Hospitality for Sale
Also listed as Multi-Family
Catylist Listing ID: 30216701
Property Subtypes: Vacation Rental(s)
Number of Units: 4 Units
Building Size (RSF): See Agent
Gross Building Area: See Agent
Gross Land Area: 0.53 Acres
Sale Price: $475,000
Unit Price: $118,750 Per Unit
Property Use Type: Investment
Name of Establishment: cottages on siver
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 3/15/2018

Overview / Comments

4 cottages on the water at silver Lake near Hart Michigan, the sand dunes!
The 2018 summer is nearly booked so the buyer gets around $30,000 in already rented weeks. Property grosses around 45,000 annually we get 50% to reserve.

They have all got new septic tanks and a new professional grade drainfireld, new 110 wiring, interior have all been gone thru.
60' silver Lake frontage. dock and fire pits.

seller is a licensed Realtor

Additional Details

Nearest MSA: Ludington
County: Oceana
Taxing Authority: Oceana County
Tax ID/APN: 00614001100
Zoning: R-2
Retail Clientele: Family, Traveler, Tourist, Recreation, Other
Property Located Between: fox rd and 22nd
Property Visibility: Fair
Largest Nearby Street: silver lake rd
Feet of Frontage: 60
Highway Access: about 12 miles
Airports: 30 miles
Site Description: on the water, jump off dock into knee deep sandy bottom water, stays shallow for like 250' before its over your head. amazing sunsets over the dunes.
Area Description: touristy area with the sand dunes, go cart tracks, jet ski, pontoon boat rentals, ice cream and restaurants.
Nearby Attractions: go cart tracks, miniature golf, zip lines, ice cream shops, antiques, Lake Michigan only minutes to two large expanses of public beach.
Total Number of Buildings: 4
Number of Stories: 1
Property Condition: Good
Year Renovated: 2010
Total Parking Spaces: 12
Parking Type: Surface
Parking Description: trap rock. supports heavy trailers and trucks yet is porous to allow water to drain thru.
Heat Type: Electricity
Heat Source: Other
Air Conditioning: Window Unit
Internet Access: Cable
Interior Description: the interiors have been upgraded
Zoning Description: R-2
Lot Frontage: 60'
Lot Depth: 325
Water Service: Well
Sewer Type: Septic
Land Ownership: llc
Legal Description: lots 11 & 38 of Adelia Beach

Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 1,742 2,850
Median Age: 51.37 50.28
Households: 781 1,241


Photograph of Listing Agent

Robert Ortman

Resource Realty LLC
CARWM Member
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