Four-Unit Apartment
For Sale
$209,000
10740 Cannonball Court, Bessemer, MI 49911
Unit mix includes one- and two-bedroom layouts, with shared laundry in a walk-out basement.
Property Size2,592 SF
Price / SF$80.63
Days on Market220
Property Features for 10740 Cannonball Court
General Information
Standard status
Active
Size
2,592 SF
Property subtype
Residential Income / Multi Family
Zoning
PAUD
Units
Unit Mix
3 x 1BR, 1 x 2BR
Multifamily Units
4
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$4,092
Amenities
shared laundry area
Central Air
Forced Air, Propane
Partially Finished, Walk-Out Access
Dryer, Microwave, Refrigerator, Washer, Range, Oven, Electric Water Heater
Yes
No
4
5
Window Treatments
Common Area
Eat-in Kitchen
Building Details
Year Built
1977
Buildings
1
Listing Agency:
FIRST WEBER, INC
Listed By:
TAMMY KAURANEN · License #6506047069
(906) 285-2618
Source:
Compass
Added: Mar 11
Changed: Oct 13
Last Checked: Oct 15 at 1:41AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of FIRST WEBER, INC
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Investment Insights
Based on property information with market context.
This 2,592-square-foot quadplex contains four rental units: three one-bedroom residences and one larger two-bedroom residence. The property includes a full basement with shared laundry space and a separate exterior entrance. Central air, forced-air propane heat, electric water heating, and kitchen appliances are present. Two units feature updated flooring, lighting, and appliances, while the bathrooms have also been updated. The building was constructed in 1977.
Set at 10740 Cannonball Court in Bessemer, Michigan, the property sits at the end of the road in a wooded setting. A creek can be heard from the property during most seasons, and the location is close to town and down the road from the ski hills. The units have been used as long-term rentals, and the property is on PAUD.
Set at 10740 Cannonball Court in Bessemer, Michigan, the property sits at the end of the road in a wooded setting. A creek can be heard from the property during most seasons, and the location is close to town and down the road from the ski hills. The units have been used as long-term rentals, and the property is on PAUD.
Key Highlights
- Four units: three one‑bedroom units and one two‑bedroom unit
- 2,592 square feet with a full basement and walk‑out access
- Shared laundry area includes a separate exterior entrance
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,320
Cap Rate
4.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$206,400
$206.4K
Cap Rate 7%
$147,429
$147.4K
Cap Rate 9%
$114,667
$114.7K
Market Conditions
NOI Build-Up for 2,592 SF
Gross rent
$23.3K $9.00/SF
− Vacancy
−$8.6K −$3.31/SF
EGI
$14.7K $5.69/SF
− OpEx
−$4.4K −$1.71/SF
NOI
$10.3K $3.98/SF
Area
Gogebic County, MI
Vacancy
36.80%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$206,400
Cap Rate 7%
$147,429
Cap Rate 9%
$114,667
Alternative Uses
Best Use
Multifamily LT 5
$147.4K
$129.0K – $172.0K
NOI $10,320 @ 7.0% cap · market cap 4.94%
Second Best
Apartment 5plus
$131.7K
$115.3K – $153.7K
NOI $9,222 @ 7.0% cap · market cap 4.41%
Theoretical Best
Office A
$550.5K
$481.7K – $642.2K
NOI $38,534 @ 7.0% cap · market cap 18.44%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
4
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1
Businesses Nearby
Explore this area
Business Placement
Demographics for 49911, MI
2,626
Population
1,879
Households
1.4
Avg Household Size
49
Median Age
19%
College-Educated
97%
High-School Grad
45.5 sq mi
ZIP Area
58
Density / Sq Mi
$51,326
Median Household Income
$28,778
Median Earnings
$529
Median Rent
$109,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Quadplex - Unit mix includes one- and two-bedroom layouts, with shared laundry in a walk-out basement.
Where is this quadplex located?
The property is located at 10740 Cannonball Court Bessemer, MI.
What is the asking price?
The asking price for this property is $209,000.
What are key features of this property?
This property features: Four units: three one‑bedroom units and one two‑bedroom unit; 2,592 square feet with a full basement and walk‑out access; Shared laundry area includes a separate exterior entrance
