Properties for sale in Michigan

Overview

Description

Waterfront investment property! This premier 7-bedroom, 6-bath waterfront home is a standout investment opportunity at $1.8 million. Newly remodeled and furnished with high end furniture included in the sale. Accommodating up to 14/16 guests, it features a charming four-season front porch, back patio for outdoor BBQ's, a private hot tub, and it's part of an 11-unit association offering a shared pool. This home comes with 2 of the associations premier end docks that only owners can enjoy with a gate to keep your boat secure. Perfectly positioned between downtown Saugatuck and Douglas, it's just a stroll away from great restaurants, shopping, bars, and parks. Ideal for large groups and unforgettable getaways! Could be converted back to a bed and breakfast again if someone wanted to make that their residence and offer rooms to rent.

Supplements: Owner is licensed agent in the State of Michigan

Open Houses

Sunday, March 22, 11:00 am - 1:00 pm

Location Property Info

County: Allegan
Street #: 787
Street Name: Lake
Suffix: Street
State: MI
Zip Code: 49453
Zip (4): 9434

General Property Info

New Construction: No
Lot Measurement: Acres
Lot Acres: 0.97
Lot Square Footage: 42213
Lot Dimensions: 0 x 0
Year Built: 1920
Mineral Rights: No
Year Remodeled: 2021
Total # Units: Yes
# Fin Bldg Lvls: 2
# of Diff Unit Floor Plans: Yes
Total # Bldgs: Yes
Total SqFt: 2744
Total Net SqFt: 4044
Property Use Type: Investment
Full Baths: 6
Total Baths: 6
Waterfront: Yes
Body of Water: Kalamazoo Lake
School District: Saugatuck-Douglas
Statewide Lakes & Rivers: Kalamazoo Lake
Middle School: Saugatuck Middle School
High School: Saugatuck High School
Road Frontage: 0

Tax Info

Tax ID #: 57-875-011-00
Taxable Value: 358280
SEV: 449800
For Tax Year: 2020
Seller's Annual Property Tax: 21250
Tax Year: 2025
Spec Assessment & Type: None known
Non-Conforming Use: No
Zoning: R-RESORTDIST C4
Homestead %: 0

Remarks Misc

Directions: Bluestar to lake to address on the left.

Additional Details

Total Parking Spaces: 6

More Information

Income and Expenses

Annual Maint ($): 3500
Annual Mgt Fees ($): 20
Gross Op Income ($): 150000
Total Actual Rent: 110000

Waterfront Options

Water Access Y/N: Yes
Water Frontage: 175

Location & Property Info

Unit #: 11
Cross Streets: Bridge and Bluestar
Property Sub-Type: Business Opportunity
Municipality: Saugatuck City
Principal Road: Yes
Ownership Type: Private Owned

Office/Contract Info

Auction or For Sale: For Sale
List Price/SqFt: 655.98
Prop Avail for Lease?: No
Current Bldg Use: Waterfront Short term rental with pool

Remarks & Misc

Public Remarks: Waterfront investment property! This premier 7-bedroom, 6-bath waterfront home is a standout investment opportunity at $1.8 million. Newly remodeled and furnished with high end furniture included in the sale. Accommodating up to 14/16 guests, it features a charming four-season front porch, back patio for outdoor BBQ's, a private hot tub, and it's part of an 11-unit association offering a shared pool. This home comes with 2 of the associations premier end docks that only owners can enjoy with a gate to keep your boat secure. Perfectly positioned between downtown Saugatuck and Douglas, it's just a stroll away from great restaurants, shopping, bars, and parks. Ideal for large groups and unforgettable getaways! Could be converted back to a bed and breakfast again if someone wanted to make that their residence and offer rooms to rent.
Legal: UNIT 11 OF SHADY SHORES CONDOMINIUMS TOGETHER WITH BOAT SLIP ''G'' AS A LIMITED COMMON ELEMENT ALSO INCL. BOAT SLIPS F &

Water Type

Lake: Yes

Water Fea. Amenities

All Sports: Yes
Assoc Access: Yes
Dock: Yes
Shared Frontage: Yes
View: Yes

Street Type

Paved: Yes
Public: Yes

SqFt Information

Carbon Monoxide Detector(s): Yes
Smoke Detector(s): Yes

Property Use

Investment: Yes

Utilities Attached

Cable Connected: Yes
Electricity Connected: Yes
Natural Gas Connected: Yes

Sewer

Public Sewer: Yes

Water

Public Water: Yes

Uses

Other: Yes

Construction Type

Frame/Wood: Yes

Exterior Material

Vinyl Siding: Yes

Roofing

Composition: Yes

Heat Source

Natural Gas: Yes

Sale Conditions

None: Yes

Ownership

LLC: Yes

Below Grade

Basement: Yes

Heat Type

Baseboard: Yes
Forced Air: Yes
Hot Water: Yes

Air Conditioning

Central Air: Yes
Window Unit(s): Yes

Docs at List Office

Aerial Photo: Yes

Business Includes

Furniture: Yes
Inventory: Yes
Licenses: Yes
Real Estate: Yes

Foundation

Block: Yes

Util Avail at St

Cable Available: Yes
Electricity Available: Yes
High Speed Internet: Yes
Natural Gas Available: Yes
Storm Sewer: Yes

Tenant Pays All

Building Insurance: Yes
Electric: Yes
Gas: Yes
Prop Taxes/Assess: Yes
Sewer: Yes
Water: Yes

Driveway

Shared Paved: Yes

Docs Req Conf Agrmnt

Financials: Yes

Purchase Terms Avail

Cash: Yes
Conventional: Yes

Possession

Close Of Escrow: Yes

Property Features

Property Use: Investment SqFt Information: Carbon Monoxide Detector(s); Smoke Detector(s) Water Type: Lake Uses: Other Ownership: LLC Business Includes: Furniture; Inventory; Licenses; Real Estate Construction Type: Frame/Wood Exterior Material: Vinyl Siding Roofing: Composition Foundation: Block Below Grade: Basement Tenant Pays All: Building Insurance; Electric; Gas; Prop Taxes/Assess; Sewer; Water Sewer: Public Sewer Water: Public Water Utilities Attached: Cable Connected; Electricity Connected; Natural Gas Connected Util Avail at St: Cable Available; Electricity Available; High Speed Internet; Natural Gas Available; Storm Sewer Heat Source: Natural Gas Heat Type: Baseboard; Forced Air; Hot Water Air Conditioning: Central Air; Window Unit(s) Driveway: Shared Paved Street Type: Paved; Public Purchase Terms Avail: Cash; Conventional Docs at List Office: Aerial Photo Docs Req Conf Agrmnt: Financials Sale Conditions: None Possession: Close Of Escrow

787 Lake Street 11, Saugatuck, MI 49453