Property Description

Rare Opportunity with Land Contract Terms ??? Only 20% Down for Qualified Buyers! Built in the late 1800s by railroad conductor Milo Eastman, this iconic East Tawas landmark has been thoughtfully converted into five income-producing apartments while preserving much of its original character and architectural charm. Situated on two city lots, the property also includes a large two-story carriage house with original wood floors and an attached storage area. The building features five tenant-occupied units, all on month-to-month leases. Apartment #5 is a spacious two-story, 3-bedroom, 1.5-bath unit offering approximately 1,400-1,500 square feet with a private porch, laundry room, soaring ceilings, stained-glass windows, and beautiful original woodwork. Apartments #2, #3, and #4 are one-bedroom units, while Apartment #1 is a spacious open-concept studio. This property has a proven rental history with nearly zero vacancy, making it an exceptional investment opportunity. Recent improvements include a new concrete driveway for Apartments 1 and 2, an upgraded gravel driveway serving the remaining units and carriage house (both completed in 2022), and a complete roof replacement in 2008. Located within walking distance of downtown East Tawas and the beautiful shores of Lake Huron, the property offers tall ceilings, original trim, stained glass, spacious rooms, and timeless craftsmanship that is difficult to replicate. After many years of ownership, the sellers are ready to pass this treasured property to its next owner. Showings by appointment only for pre-approved buyers. Please do not disturb the tenants.

Property Features

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