Three-Unit Triplex with
For Sale
$205,000
Pending
1006/1008 Champion Street, Marquette, MI 49855
MULTIFAMILY, 2 Story, Marquette, MI
Property Size1,946 SF
Lot Size0.13 Acres
Days on Market51
Property Features for 1006/1008 Champion Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 1, Basement, Bathroom 1, Bathroom 3, Bedroom 3, Bedroom 2, Bathroom 2
Interior features
Hardwood Floors
Appliances
Range/Oven, Refrigerator
Subdivision
Champion
Elementary school district
Marquette Area School District
Middle school district
Marquette Area School District
High school district
Marquette Area School District
Standard status
Pending
Size
1,946 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Annual Amount
5187
Utilities
Heating system
Forced Air
Water source
Public
Building Details
Year built
1900
Floors in Building
2
Number of units
3
Architectural style
Conventional
Listing Agency:
RE/MAX 1ST REALTY · RE/MAX International
(906) 225-1136
Listed By:
MICHAEL GOLISEK
(906) 236-3750
Added: Sep 9
Changed: Oct 27
Last Checked: Oct 29 at 3:06AM
MLS# 50221212
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.
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Investment Insights
Based on property information with market context.
This three-unit residential property contains 1,946 square feet on a 0.13-acre lot. The two-story main house has two one-bedroom, one-bathroom units and a basement. A third one-bedroom, one-bathroom unit is located at the rear and includes a garage; that unit has been updated. The property was built in 1900 and has hardwood floors, forced-air heat, a range/oven, and a refrigerator.
The property is vacant. Water is billed together for all three units. Gas and electric service are separated between the front and rear, but not between the upper and lower units in the main house. The rear unit has alley access for parking.
The property is vacant. Water is billed together for all three units. Gas and electric service are separated between the front and rear, but not between the upper and lower units in the main house. The rear unit has alley access for parking.
Key Highlights
- Three units, each with one bedroom and one bathroom
- 1,946 square feet on a 0.13‑acre lot
- Two‑story main house with two units and a basement
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,156
Cap Rate
5.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$243,120
$243.1K
Cap Rate 7%
$173,657
$173.7K
Cap Rate 9%
$135,067
$135.1K
Market Conditions
NOI Build-Up for 1,946 SF
Gross rent
$18.0K $9.24/SF
− Vacancy
−$615 −$0.32/SF
EGI
$17.4K $8.92/SF
− OpEx
−$5.2K −$2.68/SF
NOI
$12.2K $6.25/SF
Area
Marquette County, MI
Vacancy
3.42%
Lease Rate
$9.24 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$243,120
Cap Rate 7%
$173,657
Cap Rate 9%
$135,067
Alternative Uses
Best Use
Multifamily LT 5
$173.7K
$152.0K – $202.6K
NOI $12,156 @ 7.0% cap · market cap 5.93%
Second Best
Apartment 5plus
$150.3K
$131.6K – $175.4K
NOI $10,524 @ 7.0% cap · market cap 5.13%
Theoretical Best
Office A
$573.1K
$501.5K – $668.7K
NOI $40,119 @ 7.0% cap · market cap 19.57%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
533
Businesses Nearby
Explore this area
Business Placement
Demographics for 49855, MI
32,929
Population
15,779
Households
2.1
Avg Household Size
38
Median Age
45%
College-Educated
96%
High-School Grad
206.9 sq mi
ZIP Area
159
Density / Sq Mi
$62,321
Median Household Income
$27,408
Median Earnings
$992
Median Rent
$245,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Triplex - The rear residence has a garage and alley access for parking.
Where is this triplex located?
The property is located at 1006/1008 Champion Street Marquette, MI.
What is the asking price?
The asking price for this property is $205,000.
What are key features of this property?
This property features: Three units, each with one bedroom and one bathroom; 1,946 square feet on a 0.13‑acre lot; Two‑story main house with two units and a basement
