NOT LISTED FOR SALE

605 Lakeshore Dr Ishpeming, MI 49849

Estimated Value: $471,876

-- Bed
1 Bath
9,594 Sq Ft
$49/Sq Ft Est. Value

Last Sold May 18, 2018

Last sale price $294,500 $31 Per Sq Ft

Est. 60% increase in value since last sale

Current estimated payment $3,457/month

8 Days on Market

Highlights

  • 1.9 Acre Lot
  • Shed
  • Laundry Facilities

About This Home

As of May 2018

Great investment opportunity! This is a 12 unit apartment complex with 100% occupancy and great tenant history. Main level has four 2 bedroom units, upper level has four 2 bedroom units and the lower level has three 2 bedroom units including a single 1 bedroom unit. Coin-op laundry is also in the lower level. Seller pays utilities for all common areas and water & sewer for whole building. Tenants pay electric and Charter cable. All units are electric heat. All appliances are included. Plenty of parking for two cars per unit.

Last Agent to Sell the Property

Fran Sevegney

RE/MAX 1ST REALTY License #UPAR-6501343111 Listed on: 04/02/2018

RE/MAX 1ST REALTY

Last Buyer's Agent

Kristine Goupille

RE/MAX 1ST REALTY License #UPAR

RE/MAX 1ST REALTY

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1977

Lot Details

  • 1.9 Acre Lot
  • Lot Dimensions are 300x275

Home Design

  • Vinyl Siding

Additional Features

  • Basement Fills Entire Space Under The House
  • Shed

Community Details

  • 12 Units
  • Laundry Facilities

Listing and Financial Details

  • Assessor Parcel Number 52-51-555-010-00

Property Details

Home Type

Multi-Family

Year Built

Built in 1977

Lot Details

0

Listing Details

  • Originating MLS: Upper Peninsula Assoc of Realtors
  • Class: MULTIFAMILY
  • Type Of Property: Multi-Family
  • Structure Style: More Than 2 Stories
  • Sub Structure Types: Shed
  • Total Tax Year: 2018
  • Year Built: 1977
  • Mail City: Ishpeming
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: Yes
  • Basement Type: Full

Exterior Features

  • Construction: Vinyl Siding
  • Roads: City/County

Utilities

  • Water: Public Water
  • Fuel Type: Electric
  • Heating System: Electric Heat
  • Sewer/Septic System: Public Sanitary

Condo/Co-op/Association

  • Community Amenities: Laundry Facility

Lot Info

  • Assessor Parcel Number: 52-51-555-010-00
  • Lot Dimensions: 300x275
  • Acreage: 1.9
  • Geo Subdivision: MI

Multi Family

  • Total Units: 12

Tax Info

  • Total Tax: Year: 2018

MLS Schools

  • School District: Ishpeming Public School District

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Jun 15, 2021
Sold by
Hill Holdings Llc
Bought by
906 Real Estate Holdinigs Llc
Current Estimated Value
$471,876

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,400,000
Outstanding Balance
$1,267,526
Interest Rate
2.9%
Mortgage Type
New Conventional
Estimated Equity
-$795,650

Purchase Details

Listed on
Apr 2, 2018
Closed on
May 18, 2018
Sold by
Marlys K Roberts Revocable Trust
Bought by
Hill Holdings Llc
Seller's Agent
Fran Sevegney
RE/MAX 1ST REALTY
Buyer's Agent
Kristine Goupille
RE/MAX 1ST REALTY
List Price
$329,000
Sold Price
$294,500
Premium/Discount to List
-$34,500
-10.49%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
6.38%

Purchase Details

Closed on
Nov 11, 1992
Bought by
Roberts Kevin and Roberts Laura
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
906 Real Estate Holdinigs Llc $1,750,000 Odea Nordeen And Pickens Pc
Hill Holdings Llc $589,000 --
Roberts Kevin $24,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open 906 Real Estate Holdinigs Llc $1,400,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
05/18/2018 05/18/18 Sold $294,500 -10.5% $31 / Sq Ft
04/10/2018 04/10/18 Pending -- -- --
04/02/2018 04/02/18 For Sale $329,000 -- $34 / Sq Ft
Source: Upper Peninsula Association of REALTORS®

Tax History Compared to Growth

Source: Public Records

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
2025 $11,822 $295,500 $0 $0
2024 $115 $302,600 $0 $0
2023 $2,637 $276,200 $0 $0
2022 $16,031 $188,200 $0 $0
2021 $12,278 $247,600 $0 $0
2020 $12,045 $188,200 $0 $0
2019 $11,868 $185,150 $0 $0
2018 $8,776 $147,700 $0 $0
2017 $8,553 $145,300 $0 $0
2016 $8,329 $145,250 $0 $0
2015 -- $145,250 $0 $0
2014 -- $133,350 $0 $0
2012 -- $129,300 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • Fran Sevegney

    Seller's Agent in 2018

    Fran Sevegney

    RE/MAX 1ST REALTY

    (906) 869-7465

    47 in this area

    459 Total Sales

    Fran Sevegney
    Section Image
  • Kristine Goupille

    Buyer's Agent in 2018

    Kristine Goupille

    RE/MAX 1ST REALTY

    (906) 250-7344

    49 in this area

    294 Total Sales

    Kristine Goupille
    Section Image
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Map

Source: Upper Peninsula Association of REALTORS®

MLS Number: 10071877

Upper Peninsula Association of REALTORS®

APN: 52-51-555-010-00

Michigan Marquette County Ishpeming 49849

605 Lakeshore Dr, Ishpeming, MI

Not Listed for Sale

MultiFamily

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