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Chippewa Apartments 42280 Wilson Memorial Dr 12 Unit Apartment Building $881,747 CAD ($73,479 CAD/Unit) Chassell, MI 49916
INVESTMENT HIGHLIGHTS
- Improvements include flooring, insulation, drywall, energy-efficient windows and doors, toilets, bathroom fixtures, blinds, soffits, fascia, and roof.
- 6 units equipped with wall A/C; sleeves available in remaining units.
- Views of Pike Bay and Portage Canal, adjacent to park and walking trail.
- Off-street parking with 11–20 spaces on-site.
EXECUTIVE SUMMARY
LOCATION, LOCATION, LOCATION in the heart of the quaint village of Chassell and 7.6 miles from Houghton. The Chippewa Apartment building consists of 10 apartments, a coin operated laundry room with office, a storage building, backs to the park, walking trail, a view of Pike Bay and Portage Canal. The Chippewa was converted from a motel to apartments in 2010 & 2011. Two units are studio type, 5 units have 1 bedroom and 3 apartments consists of 2 bedrooms. One unit is handicapped accessible and 6 of the units have wall A/C units while the others have a sleeve in which to install a A/C unit. Most units have a view of the Bay, walking trail and park. The initial renovation includes flooring, energy star appliances (gas stoves), insulation, drywall, individual shut-off valves, room sprinkler system, windows, doors. toilets, bathroom fixtures, blinds, roofing, soffits, facia, energy efficient computerized boiler/hot water system. There is access to the crawl space. The apartments started renting in 2011. Off street parking is plentiful. POTENTIAL PURCHASERS MUST BE PREQUALIFIED FOR A MORTGAGE OR SHOW PROOF OF FUNDS IF PAYING CASH BEFORE A SHOWING CAN TAKE PLACE. FINANCIAL INFORMATION CAN BE PROVIDED UPON RECEIPT OF A SIGNED CONFIDENTIALITY STATEMENT BY POTENTIAL PURCHASER.
PROPERTY FACTS
| Price | $881,747 CAD | Building Class | C |
| Price Per Unit | $73,479 CAD | Lot Size | 1.03 AC |
| Sale Type | Investment | Building Size | 8,184 SF |
| No. Units | 12 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1950 |
| Property Subtype | Apartment | Parking Ratio | 3.54/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R1 - Residential | ||
| Price | $881,747 CAD |
| Price Per Unit | $73,479 CAD |
| Sale Type | Investment |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.03 AC |
| Building Size | 8,184 SF |
| No. Stories | 1 |
| Year Built | 1950 |
| Parking Ratio | 3.54/1,000 SF |
| Zoning | R1 - Residential |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 12 | - | - |
1 1
PROPERTY TAXES
| Parcel Number | 003-204-004-00 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $303,508 CAD |
PROPERTY TAXES
Parcel Number
003-204-004-00
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$303,508 CAD
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Chippewa Apartments | 42280 Wilson Memorial Dr
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