Improved Residential Land for Sale in Cheboygan, Michigan

Excellent investment opportunity -- a fully occupied 6-unit apartment complex ideally located directly across from McLaren Hospital and just minutes from Downtown Cheboygan. The property totals approximately 7,500 SF on 2.5 +- acres and consists of three 3-bedroom / 1.5-bath units and three 2-bedroom / 1.5-bath units, all currently leased month-to-month. Each unit offers two private parking spaces, a semi-private backyard area, and a dedicated storage shed. Currently offered at an approximate 8.35% CAP rate, with value-add potential through future development of the property's excess acreage. Don't miss this opportunity to invest in one of Cheboygan's best-located multifamily assets.