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Active - Multi Family for sale
321 Dresser St, Cheboygan, MI 49721
Facts & features
Why you’ll love it
- Renovated
- Move-in ready
Excellent opportunity to own an updated triplex just two blocks from downtown Cheboygan. Two units are currently leased at $980 and $975 per month, providing $1,955/month in existing rental income. The third unit is vacant and move-in ready following an extensive 2025 renovation. Seller estimates rental potential for the vacant unit at approximately $925/month. T12 operating expenses were approximately $10,332. Profit and loss statements and a complete rent roll are available upon request. The vacant unit also creates an excellent opportunity for an owner-occupant looking to “house hack” and use income from the other two apartments to help offset housing costs. The property consists of two 1-bedroom/1-bath units and one 2-bedroom/1-bath unit. Apartment 2 was extensively renovated in 2025 with all-new LVP flooring, kitchen cabinets, appliances, bathroom, fixtures, paint, and windows, along with a laundry hookup. Apartments 1 and 3 have also been updated with LVP flooring and fresh paint, and both include in-unit washers and dryers. Additional improvements include a newer roof and new front and side porches. Apartments 1 and 2 share a new deck/porch, while Apartment 3 features a large rear deck and its own yard space. Three off-street parking spaces provide convenient parking. Electric is separately metered for each apartment, while the landlord currently pays gas and water/sewer. Heating is provided by a forced-air furnace. Situated on a quiet residential street with downtown shops, restaurants, and amenities just a short walk away, the property benefits from strong local rental demand and limited apartment supply. With two established tenants, a beautifully renovated vacant unit, and numerous recent improvements, 321 Dresser St. is an attractive opportunity for an investor or owner-occupant.
Listed by: Steven Koleno • (804) 656-5007 • BEYCOME BROKERAGE REALTY LLC
Co-listed by: BEYCOME BROKERAGE REALTY LLC
Source: Beycome, MLS#: 17122540
Based on information as of Sep 02, 2026 at 10:00pm EDT.
Come see by yourself
Affordability
$1,354/mo
- Mortgage$1,162
- Property tax$191
- HOA fee
- Homeowners insurance
Beycome estimates only. Actual amounts and terms vary by lender and location.
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About Cheboygan
AI-generated overview for informational purposes only.
Please verify all details independently before relying on it.
Flood & climate risk
FEMA Flood Zone X
Outside the high-risk Special Flood Hazard Area — flood insurance is usually optional but still worth considering.
More details
Source: FEMA National Flood Hazard Layer. Confirm on the FEMA Flood Map.
Fire
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Disclaimer
No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Copyright Beycome ©2026. Based on information as of Sep 02, 2026 at 10:00pm EDT.
