V
Seller's Agent in 2024
Vern Harlock
NORTHERN MICHIGAN LAND BROKERS - H
5 in this area
29 Total Sales
55821 Lake Linden Ave Calumet Township, MI 49913
Estimated Value: $356,831
1
Bed
10
Baths
5,780
Sq Ft
$62/Sq Ft
Est. Value
Highlights
- 0.5 Acre Lot
- Furnished
- Forced Air Heating System
- Corner Lot
- 1-Story Property
About This Home
As of October 2024Welcome to the former Wonderland Motel, now a 9-unit apartment complex with an owner's quarters, offering a unique investment opportunity in the heart of the Keweenaw Peninsula. This property has been thoughtfully converted into 8 studio apartments and 1 two-bedroom apartment, making it a versatile option for medium or short-term rentals but currently operated primarily as long term rentals. The property has been well-maintained over the years, and the current owner, now retiring, is ready to pass the torch to an ambitious entrepreneur looking for their next adventure. Each unit is equipped with a small kitchen and a full bathroom with a shower, providing comfortable and self-sufficient living spaces for tenants. Currently, 8 of the units are rented, with potential to increase income to market rates. Three units are available for viewing with assistance from the listing agent, while further arrangements can be made to view the occupied units. Located centrally in the tourist area of the Keweenaw Peninsula and close to the hospital in Laurium, this property is ideally situated for those looking to capitalize on the area's growing demand for rental properties. All utilities are currently paid for by the owner, adding an extra layer of convenience for tenants. Affordably priced, this property is a fantastic opportunity for the right buyer to turn it into a successful rental business. Don’t miss out on this chance to invest in a property with great potential. Call today to schedule your viewing and explore the possibilities!
Last Agent to Sell the Property
NORTHERN MICHIGAN LAND BROKERS - H License #UPAR-6501455977 Listed on: 09/04/2024
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
Lot Details
- 0.5 Acre Lot
- 420 Ft Wide Lot
- Corner Lot
Parking
- 3 Car Parking Spaces
Home Design
- Pillar, Post or Pier Foundation
Interior Spaces
- 1-Story Property
- Furnished
- Oven or Range
Bedrooms and Bathrooms
- 1 Bedroom
- 10 Full Bathrooms
Utilities
- Forced Air Heating System
- Gas Water Heater
Listing and Financial Details
- Assessor Parcel Number 002-115-005-00
Community Details
Overview
- 10 Units
- Floridas Add To Laurium Subdivision
Building Details
- Net Operating Income $48,000
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Sep 4, 2024
Closed on
Oct 4, 2024
Sold by
Adiska Ted R
Bought by
Therrian Rentals Llc
Seller's Agent
Vern Harlock
NORTHERN MICHIGAN LAND BROKERS - H
Buyer's Agent
Craig Heinonen
COLDWELL BANKER SCHMIDT REALTORS
List Price
$325,000
Sold Price
$355,000
Premium/Discount to List
$30,000
9.23%
Views
2
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$1,831
Avg. Annual Appreciation
2.14%
Original Mortgage
$284,000
Outstanding Balance
$279,700
Interest Rate
0.64%
Mortgage Type
New Conventional
Estimated Equity
$81,601
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Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Therrian Rentals Llc | $355,000 | Transnation Title Agency |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | Therrian Rentals Llc | $284,000 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 10/09/2024 10/09/24 | Sold | $355,000 | +9.2% | $61 / Sq Ft |
| 09/07/2024 09/07/24 | Pending | -- | -- | -- |
| 09/04/2024 09/04/24 | For Sale | $325,000 | -- | $56 / Sq Ft |
Source: Upper Peninsula Association of REALTORS®
Tax History Compared to Growth
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $1,345 | $73,932 | $0 | $0 |
| 2023 | $1,291 | $71,113 | $0 | $0 |
| 2022 | $1,655 | $62,444 | $0 | $0 |
| 2021 | $1,622 | $58,636 | $0 | $0 |
| 2020 | $1,604 | $58,712 | $0 | $0 |
| 2019 | $1,580 | $57,800 | $0 | $0 |
| 2018 | $1,471 | $49,479 | $0 | $0 |
| 2017 | $1,439 | $49,479 | $0 | $0 |
| 2016 | -- | $49,479 | $0 | $0 |
| 2015 | -- | $49,479 | $0 | $0 |
| 2014 | -- | $49,479 | $0 | $0 |
Source: Public Records
Agents Affiliated with this Home
-
-
Buyer's Agent in 2024
Craig Heinonen
COLDWELL BANKER SCHMIDT REALTORS
(906) 231-3635
22 in this area
386 Total Sales
Map
Source: Upper Peninsula Association of REALTORS®
MLS Number: 50154140
APN: 002-115-005-00
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
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