InnShopper > Inns for Sale > Michigan > Charlevoix > 103-105 W Lincoln - Vacation Rentals

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



Property Details
Financial Details
  • Offered for sale at $300,000
  • Occupancy Rate: Offering Memorandum Available
  • Annual revenue is $55,329
  • Terms: 6.7 CAP
Contact Information