Status: Active Under Contract
  • On Site: 10 Days
  • Updated: 117 min ago
  • MLS #: 1922135
0
Beds
0
Baths
0
½ Baths
2.5
Acres
6,636
SQFT
$151
$/SQFT
1970
Built
Neighborhood:
Metes & Bounds
County:
Kalkaska
Area:
Clearwater Twp (40004)
Property Description
Rare investment opportunity! This 16-unit apartment complex is nestled in a charming country setting, just 3.5 miles away from the renowned Torch Lake sandbar. Situated on a spacious 2.5-acre lot, this property is zoned commercial-improved, offering a myriad of possibilities for savvy investors. With all tenants on month-to-month leases and up-to-date on rent, the groundwork is laid for a smooth transition into ownership. More than 50% of the units have been remodeled, including cabinets, countertops, carpet, and fixtures. New roof installed approximately 2019. The property is serviced by a well and septic system, providing a cost-effective and reliable utility solution. Each apartment features separate electrical service meters and electric heating sources, ensuring convenience and efficiency for both tenants and landlord. A notable feature of this property is the recent installation of fiber optic connectivity at the road, enhancing its appeal in today's digital world. Additionally, amenities such as an office space and a laundry mat with hook-ups ready for your machines offer added value to this enticing offer. A significant advantage of this property is its history as a former motel, presenting a lucrative opportunity given the scarcity of similar accommodations near the Torch Lake sandbar. Don't miss out on the chance to own a piece of prime real estate this versatile property opens up endless potential for lucrative ventures.
Exterior Features

Exterior Construction FrameVinyl Siding Foundation Type Slab Lot Size 222x470x198x569 Parking 11-20 SpacesParking Lot Roofing Asphalt

Interior Features

Basement YN No Commercial Features Bath Fuel Type Electric Heating System Baseboard

Property Features

Business Name Clearwater Apartments Commercial Type Business Financial Terms CashConventional Lease YN No Municipality Clearwater Twp Ownership Private Sale Includes Inventory SEV 175200 Sev Year 2023 Sewer Septic Septic Summer Tax Amount 5761 Summer Tax Year 2023 Total Tax Amount 7237 Water Private Well Winter Tax Amount 1476 Winter Tax Year 2023 Zoning Multi-Family

Listing courtesy of REMAX Bayshore - W Bay Shore Dr TC : 231-941-4500.

Source MLS: MiRealSource
Originating MLS: Aspire North REALTORS

[MiRealSource] logoProvided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource. The information published and disseminated by the Originating MLS is communicated verbatim, without change by the Originating MLS, as filed with it by its members. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified.


[MiRealSource] logo ©2024 MiRealSource (Michigan Multiple Listing Service). All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or The BRAND Real Estate. The information provided hereby constitutes proprietary information of MiRealSource, Inc. and its shareholders, affiliates and licensees and may not be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording, scanning or any information storage and retrieval system, without written permission from MiRealSource, Inc. Data last updated: 2024-05-20T22:49:56.933.
 
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5400 Gateway Center Ste B
Mundy Twp MI, 48507