Petoskey, MI 49770 524 State Street
$850,000
2 more
Presented By: Christopher Skrobeck at Van Treese Management LLC - (231) 373-7921
Home Details
Classic, well-maintained 6-unit multifamily in a walkable Petoskey neighborhood near downtown, schools, and employment. Mix of renovated units with durable finishes; exterior paint, porch rebuild, foundation work, breezeway update, and other recent upgrades. In-place rent ~$8,150/mo with stable tenancy. City utilities. Clean common areas, covered front porch, and landscaped grounds. Strong rental history with opportunity to continue interior refresh program and capture market rent on renewals/turns.
Presented By: Christopher Skrobeck at Van Treese Management LLC - (231) 373-7921
Interior Features for 524 State Street
Bathrooms
Total Baths
Other Interior Features
Air Conditioning Y/NNo
BasementMichigan Basement
Basement (Y/N)Yes
Heating Y/NYes
Laundry FeaturesNone
General for 524 State Street
Additional Parcels Y/NNo
CityPetoskey
Construction MaterialsWood Siding, Other
CoolingNone
CountyEmmet
Gross Income97800.0
HeatingForced Air
High School DistrictPetoskey
Insurance Expense5312.0
Land Lease Y/NNo
Lease Renewal Y/NNo
Legal DescriptionVILLAGE OF PETOSKEY CITY LOT 6 BLK 6. SECTION 5, T34N, R5W.
Listing TermsFHA, Cash, Conventional
Lot Size Square Feet7120.0
Lot Size UnitsAcres
MobileHomeRemainsYNNo
Net Operating Income55024.35
New ConstructionNo
Number Of Units Total6
Operating Expense44575.65
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 Amount15500.0
Tax Assessed Value140700
Tax Year2024
Tenant PaysNone
TownshipPetoskey City
UtilitiesNatural Gas Available, Electricity Available, Natural Gas Connected, Electricity Connected, Cable Connected
Year Built1900
Exterior for 524 State Street
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot Dimensions50x145
Lot Size Acres0.16
Lot Size Area0.16
Number of Buildings1
Road Surface TypePaved
SpaNo
Total Parking0.0
Waterfront Y/NNo
Additional Details
Price History
Tam Huynh
Realtor
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License #543277