$815,000
For Sale

13990 E Chicago Road

Cement City, MI 49233
Browse 63 photos
Type:Multi-Family
Structure:Unit
Zone:Residential

Description

**Seller will consider Land Contract terms** This property features 3 buildings with 14 motel rooms and a versatile apartment for a 15th room or Air BnB. Recent renovations and a new business model boosted average daily rates by 20% in May and 34% in June. The ranch home offers 2 beds, 1 bath, and an attached garage- perfect for a long term tenant/ STR or an owner-operator. Located a stone's throw from Lake Somerset, three other lakes within 2 miles (as well as the other 52 Lakes in the Irish Hills area), hotspot for visitors attending events at the Michigan International Speedway, Faster Horses Festival, various wedding and event venues, wineries, a charming cider mill, local parks, and renowned hunting spots. Ideal for investors seeking growth in a prime recreational area. This property is managed using 'Stayntouch' software (PMS) that allows for operation from anywhere. New 'Dormakaba' locks for all units have network connection to allow for automated check in, keypad access through integration with Stayntouch. Booking, check-in and check out can all be done electronically with a smartphone.

  • Property Details
      • Acres5
  • Construction Details
      • BasementCrawl Space, Full
      • Property TypeMulti-Family
    • Condition
      • Year Built1950
  • Utilities / Energy Details
      • Utility FeaturesPhone Connected, Natural Gas Connected, Electricity Connected, Cable Connected
      • Sewer InformationSeptic System
  • Community and Neighborhood Details
      • CountyHillsdale
      • School DistrictAddison
  • Financial Details
      • Original List Price$850,000
      • Days on Market (Cumulative)97
  • Other
      • MLS #24030730

Location

Workhorse Realty LLCReal Estate Group
$
years

Down Payment

$
%
10.0%

Interest Rate

%
6.0%

Tax Rate

%
2.6%
$
annually
$
monthly

Note: The results shown are estimates only and do not include all factors. Speak with a licensed agent or loan provider for exact details. This tool is sourced from CloseHack.

Estimated Monthly Payment
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Loan Amount
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