Marquette 5-Plex Income
421 N Front Street Marquette, MI 49855
421 N Front Street, Marquette, MI, 49855
$525,000
For Sale
$525,000
MULTI_FAMILY - Conventional - Marquette, MI
Property Size4,258 SF
Lot Size0.17 Acres
Price / SF$123.30
Days on Market445
Property Features for 421 N Front Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 6
- Bathrooms
- 5
- Rooms
- Bathroom 2, Bedroom 1, Bathroom 4, Bedroom 5, Bedroom 6, Bedroom 4, Basement, Bedroom 3, Bathroom 3, Bathroom 1, Bathroom 5, Bedroom 2, Laundry Room
- Parking features
- Driveway
- Patio and Porch features
- Deck, Porch
- Interior features
- Hardwood Floors
- Exterior features
- Deck, Porch, Sidewalks, Street Lights
- Appliances
- Dryer, Range/Oven, Refrigerator, Washer
- Standard status
- Active
- Size
- 4,258 SF
- Lot size
- 0.17 Acres
Utilities
- Heating system
- Oil
- Cooling system
- Ceiling Fan(s)
- Water source
- Public
Building Details
- Year built
- 1912
- Number of units
- 5
- Architectural style
- Conventional
Listing Agency
SELECT REALTY
(906) 228-2772
2363 US41 W, Marquette, MI
Listed by
SEAN LEAHY · License #UPAR
(906) 362-1158
Added: Apr 30, 2025 Checked: Jul 18 at 3:06 am
MLS# 50173167
Listing URL
Copyright © 2026 Upper Peninsula Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This five-unit apartment building in Marquette, Michigan, presents an income opportunity. The property features a history of occupancy and includes five off-street parking spots. Its location is near downtown and the Third Street corridor. Units 1 through 4 are one-bedroom apartments, while Unit 5 is a two-bedroom apartment. The basement area offers separate locked storage spaces and a laundry area. The building has a total area of 4,258 square feet and is situated on a 0.17-acre lot.
Key Highlights
- 5‑plex in Marquette with 4 one‑bedroom units (Units 1–4) and 1 two‑bedroom unit (Unit 5)
- Basement includes separate locked storage spaces and a dedicated laundry area
- Hardwood floors throughout
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $43.4k | $10.20 |
| − Vacancy | −$1.6k | −$0.37 |
| EGI | $41.9k | $9.83 |
| − OpEx | −$18.8k | −$4.42 |
| NOI | $23.0k | $5.41 |
4,258 SF · lease $10.20/SF/yr · vacancy 3.60% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$329.0K
$287.8K – $383.8K
NOI $23,027 @ 7.0% cap · market cap 4.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.25M
$1.10M – $1.46M
NOI $87,783 @ 7.0% cap · market cap 16.72%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Five-unit apartment building near downtown Marquette.
Where is this apartment building located?
The property is located at 421 N Front Street Marquette, MI.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 5‑plex in Marquette with 4 one‑bedroom units (Units 1–4) and 1 two‑bedroom unit (Unit 5); Basement includes separate locked storage spaces and a dedicated laundry area; Hardwood floors throughout
