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1164 Terrace Street

Muskegon, MI 49442
  • $800,000
  • STATUS: Active
  • ON SITE: 54 Days
  • MLS #: 24015581
$800,000
  • 5
    BEDS
  • 0.4
    ACRES
  • 5
    BATHS
  • 0
    1/2 BATHS
  • 4,051
    SQFT
  • $197
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1906
County:

School Ratings & Info

School District:

Description

This beautiful historic flagship home has been renovated from the studs in to create a wonderful 5 unit investment property that is turn key and ready to produce income! This property has a short term rental certificate from the City. No expense was spared in turning this property into what it is today. From the moment you pull up charm and historical beauty abound. The exterior is beautifully landscaped and is also equipped with in-ground sprinkling for the yard and plant beds. Additional exterior notes are new roof, new windows (other than a few windows in unit 2), and professionally restored and painted siding. The charm continues when walking up the stairs to the large wrap around front porch. Head inside and you are greeted with a beautiful common space with original hard wood floors as well as the stairway with original stair post with wonderful detail. Each unit has all new vinyl plank flooring, quartz counter tops, tile back splash, plenty of lighting, and stainless steal appliances. Units 1 and 2 have their own in unit laundry. Units 3,4,and 5 share the laundry on the second level common space. Units are heated and cooled using mini split systems that control the temperature in each room using only electricity. All units have also been furnished and stocked with everything needed to operate as a short term rental. This property would make a wonderful short term rental or high end rental property. Other notable details are that the floors have been leveled using gypcrete which makes sure there is zero sloping but also improves fire rating as well as reduces floor noise. All new electrical, plumbing, insulation and HVAC. There is a fire suppression system as well. Also ring flood light cameras cover all 4 corners of the house giving 360 degree sight and sound 24/7. The exterior also has new concrete with plenty of parking. Projections on short term rental are an average of $150 per night with and occupancy of 60% or 220 nights per unit. resulting in a projected income of $165,000 per year. This is a great opportunity to own a beautiful landmark property in the growing Muskegon market. Listing agent is the owner. Please call with any questions.

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© 2024 MichRIC, LLC. All rights reserved. Information deemed reliable but not guaranteed. Updated: 2024-05-26T22:55:18.903.
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1164 Terrace Street Muskegon, MI 49442

  • Price: $800,000
  • Status: Active
  • On Site: 54 Days
  • MLS #: 24015581
5
Beds
5
Baths
0
½ Baths
0.4
Acres
4,051
SQFT
$197
$/SQFT
1906
Built
Neighborhood:
Muskegon City
County:
Muskegon
School District:
Muskegon
Property Description
This beautiful historic flagship home has been renovated from the studs in to create a wonderful 5 unit investment property that is turn key and ready to produce income! This property has a short term rental certificate from the City. No expense was spared in turning this property into what it is today. From the moment you pull up charm and historical beauty abound. The exterior is beautifully landscaped and is also equipped with in-ground sprinkling for the yard and plant beds. Additional exterior notes are new roof, new windows (other than a few windows in unit 2), and professionally restored and painted siding. The charm continues when walking up the stairs to the large wrap around front porch. Head inside and you are greeted with a beautiful common space with original hard wood floors as well as the stairway with original stair post with wonderful detail. Each unit has all new vinyl plank flooring, quartz counter tops, tile back splash, plenty of lighting, and stainless steal appliances. Units 1 and 2 have their own in unit laundry. Units 3,4,and 5 share the laundry on the second level common space. Units are heated and cooled using mini split systems that control the temperature in each room using only electricity. All units have also been furnished and stocked with everything needed to operate as a short term rental. This property would make a wonderful short term rental or high end rental property. Other notable details are that the floors have been leveled using gypcrete which makes sure there is zero sloping but also improves fire rating as well as reduces floor noise. All new electrical, plumbing, insulation and HVAC. There is a fire suppression system as well. Also ring flood light cameras cover all 4 corners of the house giving 360 degree sight and sound 24/7. The exterior also has new concrete with plenty of parking. Projections on short term rental are an average of $150 per night with and occupancy of 60% or 220 nights per unit. resulting in a projected income of $165,000 per year. This is a great opportunity to own a beautiful landmark property in the growing Muskegon market. Listing agent is the owner. Please call with any questions.
Exterior Features

Attached Garage YN No Construction Materials Wood Siding Corner Lot YN Yes Lot Features Flag LotCorner Lot Parking Total 5 Road Surface Type Paved Roof Composition Water Access YN No Waterfront YN No

Interior Features

Basement DaylightFull Basement YN Yes Cooling Central Air Cooling YN Yes Heating Wall FurnaceElectric Heating YN Yes

Property Features

Auction Or For Sale For Sale Cross Street Delaware and Terrace Documents Available [] Listing Terms CashConventional New Construction YN No Owner Pays None Property Sub Type 5+ Units Sewer Public Sewer Tax Annual Amount 3480 Tax Year 2023 Tenant Pays None Utilities Phone AvailableStorm Sewer AvailablePublic Water AvailablePublic Sewer AvailableNatural Gas AvailableElectric AvailableCable AvailableBroadband AvailableNatural Gas ConnectedElectric ConnectedCable Connected Zoning R-3

Listing provided courtesy of Andrew Straub of Five Star Real Estate (Grandv): 616-257-1500. © 2024 MichRIC, LLC. All rights reserved. Information deemed reliable but not guaranteed.
© 2024 MichRIC, LLC. All rights reserved. Information deemed reliable but not guaranteed. Updated: 2024-05-26T22:55:18.903.
 
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