Ironwood, MI Multifamily Properties for Sale

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18 properties

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Updated: Nov 5, 2025

Mixed-Use Live-Work Property

122 W Aurora Street, Ironwood, MI 49938

$97,900

2,100 sqft 0.08 AC lot

0.08‑acre lot with 2,100 SF mixed‑use live‑work building built in 1920
Main‑level storefront with large front display windows plus two upper‑level apartments
Street and alley access for both commercial and residential components
Detached garage at the rear plus two parking spaces for off‑street parking
Commercial zoning with public water service

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122 W Aurora Street, Ironwood, MI 49938

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Est. Cap Rate

8.5%
Above avg (5.9%)
Est. NOI

$8K
Annual
Price @ 7% Cap

$119K
Above asking
Property Type

Retail Stores
Built 1900

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Updated: May 31

15-Unit Apartment Building with Commercial Space

101 N Lowell Street, Ironwood, MI 49938

$599,000

13,062 sqft 1.44 AC lot

15 apartments: ten studios, one 1‑bedroom, two 2‑bedrooms, and one 3‑bedroom
Adjacent #107 mixed‑use building with 1,200 SF open commercial space plus separate upper 2‑bedroom apartment
2‑year‑old central hot water boiler and new 800 amp service with separate electrical meters
Full basement laundry with 2 newer washers and 2 newer dryers plus tenant storage closets
Detached 3‑car garage built in 1981 at the back of the gravel parking lot

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Historic Mixed-Use Office Building

216 E Aurora Street, Ironwood, MI 49938

$524,900

7,093 sqft 0.13 AC lot

Renovated office spaces on the main level with a separately accessed second-floor loft and apartment.

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Apartment Building Portfolio with Garages

246 Ashland Court, Ironwood, MI 49938

$1,285,000

18,934 sqft 1.73 AC lot

Apartment portfolio with 21 rental units and 24 garages, including a 15-unit brick building plus three duplexes.

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Renovated Office Building with Loft

216 Aurora St, Ironwood, MI 49938

$524,900

Flexible office layout with separate loft access, additional residential accommodations, and garage and basement storage.

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Quadplex with Private Garages

5216 E Sunset Road, Ironwood, MI 49938

$334,990

2,432 sqft 1.73 AC lot

Four separately deeded residences offer distinct parking, basement, and utility features within one multifamily property.

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Apartment Building with Six Units

1114 N Douglas Boulevard, Ironwood, MI 49938

$399,000

4,960 sqft 0.76 AC lot

Six-unit apartment building with garages and coin-operated laundry facilities plus a single-family rental home.

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8-Unit Split-Level Apartment Building

421 S Suffolk Street, Ironwood, MI 49938

$499,000

7,182 sqft 1.44 AC lot

Eight two-bedroom units with private decks and dedicated garages in a split-level building built in 1970.

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Four-Unit Property with Garages

5216 E Sunset, Ironwood, MI 49938

$334,990

Four separately deeded residences offer individual parking, garage, and basement areas.

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Eight-Unit Apartment Building

421 S Suffolk Street, Ironwood, MI 49938

$499,000

7,160 sqft 1.44 AC lot

Turnkey eight-unit apartment building on public water with patios, on-site garages, and electric baseboard heating.

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Historic Short-Term Rental Property

400 Silver Street, Ironwood, MI 49938

$199,000

2,862 sqft 0.15 AC lot

Commercially zoned property with multiple bedrooms, kitchens, living areas, and an entertaining bar space.

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Updated Duplex with Yard

140 W Pewabic St, Ironwood, MI 49938

Contact for pricing

Duplex offers two units, ample parking, a spacious yard, and recent updates including a new roof.

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Up-Down Duplex with Separate Kitchens

10342 N Lake Road, Ironwood, MI 49938

$210,000

2,040 sqft 0.99 AC lot

Up-down duplex on 0.99 acres with two separate units, each with a kitchen, living area, bedrooms, and bath.

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Brick Apartment Building with Garages

246 Ashland Court, Ironwood, MI 49938

$1,285,000

1.73 AC lot

Portfolio investment featuring 21 rental units and 24 garages, anchored by a 15-unit brick apartment building.

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Historic Office Building with Renovated Loft

216 AURORA ST E, Ironwood, MI 49938

$524,900

0.13 AC lot

Renovated office space with a fully renovated 2nd-level loft and apartment, including separate access and shared hall entry.

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Duplex with Enclosed Front Porches

208 Greenbush Street, Ironwood, MI 49938

$84,900

1,434 sqft 0.14 AC lot

Duplex in Ironwood with forced-air heat, enclosed front porches, and two-bedroom layouts in both units.

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Residential Income Property with Garages

1114 N Douglas Boulevard, Ironwood, MI 49938

$399,000

0.76 AC lot

Seven rental units include a six-unit apartment building and a single-family home, plus four garage units and on-site parking.

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Apartment Building with Hot Tub Rooms

E6242 Snowdrift Street, Ironwood, MI 49938

$197,500

5,600 sqft 0.36 AC lot

Restoration-ready six-unit apartment building with in-unit hot tub rooms, cedar-paneled full baths, and oil-fired zoned hot water heat.

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Based on your search, we've compiled Potential Opportunities for your consideration. Besides 18 Active Listings in Ironwood, MI

Ironwood, MI Multifamily Properties Market Trends and Statistics

Explore 18 multifamily properties for sale in Ironwood, MI, showcased through 18 active listings on our real estate platform. These investment opportunities span a total of 74,859 square feet of properties for sale, with an estimated market value of $7,998,980.

Sale prices for multifamily properties in Ironwood, MI start at $84,900, averaging $470,528, and reaching up to $1,285,000 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

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Top Commercial Asset Segments

Commercial property segments ranked by active listings on the market

Demographics Overview

Population 7,424

Population Growth (5Y) -1.2%

Median Household Income $44,379

College Educated 32.5%

High-Yield Neighborhoods for Investment

Identify Ironwood submarkets with the highest inventory density on the market and evaluate the average listing prices of real estate assets

Neighborhood	Average Price
49938	$469.6K

Taxes & Financing

Tax Rate (average for all types) 5.37%

Property Tax per SF $85.36 per SF

Average Loan-to-Value 65.0%

Listings Trend

New vs delisted commercial listings in Gogebic County

New Delisted

Total CRE Inventory on Market (SF)

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