Excellent investment opportunity — a fully occupied 6-unit apartment complex ideally located directly across from McLaren Hospital and just minutes from Downtown Cheboygan. The property totals approximately 7,500 SF on 2.5 ± acres and consists of three 3-bedroom / 1.5-bath units and three 2-bedroom / 1.5-bath units, all currently leased month-to-month. Each unit offers two private parking spaces, a semi-private backyard area, and a dedicated storage shed. Currently offered at an approximate 8.35% CAP rate, with value-add potential through future development of the property’s excess acreage. Don’t miss this opportunity to invest in one of Cheboygan’s best-located multifamily assets.
REDUCTION !!! INVESTMENT OPPORTUNITY . ONE 4 UNIT HOUSE, ONE 6 UNIT HOUSE, AND ONE 2 BEDROOM HOUSE FOR SALE. We also have an extra lot for sale off Backus street that comes with the package. Nice parking lot in back for all tenants. Located in Downtown Cheboygan, we are within walking distance for everything. There has never been a problem keeping all units rented. Expected net in 2025 is $56,000. Land Contract, 20% down, 5.25% interest, or cash. Call today for more details.
Cheboygan is located in Michigan. Cheboygan, Michigan has a population of 4,797. Cheboygan is more family-centric than the surrounding county with 31.14% of the households containing married families with children. The county average for households married with children is 23.09%.
The median household income in Cheboygan, Michigan is $38,750. The median household income for the surrounding county is $53,482 compared to the national median of $69,021. The median age of people living in Cheboygan is 41 years.
The average high temperature in July is 78.1 degrees, with an average low temperature in January of 8.5 degrees. The average rainfall is approximately 31.1 inches per year, with 93.8 inches of snow per year.
