$399,900
$399,900
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5 Beds
1.31 Acres Lot
SOLD DATE : 09/11/2023
Key Details
Sold Price $399,900
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 69023022740
Sold Date 09/11/23
Bedrooms 5
Originating Board Southwestern Michigan Association of REALTORS®
Year Built 1920
Annual Tax Amount $4,839
Lot Size 1.310 Acres
Acres 1.31
Lot Dimensions irr
Property Description
Excellent investment opportunity, endless possibilities & deeded Paw Paw Lake access just steps away! Short term rentals (VRBO) are allowed, no permit needed but inspection is required every 3 years. Great beach town! Previously a hotel, this property currently rents as 5 units, all month to month. The main house has 2 rented units with an additional 5 bed/1bath (all on the 2nd floor) unutilized. Imagine how much more income potential there is! It could also be converted back to a single family home and you would still have 3 extra cottages to generate revenue. The 3 cottages can be parceled off with the addition of a well. There is also a buildable wooded parcel of land adjacent to the main house that could be sold. Close to restaurants, wineries and only 90 minutes to Chicago!
Location
State MI
County Berrien
Area Coloma Twp
Direction Paw Paw Lake Rd to Lakewood St, rt on Blum Ave, lt on Central Ave
Interior
Interior Features Cable Available
Heating Baseboard, Radiant, Wall/Floor Furnace
Fireplace no
Heat Source Natural Gas
Exterior
Garage Spaces 10.0
Waterfront no
Waterfront Description Shared Water Frontage,Lake/River Priv
Water Access Desc All Sports Lake
Roof Type Composition
Garage no
Building
Foundation Michigan Basement
Sewer Public Sewer (Sewer-Sanitary), Sewer at Street
Water Well (Existing)
Structure Type Aluminum,Other,Vinyl
Schools
School District Coloma
Others
Pets Allowed Yes
Tax ID 110846000167060
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing Cash,Conventional
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