407 Shelden Ave Houghton, MI 49931

This property consists of 16 one-bedroom apartment units and 2 storefronts, generating approximately $131,000 in gross annual rents. The apartments are located in a high-demand downtown area, where units rent quickly. Apartment tenants pay their own electricity and cable/wifi, while storefront tenants cover all utilities except water and sewer. Rents are currently below market value, offering potential for increases. Additional income opportunities exist through rent adjustments or converting units into vacation rentals, subject to zoning approval. Proof of funds or a pre-qualification letter is required to schedule a viewing. The seller prefers an outright sale but is open to seller financing up to $100,000 with an 18-month balloon period. The deadline for offers is Monday, December 23rd, at noon, with the seller responding to offers on the same day. The seller may consider cash, non-contingent offers prior to the deadline. Viewing time available (with appointment): Friday, December 20th, 10:30 AM–3:30 PM, Saturday, December 21st, 1:00–5:00 PM One storefront unit, 5 representative apartments, the mechanical room, and common areas can be viewed during the initial showing. The remainder can be viewed with an inspection contingency. The listing agent will be present for all viewings. Further information is available with a signed non-disclosure agreement.