About This Home
This 4-bedroom, 3-bathroom residential multi family at 1296 Main Street in Melvin, MI is listed for $244,900 ($130 per sqft). Built in 1900, the home offers 1,885 sqft of living space on a 0.55 acres lot.
Key Features
- Built in 1900
- 0.55 acre lot
- 2 stories
Property Details
If owning a post office building with rentals is your dream, here it is!!! This unique property is in the heart of Melvin. Own your own post office building with newly negotiated lease. The lower front unit, which currently is leased to the US Post office for $849.75 last Oct 1 with a five year lease.
USPS has been a tenant since 1930....94 years of continuous service! In addition, There are two residential apartments, an upper leased at $625 and lower unit at $700. Both are leased below current market rates due to long term tenants. Apartments are on a month to month contract.
Both apartments are 2 bedroom and in well maintained condition. There is a common area that has washer-dryer. Attached garage stores the lawn implements that go with sale. There is a nice storage shed in the spacious back yard that overlooks farm fields.
The current owner has put in over 40k in improvements since purchase. Just in the last three years including: New roof for back apartment and Garage, Upgraded/Modernized Main Electric Panel, Installed new Well pump and piping, Installed new double windows in lower apartment unit, New Refrigerator in upstairs apartment, Tuck Pointing - Re-Grouting b
rickwork of Post Office exterior, Installed New 50 gal Water Heater, New toilet & new commercial grade flooring for Post Office, Installed new 30 foot Commercial Flag Pole, Installed new Modern "Closed System" Gas Boiler unit. See photo gallery for list of improvements. This building has been well maintained and is one of the original buildings in town. It is located across from the Melvin "hogtown" Tavern. Great opportunity for the investor in a small town community.
Monthly Cost Estimate
$1,310/mo
20% down · 6.5% · 30 years
Estimates only. Actual payments may vary.
Location
1296 Main Street
Melvin, MI 48454
Property Details
Heating
Appliances
Questions & Answers
This 4-bedroom, 3-bathroom residential multi family at 1296 Main Street is listed at $244,900 ($130/sqft). The estimated monthly payment is $1,309 based on 20% down, a 30-year loan at 6.5% interest, estimated insurance.
Key features include: Built in 1900, 0.55 acre lot, 2 stories.
This property is listed by Robert Kean and can be reached at 8106505850.