$399,900
$399,900
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7976 Central Avenue Coloma, MI 49038
1.31 Acres Lot
Key Details
Sold Price $399,900
Property Type Multi-Family
Sub Type 5+ Units
Listing Status Sold
Purchase Type For Sale
Municipality Coloma Twp
MLS Listing ID 23022740
Sold Date 09/11/23
Originating Board Michigan Regional Information Center (MichRIC)
Year Built 1920
Annual Tax Amount $4,839
Tax Year 2022
Lot Size 1.310 Acres
Acres 1.31
Lot Dimensions irr
Property Description
Excellent investment opportunity, endless possibilities & deeded Paw Paw Lake access just steps away! Short term rentals (VRBO) are allowed, no permit needed but inspection is required every 3 years. Great beach town! Previously a hotel, this property currently rents as 5 units, all month to month. The main house has 2 rented units with an additional 5 bed/1bath (all on the 2nd floor) unutilized. Imagine how much more income potential there is! It could also be converted back to a single family home and you would still have 3 extra cottages to generate revenue. The 3 cottages can be parceled off with the addition of a well. There is also a buildable wooded parcel of land adjacent to the main house that could be sold. Close to restaurants, wineries and only 90 minutes to Chicago!
Location
State MI
County Berrien
Area Southwestern Michigan - S
Direction Paw Paw Lake Rd to Lakewood St, rt on Blum Ave, lt on Central Ave
Body of Water Paw Paw Lake
Rooms
Basement Michigan Basement
Interior
Heating Wall Furnace, Radiant, Baseboard, Natural Gas
Fireplaces Number 4
Exterior
Community Features Lake
Waterfront No
View Y/N No
Roof Type Composition, Other
Total Parking Spaces 10
Building
Lot Description Corner Lot
Sewer Public Sewer
Structure Type Aluminum Siding, Vinyl Siding
New Construction No
Schools
School District Coloma
Others
Tax ID 11-08-4600-0167-06-0
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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