4-Unit Quadplex with Shared
10740 N Cannonball Court, Bessemer, MI 49911
For Sale
$209,000
MULTIFAMILY, 2 Story, Bessemer, MI
Property Size2,592 SF
Lot Size0.96 Acres
Price / SF$80.63
Days on Market190
Property Features for 10740 N Cannonball Court
General Information
Property type
Property subtype
Zoning description
Bedrooms
Bathrooms
Full bathrooms
Rooms
Interior features
Appliances
Subdivision
Lot features
Elementary school district
Middle school district
High school district
Standard status
Size
Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Annual Amount
Utilities
Heating system
Cooling system
Water source
Amenities
shared laundry
Building Details
Year built
Floors in Building
Number of units
Architectural style
Buildings
Listing Agency:
FIRST WEBER, INC
(906) 667-6366
Listed By:
TAMMY KAURANEN · License MI #6506047069
(906) 285-2618
Added: May 4
Changed: Nov 5
Last Checked: Nov 9 at 10:06PM
MLS# 50206343
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 2,592-square-foot quadplex contains four apartments: three with one bedroom and one with two. The full basement includes a shared laundry area and a separate exterior entrance. Two apartments have updated lighting, flooring, and appliances; the bathrooms are newer. The property was built in 1977 and has forced-air heat and central air conditioning.
Set on 0.96 acres in Bessemer, the building is at the end of a road, with a creek audible from the property during most seasons. It is near town and a short distance from ski hills.
Set on 0.96 acres in Bessemer, the building is at the end of a road, with a creek audible from the property during most seasons. It is near town and a short distance from ski hills.
Key Highlights
- Four apartments: three one‑bedroom units and one two‑bedroom unit
- 2,592 square feet on 0.96 acres
- Full basement with shared laundry area and 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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Property Analytics
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See the owner, sales and loan history
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Lease Details
4
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
4
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 - The unit mix includes three one-bedroom apartments and a larger two-bedroom apartment.
Where is this quadplex located?
The property is located at 10740 N 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 apartments: three one‑bedroom units and one two‑bedroom unit; 2,592 square feet on 0.96 acres; Full basement with shared laundry area and exterior entrance
