1001 Agate & 1100 Eleventh Avenue, Houghton MI 49931 – (MLS #50144139)

Description

OFFERS: Written offers with prequalification letter or proof of funds submitted by 6/15/2024 at 1pm. Offer response times preferred to be no sooner than 6/18/2024 at 5pm. Seller, at seller’s sole discretion, with or without notice, reserves the right to set and/or modify deadlines for receipt of and seller?s response to offers. *** CITY OF HOUGHTON – INVESTMENT OPPORTUNITY! 9 rental units located in East Houghton with convenient proximity to Michigan Tech’s main campus and the Student Development Complex. The property consists of 2 multi-level buildings. 1001 Agate has four apartments with 2 bedroom and 1 bathroom. 1100 Eleventh Ave has 5 apartments, four with 2 bedrooms and 1 bathroom and one with 3 bedroom and 1 bathroom. The typical floor plan of each unit is an eat-in kitchen, living room, bedrooms with closets and full bathroom. Each unit has an oven/range, refrigerator, dishwasher and microwave. There is a coin operated laundry facility in one of the buildings for all units to utilize (2 washers and 2 dryers). All units have electric heat. 1001 Agate has supplements forced air heat (2014, 1 duct to each apartment in this building only) that the landlord runs during December, January and February. Building construction is modular and year built is estimated to be 1976. Some storage cages are available for tenants. Parking for the units is paved. Property is a licensed rental in the City of Houghton. All leases are through May 2025. City of Houghton rental license is for 19 occupants. Rental income information is available with a non-disclosure agreement and preapproval and/or proof of funds letter. Preapproval letter is required for showings. Photos are a sampling of the units. NOTICE: All information believed accurate but not warranted. Buyer recommended to inspect all aspects of the property & bears all risks for any inaccuracies. Buyer to verify all information including but not limited to the estimated acreage, lot size, square footage, utilities (availability & costs associated). Buyer should not assume the buyer’s taxes will be the same as seller’s present tax bills. Taxes are subject to change (possibly significant) & property will be reassessed by the municipality after sale is completed. Sellers may have audio/video recording devices present on property and buyers and agents consent to being recorded by entering property. OFFERS: 72 hours response time requested on offers. Seller, at seller’s sole discretion, with or without notice, reserves the right to set and/or modify offer submission & response deadlines. Seller may be doing a 1031 Exchange.