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118 E State St - Bosse Property 3 Unit Apartment Building Offered at $395,000 at a 9.63% Cap Rate Fife Lake, MI 49633
Investment Highlights
- Fantastic summer and winter views of Fife Lake
- Easy boat launch
- Within appx 50' of public access
Executive Summary
Fantastic Opportunity for the short-term rental/ Air BNB investor. The property is perched on a small bluff above Fife Lake, an all-sports lake, and within appx 50 feet of public access. It consists of 3 units, each one is 2 beds 1 bath. Under current zoning all 3 units can be utilized as STR. The property needs some work- but if you have vision this is the property for you. You can easily keep 2 units rented on current mo-to-mo leases and rehab the 3rd one. Then bring it into service either as a STR or annual rental and then go to work on the other 2 units.
Financial Summary (Pro Forma - 2026) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Amenities
Unit Amenities
- Balcony
- Dishwasher
- Fireplace
- Ceiling Fans
- Eat-in Kitchen
- Range
- Island Kitchen
- Porch
Site Amenities
- Zen Garden
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 3 | - | - |
Somewhat walkable
20/100
Exceptionally drivable
100/100
Limited public transit
30/100
Somewhat bikeable
30/100
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Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
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118 E State St - Bosse Property
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