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Jenn Smart

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246 Ashland , Ironwood, MI 49938
$1,092,250
Est. Payment: $5,691.87/mo
0 Bed
0 Bath
0 Sqft
Status: active | Days on site: 83
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VCR-C15903466 - VCR-C159091383,VCR-C159052275
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House Description

Premier Multi-Family Investment Opportunity – 21 Rental Units & 24 Garages on One Street Rarely does an investment opportunity of this scale and stability become available. This impressive portfolio includes 21 rental units and 24 garages, all conveniently located along the same street, creating exceptional management efficiency and strong long-term rental appeal. The property consists of a beautiful 15-unit brick apartment building along with three duplexes—one side-by-side duplex and two upper/lower duplexes—offering a diverse mix of unit styles that attract a broad tenant base. The centerpiece of the portfolio is the stately 15-unit brick apartment building, featuring three secure entrances serving both upper and lower levels. Units 1–12 offer spacious 2-bedroom, 1-bathroom floor plans, while three additional 1-bedroom, 1-bathroom apartments are located on the lower level. Tenant amenities include coin-operated laundry facilities, storage units, a common bathroom, and garage rentals, adding convenience and supplemental income potential. Most apartments also feature private balconies. The duplexes provide additional character and variety. The side-by-side duplex offers private back decks and dedicated garage spaces, creating a single-family-home feel for tenants. The standout property is the impressive 302/304 Ashland Court duplex. While modest in appearance from the exterior, the interior reveals remarkable charm and craftsmanship, including original woodwork, a stunning fireplace, soaring ceilings, spacious kitchens, and generous living areas. The lower unit features two bedrooms and two bathrooms, while the upper unit offers two bedrooms, abundant natural light, and exceptional living space. This property still needs some elbow grease to shine it up, but the sweat equity will surely pay off. Envision the possibilities... The portfolio has a proven track record of strong occupancy and consistent rental demand, with vacancies historically remaining short-lived. Ownership currently covers water, sewer, garbage service, natural gas, snow removal, and lawn care, while tenants pay their own electricity. Located just minutes from downtown, residents enjoy convenient access to local shops, restaurants, community events, and year-round entertainment. Whether you're looking to expand an existing portfolio or acquire a turnkey multifamily investment with scale, stability, and upside potential, this package presents a truly exceptional opportunity.

Highlights

Listed by ELLEN WYSSLING , 906-364-0655 and JANICE WYSSLING , 906-285-0191 THE REAL ESTATE STORE , 906-932-5406. MiRealSource, Inc. mls logo

Property Type

Business Opportunity

Lot/Acreage
1.73

Year Built

1975

County

Gogebic

Area

Ironwood (27006)

Listing ID

50210046

Questions about this listing?

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Interior Features

Bedrooms and Bathrooms
  • Bedrooms:0
  • Bathrooms:0
  • Full Bathrooms:
Air Cond:Ceiling Fan(s),Wall/Window A/C
Fireplaces:
Above Ground Sq Ft:0
Water:Public Water

Exterior Features

Lot:Utilities Above Ground,Cleared
Lot Dimensions:Irregular
Zoning:Commercial
Roof:Asphalt
Others:
  • Additional:Deck/Patio, Garden Area
Sewer:Public Sanitary
Parking Features:21+ Spaces,Off Street
Principal Interest
$5,692
Taxes
$696

Home Price

$1,092,250

Loan Details

30 yrs
6.792%

Down Payment

20%
$218,450
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:
$5,691.87

Principal

Taxes

Principal Taxes HOA Total
Monthly $5,691.87 $696.31 $0.00 $6,388.18
Yearly $68,302.40 $8,355.71 $0.00 $76,658.11
Total $2,049,072.00 $250,671.38 $0.00 $2,299,743.38
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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).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.

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

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