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Jenn Smart

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101 N Lowell , Ironwood, MI 49938
$599,000
Est. Payment: $3,121.47/mo
0 Bed
0 Bath
13062 Sqft
Status: active | Days on site: 1
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VCR-C15903466 - VCR-C159091383,VCR-C159052275
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House Description

Investment Opportunity! The Norwegian; a historic gem offering 15 apartments along with an adjacent mixed use building offering a commercial space with a 2 bedroom apartment, plus a detached 3 car garage located in the revitalized Ironwood downtown district. Three story brick apartment building consists of a mix of ten studio units, one 1 bedroom unit, two 2 bedroom units and 1 three bedroom units all with kitchen appliances. Also included is an onsite office and additional storage rooms. Full basement features a laundry room with 2 newer washers and 2 newer dryers, tenant storage closets and several rooms for potential use. 2 year old central hot water boiler system and separate electrical meters with new 800 amp service. Rental history with steady income. Property manager currently in place or self manage. The adjacent 2 story mixed use building (#107) has separate entrances to both levels. Main level offers an open commercial space of 1200 sq ft, concrete floors, a temporary wall creating a front and back space and new wall mounted heater. This blank slate provides several possibilities for an additional income source. The upper level houses an updated 2 bedroom, 1 bath apartment with fireplace, updated appliances and new stackable washer/dryer. Here you will find lots of original features with the tall ceilings, rounded archways, crown molding, hardwood floors, large rooms and many closets. Newer vinyl windows, natural gas heat and metal roof. A 3 car detached garage built in 1981 sits at the back of the large gravel parking lot. This property offers 1.44 acres which runs parallel to the snowmobile and utv trails as well as the Iron Belle Trail. Schedule a time to take a look and get in on this investment opportunity.

Highlights

Listed by GAYLE COLASSACO , 906-364-0621 and PETER SEIFERT , 906-285-9955 FIRST WEBER, INC , 906-667-6366. MiRealSource, Inc. mls logo

Property Type

Commercial Sale

Lot/Acreage
1.44

Year Built

1920

County

Gogebic

Area

Ironwood (27006)

Listing ID

50209660

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Interior Features

Bedrooms and Bathrooms
  • Bedrooms:0
  • Bathrooms:0
  • Full Bathrooms:
Above Ground Sq Ft:13062
Water:Public Water

Exterior Features

Lot Dimensions:80x100 + irregular lot
Zoning:Mixed Use
Roof:Metal,Rubber
Sewer:Public Sanitary
Parking Features:11-20 Spaces,Off Street,Parking Lot
Principal Interest
$3,121
Taxes
$382

Home Price

$599,000

Loan Details

30 yrs
6.792%

Down Payment

20%
$119,800
All calculations are estimates and provided by Blueroof360. Today’s Rates provided by Blueroof360. Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Monthly Price:
$3,121.47

Principal

Taxes

Principal Taxes HOA Total
Monthly $3,121.47 $381.86 $0.00 $3,503.33
Yearly $37,457.67 $4,582.35 $0.00 $42,040.02
Total $1,123,730.03 $137,470.50 $0.00 $1,261,200.53
Lender profile image
So-Crates Johnson
Dust, Wind, Dude
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Market insight data is pulled from the same city as the listing being viewed (Ironwood, MI).

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Data last updated: 2026-09-02T01:10:54.300Z

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