Property Description

BUSINESS/LIFESTYLE OPPORTUNITY! This Upper Peninsula business opportunity is located in Chassell, a small community in Houghton County, Michigan. This village is situated on Pike Bay, an inlet of Portage Lake near the mouth of the Sturgeon River. It sits on the southeastern side of the Keweenaw Peninsula, often referred to as the "Copper Country." - The Chippewa Apartments, a 10-unit multifamily property situated directly on US-41, is ideally positioned just 7.6 miles from the vibrant city of Houghton?home to Michigan Technological University. It offers an exceptional combination of income potential and outdoor lifestyle appeal. - Originally constructed in 1950 and thoughtfully converted from a motel into apartment units between 2010-2011, the property features a mix of studio, one-bedroom, and two-bedroom units with updated interiors, energy star appliances, modernized mechanical systems, tenant-controlled HVAC, coin laundry, extensive parking, a sprinkler system, and a smoke-free environment. One Unit is Wheelchair accessible. Renovations included updated insulation, drywall, flooring, windows, roofing, boiler systems, soffits, fascia, and more. - Outdoor enthusiasts will appreciate immediate access to hiking, biking, snowmobiling, skiing, boating, kayaking, fishing, and countless recreational opportunities that make the Keweenaw region such a sought-after destination. Scenic waterfront surroundings and nearby trail access create strong long-term rental appeal for students, professionals, outdoor enthusiasts, and year-round residents alike. - The property sits adjacent to Chassell Centennial Park and offers beautiful views toward Pike Bay and Portage Lake ? an area known for boating, waterfront recreation, and scenic beauty throughout all four seasons. Winter recreation opportunities abound with nearby ski areas, snowmobile trail systems, and ice fishing destinations, while summer brings biking, paddling, hiking, and access to Lake Superior adventures throughout the Keweenaw Peninsula. - Set on approximately 1.03 acres with approximately 8,184 square feet of living space, Chippewa Apartments represents a stabilized multifamily rental opportunity in a limited-inventory rental market with long-term upside potential. Its combination of location, recreational surroundings, parking, and renovation history creates a compelling opportunity for buyers seeking dependable Upper Peninsula real estate with strong lifestyle appeal. - Additional Information Is Available By Reques

Property Features