Petoskey, MI 49770 624 Michigan Street
$850,000
14 more
Presented By: Christopher Skrobeck at Van Treese Management LLC - (231) 373-7921
Home Details
Victorian-style 5-unit in the heart of Petoskey with excellent walkability. Extensive recent work: new roof/fascia, two-coat exterior paint, remodeled breezeways, upgraded electrical/plumbing in select units, full unit renovations with updated kitchens/baths, and a new laundry room build-out. In-place rent ~$7,500/mo with proven demand. City utilities. Appealing curb presence with bay windows and tasteful landscaping. Solid in-place operations with value in continued unit optimization and amenity enhancements.
Presented By: Christopher Skrobeck at Van Treese Management LLC - (231) 373-7921
Interior Features for 624 Michigan Street
Bathrooms
Total Baths
Other Interior Features
Air Conditioning Y/NNo
BasementMichigan Basement
Basement (Y/N)Yes
Heating Y/NYes
Laundry FeaturesCommon Area, Laundry Closet, Lower Level
General for 624 Michigan Street
Additional Parcels Y/NNo
CityPetoskey
Construction MaterialsWood Siding
CoolingNone
CountyEmmet
Gross Income90000.0
HeatingForced Air, Wall Furnace
High School DistrictPetoskey
Insurance Expense5312.0
Land Lease Y/NNo
Lease Renewal Y/NNo
Legal DescriptionCHARLES CARMICHAEL'S ADD. LOT 4 BLK 3 ALSO .5 FT OF W SIDE OF W SIDE OF N 87' OF LOT 3 BLK 3. SECTION 5, T34N, R5W.
Listing TermsFHA, Cash, Conventional
Lot Size Square Feet7439.0
Lot Size UnitsAcres
MobileHomeRemainsYNNo
Net Operating Income47819.93
New ConstructionNo
Number Of Units Total5
Occupancy TypeTenant
Operating Expense39932.48
OwnerPaysTrash Collection, Electricity, Water, Sewer, Gas
PossessionClose Of Escrow, Subject To Tenant Rights
Property Subtype5+ Units
Property TypeMulti Family
Rent Control Y/NNo
RoofComposition
Senior CommunityNone
SewerPublic Sewer
Standard StatusActive
StatusActive
Tax Annual Amount10400.0
Tax Assessed Value142905
Tax Year2024
Tenant PaysNone
TownshipPetoskey City
UtilitiesNatural Gas Available, Electricity Available, Natural Gas Connected, Electricity Connected
Year Built1900
Exterior for 624 Michigan Street
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot Dimensions50x145
Lot FeaturesSidewalk
Lot Size Acres0.17
Lot Size Area0.17
Number of Buildings1
Road Surface TypePaved
SpaNo
Total Parking0.0
Waterfront Y/NNo
Additional Details
Price History
Caylie Barras
Broker
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License #543277