8306 Us 131 Mancelona, MI 49659

Property Details for 8306 Us 131

Property type

Investment properties

Description

This exceptional investment opportunity in Mancelona, Michigan, is situated at the highly visible corner of US-131 and M-66, offering unparalleled access and visibility. The property currently generates a strong monthly gross income of $18,000 from its 25 rental units, comprised of a diverse mix of apartment sizes to cater to a wide range of tenants. These units include three one-bedroom apartments, one two-bedroom apartment, one three-bedroom modular home, and several efficiency units, some with kitchenettes. Recent upgrades include the installation of four brand-new hot water heaters, ensuring tenant comfort and minimizing maintenance concerns. Further enhancing the property's appeal are on-site coin-operated laundry facilities, providing an additional revenue stream. The property now benefits from city water and sewer connections, eliminating potential infrastructure challenges. New gas lines were installed in January 2025. The single-story building presents a significant opportunity for expansion, with the potential to add two more rental units, increasing the property's income potential even further. This turnkey operation offers a compelling investment opportunity for those seeking a high-yield, low-maintenance rental property in a prime location. The property is priced at $925,000.

Location Insight

City

Mancelona

County

Antrim

State

Michigan

Longitude

-85.1309

Latitude

44.833