624 Michigan Street, Petoskey
Listing Details
Portfolio sale of three multifamily assets within the City of Petoskey - 524 State (6 units), 624 Michigan (5), and 138 E Sheridan (5) - 16 units total. Walkable, high-demand neighborhoods close to downtown, employment, and waterfront. Current income approx $23,750/mo (~$285k/yr) with T12 NOI ~ $185,806 (Aug '24-Jul '25). Extensive capital improvements completed: More than $500,000 pre-sale across the portfolio plus more than $100,000 by current owner (LJM) in 2024-25, including AC systems, windows, foundation and interior upgrades. Offered as a portfolio only; properties will not be sold individually. Financials, rent roll, and improvement summaries available; showings by appointment with proof of funds. Do not disturb tenants.
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624 Michigan Street
Petoskey MI, 49770
$2,500,000
- Square Ft 8,496
- School District Petoskey
- County Emmet
- Water View No
- Waterfront No
- Type Multi-Family
- Subtype Other
- Zoning R-2
- Listing Courtesy of Van Treese Management LLC
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