9317 Main St Whitmore Lake, MI

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Main St, Northfield Township, Home For Sale

Price: $625,000
Address: 9317 Main St
City: Whitmore Lake
State: MI
Zip:
Amenities: Parking
Bathrooms: 4
Bedrooms: 4
Fee: No
Provided By: RealtyWW

Description:

Welcome to 9317 Main Street, located in the heart of downtown Whitmore Lake. This fully renovated multifamily property presents an outstanding investment opportunity. The property consists of four one-bedroom, one-bathroom units, three of which are already operating as highly profitable Airbnb rentals. The fourth unit is leased long-term but is set to transition to a short-term rental after the lease expires in May, bringing the projected annual gross income to over $101, 000. This investment offers a strong current cap rate of 9.6%, which will increase to 12.1% once all units are fully utilized as short-term rentals. The propertys prime location provides guests with easy deeded across the road to Whitmore Lake, an all-sports lake spanning 667 acres. The lake is a major draw for Airbnb guests, ensuring near 100% occupancy on summer weekends with an average nightly rental rate of $117.

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