Unlock the potential of this 4-plex multifamily investment home in beautiful Elk Rapids! Once a booming motel, this building has now been turned into a multi-unit apartment complex providing an excellent opportunity for both seasoned investors and first-time buyers looking to enter the multifamily market. Currently fully occupied with long-term tenants, this property has a proven track record of generating reliable rental income. Ideal for investors looking for immediate cash flow. Conveniently located in walking distance to the Elk Rapids day park, biking distance to downtown Elk Rapids with various shops and restaurants, and a quick drive into Acme. Its prime location ensures high demand for rentals. This multifamily home is not just a property; it’s an investment in your future! Whether you're looking to expand your real estate portfolio or start your journey in multifamily investments, this opportunity is not to be missed.
Sold for $325,000
$325,000
10456 S Us Highway 31, Elk Rapids, MI 49629
3beds
4baths
2,171sqft
Multi Family
Built in 1959
-- sqft lot
$365,900 Zestimate®
$150/sqft
$1,920 Estimated rent
Home value
$365,900
Estimated sales range
Not available
$1,920/mo
Zestimate® history
Owner options
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$1,920/mo
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$1,920/mo
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$2,042/mo
Est. payment
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$2,042/mo
Est. payment
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Zillow last checked:
Listing updated:
Listed by:
Chelsea Bryant 855-450-0442,
Real Broker LLC 855-450-0442
Bought with:
Kathy Wittbrodt, 6502126294
Wittbrodt WATERSIDE PROPERTIES
Source: NGLRMLS,MLS#: 1927844
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 3
- Bathrooms: 4
Heating
- Forced Air, Natural Gas
Appliances
- Included: Refrigerator, Oven/Range, Washer, Dryer, Electric Water Heater, Water Softener Rented
Features
- Storage, Entrance Foyer, Cable TV, WiFi
- Has fireplace: No
- Fireplace features: None
Interior area
- Total structure area: 2,171
- Total interior livable area: 2,171 sqft
Property
Parking
- Parking features: Other
Accessibility
- Accessibility features: None
Features
- Levels: Two
- Stories: 2
- Has spa: Yes
- Has view: Yes
- View description: Countryside View, Seasonal View
- Waterfront features: None
Lot
- Size: 1.26 Acres
- Dimensions: 300 x 119 x 150 x 178 x 225
Details
- Additional structures: Shed(s)
- Parcel number: 050602901400
- Zoning description: Multi-Family
Construction
Type & style
- Home type: MultiFamily
- Architectural style: Apartment
- Property subtype: Multi Family
- Attached to another structure: Yes
Materials
- Timber Frame, Wood Siding
- Foundation: Slab
- Roof: Asphalt
Condition
- New construction: No
- Year built: 1959
Utilities & green energy
- Sewer: Private Sewer
- Water: Private
Community & HOA
Community
- Features: Common Area
- Security: Smoke Detector(s)
- Subdivision: Elk Rapids
Location
- Region: Elk Rapids
Financial & listing details
- Price per square foot: $150/sqft
- Tax assessed value: $304,800
- Annual tax amount: $5,558
- Price range: $325K - $325K
- Date on market: 10/4/2024
- Cumulative days on market: 54 days
- Listing agreement: Exclusive Right To Sell
- Listing terms: Conventional,Cash,1031 Exchange
- Ownership type: Private Owner
- Lease term: 12 Months
- Total actual rent: 3100
Price history
| Date | Event | Price |
|---|---|---|
| 11/27/2024 | Sold | $325,000-14.5%$150/sqft |
Source:  NGLRMLS #1927844 Report a problem | ||
| 10/4/2024 | Listed for sale | $380,000+76.7%$175/sqft |
Source: NGLRMLS #1927844 Report a problem | ||
| 1/9/2018 | Sold | $215,000$99/sqft |
Source: EXIT Realty solds #5698388541774931019 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $5,558 +4.2% | $152,400 -3.4% |
| 2024 | $5,332 +6% | $157,800 +1.7% |
| 2023 | $5,031 | $155,200 +13.5% |
| 2022 | -- | $136,800 +10.9% |
| 2021 | -- | $123,300 +5.6% |
| 2020 | -- | $116,800 +28.4% |
| 2017 | $3,569 | $91,000 -0.4% |
| 2016 | -- | $91,400 -5.8% |
| 2015 | -- | $97,000 +12% |
| 2014 | -- | $86,600 -1.4% |
| 2013 | -- | $87,800 |
Find assessor info on the county website
Neighborhood: 49629
Nearby homes
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Nearby schools
GreatSchools rating
- 8/10Lakeland Elementary SchoolGrades: PK-5Distance: 1.7 mi
- 8/10Cherryland Middle SchoolGrades: 6-8Distance: 1.7 mi
- 10/10Elk Rapids High SchoolGrades: 9-12Distance: 1.6 mi
Schools provided by the listing agent
- District: Elk Rapids Schools
Source: NGLRMLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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$365,900
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+$7,318
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$373,218
- Michigan
- Antrim County
- Williamsburg
- 49629
- 10456 S Us Highway 31
Nearby cities
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