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216-218 E Franklin, Hancock, MI 49930

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For Sale

$285,000

5 beds • 4 baths • 3,200 sqft

Estimated Payment

$      /mo. †

APR for 30 years

Change Loan Terms

  • Apartment
    Property type

  • $89.06
    Price per square foot

  • Over 50 Years Old
    Age

  • Basement
    Rooms

Explore this Property

With the lack of available homes for sale, this 4-unit, brick apartment building, located just one block from downtown Hancock, is a perfect solution. Configure these units to your liking. Keep all 4 as income generators or live in 1 and rent the other 3. Or you could live in ½ of the building, have 2 floors to yourself, and rent the 2 apartments on the other side. You may claim the Homestead Tax Exemption for the percentage used as your primary residence. Well-maintained. Many newer windows. Some hard wood floors. Each apartment has 1 or2 bedrooms and either a ¾ bath with a shower or a full bath. Nice kitchens. Basement is accessed from a back door. The rental amounts in place are not at current market rates. New owner may increase the rents as they see fit once leases expire. Current owner pays for heat and water and for electricity in the common areas. Parking is located in the alley to the left of the building. Most tenants use the City of Hancock public parking lot located just a few steps east of the apartment building. Summer months are free to park. Winter parking pass costs $120. (The lot to the right of the building is not included). This location is convenient to downtown, shopping, and restaurants. 10-minute drive to Michigan Tech. Showings for qualified buyers with pre-approval letters or proof of funds only. Seller reserves the right to leave any contents in the building. Back porch may need work. This information has been secured from sources we believe to be reliable, but we make no representation or warranties, expressed or implied, as to the accuracy of the information. References to square footage, lot size/dimensions, and age are approximate. Buyer must verify the information and bears all risk for inaccuracies. Taxes will change with the sale.
MLS# 50149262

Courtesy Of Douglass Real Estate, Inc DBA RE/MAX Douglass Real Estate
320 Shelden Ave., Houghton, MI 49931
(906) 482-1000

Property Features

  • Age
    Over 50 Years Old
  • Amenities
    Dock, Cable Ready
  • Appliances
    Microwave, Range, Refrigerator
  • Architecture Style
    Other
  • Exterior Type
    Brick
  • Heating System
    Hot Water, Radiator
  • Lot Size
    0.12 Acres
  • Rooms
    Basement

Map and Directions

Directions to 216-218 E Franklin, Hancock, MI 49930

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Copyright © 2024 Upper Peninsula Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

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This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person's eligibility to attend a school or to use or benefit from other city, town or local services.

† 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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