Mid-Mitten Realty
216-218 E Franklin Street Active Save Request In-Person Tour Request Virtual Tour
Hancock,MI 49930
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 3,200 sqft
Price per Sqft $89
MLS Listing ID 50149263
Style 2 Story
Bedrooms 5
Full Baths 4
Year Built 1900
Annual Tax Amount $2,207
Tax Year 2023
Lot Size 5,227 Sqft
Acres 0.12
Lot Dimensions 50 x 115 x 50 x 110
Property Description
Investment opportunity! 4-unit, brick apartment building located just one block from downtown Hancock. Well-maintained. Many newer windows. Some hard wood floors. Configure these units to your liking. Keep all 4 as income generators or live in 1 and rent the other 3. Or you could live in ½ of the building, have 2 floors to yourself, and rent the 2 apartments on the other side. You may claim the Homestead Tax Exemption for the percentage used as your primary residence. Each apartment has 1 or 2bedrooms and either a ¾ bath with a shower or a full bath. Nice kitchens. Basement is accessed from a back door. The rental amounts in place are not at current market rates. New owner may increase the rents as they see fit once leases expire. Current owner pays for heat and water and for electricity in the common areas. Parking is located in the alley to the left of the house. Most tenants use the City of Hancock public parking lot located just a few steps east of the apartment building. Summer months are free to park. Winter parking pass costs $120. (The lot to the right of the building is not included). This location is convenient to downtown, shopping, and restaurants. 10-minute drive to Michigan Tech. Showings for qualified buyers with pre-approval letters or proof of funds only. Seller reserves the right to leave any contents in the building. Back porch may need work. This information has been secured from sources we believe to be reliable, but we make no representation or warranties, expressed or implied, as to the accuracy of the information. References to square footage, lot size/dimensions, and age are approximate. Buyer must verify the information and bears all risk for inaccuracies. Taxes will change with the sale.
Location
State MI
County Houghton
Area Hancock (31013)
Zoning Commercial
Rooms
Basement Full,Outside Entrance,Stone
Interior
Heating Hot Water,Radiator
Cooling None
Fireplace No
Appliance Microwave,Range/Oven,Refrigerator
Exterior
Exterior Feature Brick
Waterfront No
Building
Story 2 Story
Foundation Basement
Water Public Water
Structure Type Brick
Schools
School District Hancock Public Schools
Others
Ownership Private
SqFt Source Measured
Energy Description Natural Gas
Financing Cash,Conventional