Mixed-Use Land for Sale in Ironwood, Michigan

Premier Multi-Family Investment Opportunity - 21 Rental Units & 24 Garages on One Street Rarely does an investment opportunity of this scale and stability become available. This impressive portfolio includes 21 rental units and 24 garages, all conveniently located along the same street, creating exceptional management efficiency and strong long-term rental appeal. The property consists of a beautiful 15-unit brick apartment building along with three duplexes-one side-by-side duplex and two upper/lower duplexes-offering a diverse mix of unit styles that attract a broad tenant base. The centerpiece of the portfolio is the stately 15-unit brick apartment building, featuring three secure entrances serving both upper and lower levels. Units 1-12 offer spacious 2-bedroom, 1-bathroom floor plans, while three additional 1-bedroom, 1-bathroom apartments are located on the lower level. Tenant amenities include coin-operated laundry facilities, storage units, a common bathroom, and garage rentals, adding convenience and supplemental income potential. Most apartments also feature private balconies. The duplexes provide additional character and variety. The side-by-side duplex offers private back decks and dedicated garage spaces, creating a single-family-home feel for tenants. The standout property is the impressive 302/304 Ashland Court duplex. While modest in appearance from the exterior, the interior reveals remarkable charm and craftsmanship, including original woodwork, a stunning fireplace, soaring ceilings, spacious kitchens, and generous living areas. The lower unit features two bedrooms and two bathrooms, while the upper unit offers two bedrooms, abundant natural light, and exceptional living space. This property still needs some elbow grease to shine it up, but the sweat equity will surely pay off. Envision the possibilities... The portfolio has a proven track record of strong occupancy and consistent rental demand, with vacancies historically remaining short-lived. Ownership currently covers water, sewer, garbage service, natural gas, snow removal, and lawn care, while tenants pay their own electricity. Located just minutes from downtown, residents enjoy convenient access to local shops, restaurants, community events, and year-round entertainment. Whether you're looking to expand an existing portfolio or acquire a turnkey multifamily investment with scale, stability, and upside potential, this package presents a truly exceptional opportunity.