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  • $330,000

    403 N Main St, Ishpeming, MI 49849

    7beds
    3,142sqft
    Multi Family
    Built in 1886
    -- sqft lot
    $331,000 Zestimate®
    $105/sqft
    $1,499 Estimated rent

    What's special

    Here is an extraordinary opportunity to invest in a 5-plex apartment! Centrally located in an excellent spot in a good neighborhood, this historic multiplex sits atop a hill, a few blocks from downtown Ishpeming. This is an established rental with a proven track record for high occupancy rates. Currently, all units are rented out. Leases are month to month and the tenants are communicative and cooperative. See associated documents for Cubi Casa measurements for each apartment and the basement. This historic home is solid with a well-maintained utility system and good bones. The roof is BRAND NEW, installed in 2023 ($70,000 value)! Shared laundry facilities are located in the basement. There are also storage cages for each unit on the opposite end of the laundry facility. Across the street is the Ishpeming Carnegie Library and the historic Mather Inn! Just a short walk from downtown (literally two blocks away), with access to Jim's Jubilee Foods, various restaurants, bars, shops, and churches. Lake Bancroft & the Ishpeming playgrounds are just another few blocks away. Rents are as follows: Unit 1: $700 rent/mo., tenant pays electric, Unit 2: $700 rent/mo., tenant pays electric, Unit 3: $750 rent/mo., tenants pay electric, Unit 4: $700 rent/mo., tenants pay electric, Unit 5: $600 rent/mo. Seller pays all utilities, EXCEPT for electricity in apartments #1-4. Seller pays ALL utilities for apartment #5. To gauge expenses, utilities are, on average, $700/mo. and add more for the winter months. All bathrooms are full except for apartment 5, which has a shower instead of a bathtub. Fireplaces in apartments 2, 3, 4 and 5 are not in working condition. Apartment 5 includes a space heater. RENTS TO INCREASE DEC. 1, 2024: APT. 1: $750, APT. 2: $775, APT. 3: $825, APT. 4: $775, APT. 5: $650.

    Zillow last checked: 7 hours ago

    Listing updated: July 03, 2025 at 09:26am

    Listed by:

    DON SCHINELLA 906-362-9273,

    SELECT REALTY 906-228-2772

    Bought with:

    SCOTT MOSIER

    KEY REALTY DELTA COUNTY LLC

    Source: Upper Peninsula AOR,MLS#: 50150145MLS LogoOriginating MLS: Upper Peninsula Assoc of Realtors

    Facts & features

    Interior

    Bedrooms & bathrooms
    • Bedrooms: 7
    • Bathrooms: 5
    • Full bathrooms: 5
    Bathroom
    • Features: Other
    Heating
    • Hot Water, Other
    Cooling
    • None
    Appliances
    • Included: Dryer, Range/Oven, Refrigerator, Washer, Gas Water Heater
    • Laundry: Laundry Room, Common Area
    Features
    • High Ceilings, Walk-In Closet(s)
    • Basement: Full,Stone
    • Number of fireplaces: 1
    • Fireplace features: Living Room
    Interior area
    • Total structure area: 3,142
    • Total interior livable area: 3,142 sqft

    Property

    Parking
    • Total spaces: 3
    • Parking features: 3 or More Spaces, On Street, Driveway, Unassigned
    • Has uncovered spaces: Yes
    Accessibility
    • Accessibility features: Covered Entrance
    Features
    • Levels: More than 2 Stories
    • Patio & porch: Porch
    • Exterior features: Balcony, Sidewalks
    • Waterfront features: None
    Lot
    • Size: 6,098 sqft
    • Dimensions: 72 x 82
    • Features: Platted, Sidewalks, Corner Lot, Main Street, Walk to School
    Details
    • Parcel number: 525110700100
    • Zoning: GR - General Residential District
    • Zoning description: Residential
    • Special conditions: Standard

    Construction

    Type & style
    • Home type: MultiFamily
    • Architectural style: Conventional Frame
    • Property subtype: Multi Family
    Materials
    • Vinyl Siding
    • Foundation: Basement
    Condition
    • Year built: 1886

    Utilities & green energy

    • Electric: 100 Amp Service
    • Gas: Natural Gas
    • Sewer: Public Sanitary
    • Water: Public
    • Utilities for property: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected

    Community & neighborhood

    Community
    • Community features: Sidewalks
    Location
    • Region: Ishpeming
    • Subdivision: N/A

    HOA & financial

    Other financial information
    • Total actual rent: 3450

    Other

    Other facts
    • Listing terms: Cash,Conventional,Conventional Blend
    • Ownership: Private
    • Road surface type: Paved
    Services availability
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