About This Home

This 0-bedroom, 0-bathroom multi-family at 230 Ely Street in Alma, MI is listed for $50,043 ($13 per sqft). Built in 1959, the home offers 3,720 sqft of living space on a 0.13 acres lot.

Key Features

  • Built in 1959
  • 0.13 acre lot
  • 2 stories

Property Details

2 stories
1959
Listing Description

Investor opportunity on Alma's south side! This top/bottom duplex offers strong potential for the right buyer looking to renovate and build equity. The property experienced a recent fire, leaving the interior as a blank slate-perfect for customizing finishes and layout to your own vision.

Each unit is designed as a 2-bedroom, 1-bath, with market rents estimated between $650-$750 per month per unit once completed. With approximately 3,720 total square feet, there is plenty of space to create a solid income-producing property. Located just south of downtown Alma, this property is close to shopping, dining, and everyday conveniences, making it an attractive option for future tenants.

This property will require full rehabilitation and proper permitting. Due to the condition, all potential buyers must sign a hold harmless agreement prior to entry. Seller is offering a $10,000 credit to the buyer, to be held in escrow and released upon completion of at least 50% of the reconstruction. Bring your vision and turn this property into a strong addition to your investment portfolio!

Monthly Cost Estimate

$268/mo

20% down · 6.5% · 30 years

Principal$36
Interest$217
Insurance$15

Estimates only. Actual payments may vary.

Location

230 Ely Street

Alma, MI 48801

Features & Amenities

Interior Features

Fixer-Upper

Exterior Features

SidewalkLandscapedCovered Porch

Property Details

Construction

Frame

Outdoor Features

Porch

Questions & Answers

This 0-bedroom, 0-bathroom multi-family at 230 Ely Street is listed at $50,043 ($13/sqft). The estimated monthly payment is $268 based on 20% down, a 30-year loan at 6.5% interest, estimated insurance.

Key features include: Built in 1959, 0.13 acre lot, 2 stories. Interior Features: Fixer-Upper. Exterior Features: Sidewalk, Landscaped, Covered Porch.

This property is listed by Micah Kemler.

MK

Micah Kemler

Agent at 43 NORTH REALTY

Listed by 43 NORTH REALTY · Broker phone: 9894631219 · View on Broker Site

MLS# 1946299· Source: Northern Great Lakes Realtors MLS· 141 days on PropertySimple

Copyright © 2026 Northern Great Lakes Realtors MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

230 Ely Street, Alma, MI 48801

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