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Property profile

E6280 Snowdrift St Bessemer, MI 49938

OFF-MARKET
Apartment buildings
1,920 SF 0.27 ac lot Built 1973
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Property summary

AI-generated overview

This attractive, fully furnished apartment building in Bessemer, Michigan presents a compelling investment opportunity. Located near Big Powderhorn Mountain Resort, the property features five units: four one-bedroom, one-bathroom apartments and a third-floor unit adaptable as a one-bedroom plus den or common area. All units have separate entrances. Units 1-4 boast open-concept living rooms with wood-burning fireplaces, kitchens with appliances, bedrooms, and full baths, plus patio doors leading to a deck. Interlocking interior doors connect these units, and Unit 1 includes a stackable washer/dryer. The third-floor apartment offers an open concept design with kitchen, dining, living, bedroom, and den, showcasing mountain views. A detached building houses a hot tub and changing area. Units 1-4 utilize natural gas heat and have individual electric meters. The property includes a private well, newer windows, charming wood beams and ceilings, and a backyard setting with a deck and firepit. Ample parking is available. Recent improvements include a new roof and a crawlspace dehumidifier system. Each unit features a new smart TV, updated light fixtures, and refreshed decor and furnishings. The 1,920 square foot building sits on a 0.27-acre lot and was built in 1973. This three-story building offers diverse potential uses, including long-term or short-term rentals, conversion to condominiums, or personal use with rental income from other units. The asking price is $248,900.

Property profile

Verified
Property type Apartment buildings
Year built 1973
Total area 1,920 SF
Lot 0.27 ac (11,761 SF)

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

E6280 Snowdrift St Bessemer, MI 49938
Bessemer metro
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Value estimations

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Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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