Welcome to a fantastic investment opportunity in Rapid River â?? a 7-unit property ready to generate steady income for you. Currently, all units are rented out , offering a reliable stream of rental income. The rental rates are favorable, and utilities, including cable, are conveniently included. This property boasts a strong rental history, ensuring a stable and lucrative investment for the future. Tenants can also enjoy a designated picnic area for added comfort and relaxation. Additionally, there's a 2-car detached garage available for personal use or as an additional rental opportunity, providing even more potential for income generation. The unit mix includes 6 studios and a spacious one-bedroom unit, catering to a diverse range of tenants. Numerous updates have been made throughout the years, enhancing the property's appeal and value. Most units are rented on a monthly basis, with some owners also accepting weekly rentals, maximizing occupancy rates. With a total monthly rent of $4805.00 this investment promises excellent returns. Don't miss out on this incredible opportunity to secure a profitable investment in Rapid River. Contact us today to learn more and seize the chance to add this gem to your portfolio. The roof is scheduled to be replaced as weather permits.
Rapid River is located in Michigan. Rapid River, Michigan has a population of 3,499. Rapid River is less family-centric than the surrounding county with 21.77% of the households containing married families with children. The county average for households married with children is 23.81%.
The median household income in Rapid River, Michigan is $57,930. The median household income for the surrounding county is $51,117 compared to the national median of $69,021. The median age of people living in Rapid River is 54 years.
The average high temperature in July is 76.9 degrees, with an average low temperature in January of 8.9 degrees. The average rainfall is approximately 30.3 inches per year, with 78.1 inches of snow per year.
