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1296 Main, Melvin, MI 48454

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For Sale

$265,000

4 beds • 2 baths • 1 half baths • 1,885 sqft

Estimated Payment

$      /mo. †

APR for 30 years

Change Loan Terms

  • Multi-Family (2-4 Units)
    Property type

  • $140.58
    Price per square foot

  • Over 50 Years Old
    Age

Explore this Property

This unique property is in the heart of Melvin. Own your own post office building with newly negotiated lease. The lower front unit, which currently is leased to the US Post office for $581, will increase to $849.75 on Oct 1 with a five year lease. USPS has been a tenant since 1930....94 years of continuous service! In addition, There are two residential apartments, an upper leased at $625 and lower unit at $700. Both are leased below current market rates due to long term tenants. Apartments are on a month to month contract. Both apartments are 2 bedroom and in well maintained condition. There is a common area that has washer-dryer. Attached garage stores the lawn implements that go with sale. There is a nice storage shed in the spacious back yard that overlooks farm fields. The current owner has put in over 40k in improvements since purchase. Just in the last three years including: New roof for back apartment and Garage, Upgraded/Modernized Main Electric Panel, Installed new Well pump and piping, Installed new double windows in lower apartment unit, New Refrigerator in upstairs apartment, Tuck Pointing - Re-Grouting brickwork of Post Office exterior, Installed New 50 gal Water Heater, New toilet & new commercial grade flooring for Post Office, Installed new 30 foot Commercial Flag Pole, Installed new Modern "Closed System" Gas Boiler unit. See photo gallery for list of improvements. This building has been well maintained and is one of the original buildings in town. It is located across from the Melvin "hogtown" Tavern. Great opportunity for the investor in a small town community.
MLS# 50149159

Courtesy Of Coldwell Banker Professionals

(586) 727-2741

Property Features

  • Age
    Over 50 Years Old
  • Amenities
    Dock
  • Appliances
    Dryer, Range, Refrigerator, Water - Softener
  • Architecture Style
    Other
  • Exterior Type
    Brick, Vinyl Siding
  • Heating System
    Baseboard
  • Lot Size
    0.55 Acres

Map and Directions

Directions to 1296 Main, Melvin, MI 48454

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† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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