12218 7th Street
Bear Lake, MI 49614

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Description

Charming Bear Lake duplex with solid income potential! This cute, clean property features two well-kept 2-bedroom, 1-bath units, each with its own garage and laundry. Currently bringing in $1,800 per month total ($900 per unit), it's a great opportunity for an investor or owner-occupant looking for steady cash flow in a desirable lakeside community. Tidy, functional, and easy to love — this is a smart addition to any portfolio. Property functions on private well and septic with natural gas furnace for each unit. Both units have individual gas and electric meters to keep utilities separate. Great location only short walk to Bear Lake and many of the town's conveniences; Bear Lake School, Library and Post Office. Purchase as your primary and use the income from other unit as your own to finance or make easy conversion to 4 bedroom home for your future living needs.

Features

• Property Type: Multi Family Home
• Sub Type: 2 to 4 Units
• Listing Status: Active Backup
• County/Area: Manistee County
• Zip Code: 49614
• Year Built: 1992
• School District: Bear Lake
• Units: 2 units
• Basement: Crawl Space
• # of Parking Spaces: 4
• Lot Size: 0.67 acres
• Basement Type: No
• Construction Materials: Vinyl Siding
• Cross Street: South Shore Drive
• Driveway: Asphalt
• Extras: Garages, Sep Electric Meter, Sep Gas Meter, Tenant Storage
• Heat Source: Natural Gas
• Heat Type: Forced Air
• Heating: Forced Air
• Laundry Features: Gas Dryer Hookup, Electric Dryer Hookup
• Lot Description: Recreational
• Lot Features: Recreational
• Lot Size Area: 0.67
• Lot Size Square Feet: 29185
• Lot Size Units: Acres
• Main Type: Multi Family
• Mineral Rights: Yes, Unknown
• Number Of Buildings: 1
• Number Of Diff Unit Floor Plans: 1
• Parcel Number: 02-641-734-30
• Parking Features: Asphalt
• Possession: Subject To Tenant Rights
• Road Frontage: 140
• Road Surface Type: Paved
• Roof: Metal
• SEV: 114000
• Sewer: Septic Tank
• Spec Assessment Ty: none known
• Street Type: Paved, Public
• Tax Annual Amount: 2130
• Tax Legal Description: WILDWOOD LOTS 5, 7 & 8 & N 26 FT OF LOTS 9 & 10 BLOCK 19. SALE(76) 3344 0770 (93) 20 1584 0318, 5 1584 0319 (96) 3631 0051 (98) 3683 0039 (00) 800 4741 0163 (02) 3785 0055 (09) QC 2009R005108
• Tax Year: 2025
• Tenant Pays: Electricity, Gas, Trash Collection
• Terms Available: Cash, Conventional, FHA, MSHDA, Rural Development, VA Loan, 2nd Mortgage
• Township: Bear Lake Twp
• Util Availat Street: High Speed Internet
• Utilities: Natural Gas Connected, Phone Connected, Electricity Connected
• Water Access: No
• Water Source: Well