321 Dresser Street, Cheboygan, MI 49721

Cheboygan
Local realty services provided by:ERA Greater North Properties
321 Dresser Street,Cheboygan, MI 49721
$239,900
  • - Beds
  • - Baths
  • - sq. ft.
  • Multi-family
  • Active
Listed by: steven koleno
Office: beycome brokerage realty llc.
MLS#:201842167
Source:MI_WWBR

Price summary

  • Price:$239,900

About this home

Excellent opportunity to own an updated triplex just two blocks from downtown Cheboygan. Two units are currently leased with a combined rent of $1,955/month (Apt. 1: $980; Apt. 3: $975), while the renovated 1BR/1BA Apt. 2 is vacant with projected market rent of $925/month. At full occupancy, projected gross rent is $2,880/month or $34,560/year. Based on T12 operating expenses of $10,332, pro forma NOI is approximately $24,228, representing a 10.1% pro forma cap rate at the $239,900 list price. The vacant unit also creates an excellent opportunity for an owner-occupant looking to ''house hack'' and use rental income from the other two apartments to help offset housing costs. The property consists of two 1-bedroom/1-bath units and one 2-bedro om/1-bath unit. Apartment 2 was extensively renovated in 2025 and features all-new LVP flooring, kitchen cabinets, appliances, bathroom, fixtures, paint, and windows, along with a laundry hookup. Apartments 1 and 3 have also been updated with...

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Home facts

  • Subdivision & Development:Pattersons Add
  • Listing ID #:201842167
  • Added:1 day(s) ago
  • Updated:August 14, 2026 at 12:48 AM

Heating and cooling

  • Heating:Forced Air, Heating, Natural Gas

Finances and disclosures

  • Price:$239,900
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