103-105 W Lincoln - Vacation Rentals
Charlevoix, MI
Offered for sale at $300,000
Executive Summary
Purchase Price $300,000
Number of Unit - 4
Number of Buildings - 2
Parking – Driveway
Investment Highlights
• Property is fully furnished and all FFE is included in sale.
• Majority of units renovated with updated flooring and bathrooms.
• Standalone bathroom full gut rehab in the last 6 months.
• All units have individual furnaces and window units which are included.
• Stabilized cash flow and strong vacation rental marketing presence.
• 3 hot water heaters replaced in last 5 years.
• Strong vacation market that is a destination for many travelers all year around.
• Current owner is willing to continue management and marketing of the asset at
the new owner’s option.
Property Description
Address
103-105 W Lincoln Charlevoix MI 49720
Municipal Information
City of Charlevoix
Construction
Wood Frame Construction
Year Built
Over 75 years old
Parking
Driveway that can fit around 4 vehicles
Utilities
Separately metered
HVAC
Separate furnaces for the main building. Electric baseboard heat for the Standalone.
Laundry
None
Safety
Smoke Detectors and Carbon Monoxide Detectors in each unit
Offering Memorandum available upon request
Financial Details- Offered for sale at $300,000
- Occupancy Rate: Offering Memorandum Available
- Annual revenue is $55,329
- Terms: 6.7 CAP