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823 Leelanau Avenue - Location, Location! Great opportunity to own a 3-unit property in historic neighborhood in downtown Frankfort, just a few minutes’ walk to the beach, and just 1000 feet from the boat launch, marina, and bike path.   The main house built in the late 1800's by a Norwegian ship captain, has undergone an extensive restoration over the last 18 months.  Main floor apartment is all new after being stripped to the studs.  Upstairs apartment underwent a refresh after already being renovated by the previous owner.  A great addition to the property is the large 3-car detached garage with workshop and third brand new apartment above.   Enjoy relaxing evenings on the covered front porch , barbecuing on your private rear deck.   This Property has an Excellent Rental Income. First year (2017) the property generated $20,000 in income using only two of the three units, both rented less than half the year. One unit as a Vacation Rental the other a Long Term Rental. Turn this entire property into a Vacation Rental, and generate as much as $84,000.00 annually combining Short Term Summer Rentals with winter renters Or make this property your family compound with multiple guests quarters.   This is a must see. A perfect example of renovations done right.

Listing information

  • MLS® ID: 1848193
  • Year Built: 1881
  • Parking Type Description: Detached 0 cars
  • Total Square Footage: 2,608 ($172.52 per sq. foot)
  • County: Benzie
  • Property ID: 104109382
  • Status: Pending - Request Back Up Offers
  • New Construction: No
  • Lot Area: 0.15 Acres
  • School District: Frankfort-Elberta Area Schools
  • Style: Multi-Family
  • Stories: 0
  • Foreclosure: No
  • Lot Size: 50X150

Features

(A) Din Rm Yes
(A) Kit Yes
(A) Liv Rm Yes
(B) Din Rm No
(B) Kit Yes
(B) Liv Rm Yes
(C) Din Rm Yes
(C) Kit Yes
(C) Liv Rm Yes
ADDITIONAL BUILDINGS Workshop
APPLIANCES/EQUIPMENT Water Softener (Owned), Water Filtration System, Refrigerator, Oven/Range, Microwave, Exhaust Fan, Disposal, Dishwasher, Ceiling Fan, Blinds
CONSTRUCTION Frame
Deeded Waterfront No
DEVELOPMENT AMENITIES None
DOCUMENTS ON FILE Sellers Disclosure, LBP Disclosure
ECO Features No
ENERGY EFFICIENT Low-e Windows, Energy Star Appliances, Chemical Free Insulation
Exterior Features Sidewalk, Porch, Multi-Level Decking, Landscaped, Fenced Yard, Covered Porch
EXTERIOR FINISH Vinyl Siding
FIREPLACE AND STOVES None
FOUNDATION Poured Concrete, Full, Daylight Windows
HEATING/COOLING SOURCES Natural Gas
HEATING/COOLING TYPE Hot Water, Ductless A/C
INCLUDED IN LEASE Trash Removal, Snow Removal, Exterior Maintenance
Interior Features Storage Space, Pantry, Mud Room, Laundry Hook-up, Hardwood Floors, Great Room, Granite Kitchen Tops, Granite Bath Tops, Foyer Entrance, Formal Dining Room, Drywall
Mineral Rights Unknown
Other Year Updated - 2011, Year Remodeled - 2017, Total # Units - 3, Development Name - Town & Harbor Frankfort, (C) Bdrm - 1, (C) Bath - 1, (C) Apx SQFT - 816, (B) Bdrm - 1, (B) Bath - 1, (B) Apx SQFT - 621, (A) Bdrm - 2, (A) Bath - 2, (A) Apx SQFT - 1171, % of Remodel - 92
Possession Subject to Tenants Right
PRIMARY GARAGE Garage for Each Unit, Detached
Property Type Triplex
RENEWABLE Programmable Thermostat, Energy Star-rated Furnace, Energy Star-rated A/C
ROAD Public Maintained, Blacktop
Roof Asphalt
STYLE Victorian, 2 Story
TV SERVICE/INTERNET AVAIL WiFi, Cable TV
UNIVS DESIGN/BARRIER FREE Low Threshold Shower, Covered Entrance
Utilities / Sewer Municipal
Water Municipal
WATER CONSERVATION Drought Resistant Landscp
Water Features None
ZONING/USE/RESTRICTIONS Multi-Family
Listed by Kurt Hubschneider of Coldwell Banker Schmidt REALTORS 231-929-2300