114 Devonshire DrPrudenville, MI 48651

Property Details for 114 Devonshire Dr

Lot size

1.09 AC

Property type

Commercial real estate

APN

003-321-364-1000

APU

33213641000

Description

Exceptional investment opportunity in Prudenville, Michigan, presents a 35-unit multifamily portfolio boasting a strong 10.30% capitalization rate and a substantial net operating income (NOI) of $205,045. This portfolio comprises an apartment building and a single-family rental portfolio, encompassing three parcels of land (APN: 003-016-007-0080, 003-321-364-1000, 003-321-707-0000) located near Houghton Lake at 114 Devonshire Dr, 48651. Currently, 34 of the 35 units are leased, generating over $21,000 in monthly rental income. The property benefits from established management, ensuring consistent cash flow. This turnkey investment is further enhanced by the availability of a fully amortized land contract with a flexible down payment of 20-25%, making it an attractive option for investors seeking immediate returns and long-term growth. The property's location near Houghton Lake offers tenants access to recreational amenities. This portfolio represents a rare opportunity to acquire a well-managed, high-performing multifamily asset with significant upside potential. Serious inquiries only.

• Alternative Use

  Use

  Valuation

  Residential

  $9,925,973

  Hospitality

  $9,092,138

  Educational

  $7,564,552

  Medical

  $7,824,708

  Retail

  $11,767,081

Location Insight

City

Prudenville

County

Roscommon

State

Michigan

Latitude

44.2998

Longitude

-84.6925

Property Tax & Assessments

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