$800,000 $4,295 est/mo Sourced by Back At You

1164 Terrace Street,Muskegon, MI 49442

Muskegon MI, 49442

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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. 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.

Details

MLS#24015581
Listing TypeFor Sale
Sub-TypeResale
StatusActive
Year1906
Days On Site15
Listing Provided ByFive Star Real Estate (Grandv) | Andrew J Straub

Features

BasementY
Units5
Building(s)1
ZoningR-3
Acreage0.40

Market Activity 49442

MLS Internet Data Exchange (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, and that the data is deemed reliable but is not guaranteed accurate by the Michigan Regional Information Center.

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Learn More About This Property

StateMI
CountyMuskegon
CityMuskegon
Zip Code49442
AreaMuskegon County M
SubareaM
School DistrictMuskegon
Listing VS Median (in 49442)
Price:
$800,000
low | high
Med:
$148,900
100% of Average
On Site:
15
low | high
Med:
28.000000
53.571428571429% of Average
Sourced by Back At You
Listing Updated: April 3, 2024 at 12:13:49 PM PDT
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