Full Home Description

Charming Downtown Gladstone Multi-Family Investment with Bonus Commercial Space! Here’s a rare opportunity to own a beautifully maintained multi-family property right in the heart of downtown Gladstone—one of the Upper Peninsula’s most charming and steadily growing small-town communities. Ideally located just steps from shops, restaurants, and the Gladstone Farmers Market, this versatile two-story building combines strong rental potential with bonus commercial and office space below, making it a smart option for investors or owner-occupants alike. The upper level features three apartments, each filled with bright natural light and plenty of character. Two units are move-in ready and have been thoughtfully maintained, offering reliable income from day one. The third apartment presents an excellent renovation opportunity, giving the next owner a chance to boost returns and add long-term value. Together, these units provide flexible rental options in a highly desirable walkable location with consistent tenant demand. On the main level, the property includes a long-established barbershop that has been a trusted downtown business for years. This space provides steady income and excellent street visibility but could also be converted into another residential unit, retail storefront, or office depending on your goals and zoning. Additional office and storage areas on the main floor add even more functionality for business use, management operations, or tenant needs. A full basement offers easy utility access and plenty of storage space, while the two-car garage adds extra convenience for tenants or owners. The property has been well cared for throughout, reflecting clear pride of ownership and strong long-term potential. With its excellent downtown location, stable rental history, and the continued revitalization of the surrounding business district, this property offers immediate cash flow and room to grow—ideal for anyone looking to establish a strong investment presence in Gladstone. Property Highlights: • Three upstairs apartments (two move-in ready, one ideal for renovation) • Main-level barbershop with strong visibility and long-term tenant history • Additional office and storage areas on the main floor • Two-car garage • Full basement for utilities and extra storage • Premier downtown location near shops, restaurants, and the Farmers Market • Excellent live-and-rent or investment opportunity Current Rental Structure: • Apartment 1: $550/month, no lease, no security deposit • Apartment 2: $550/month, $450 security deposit, active lease • Apartment 3: $400/month, no lease, no security deposit • Commercial Space: $750/month, no lease, no security deposit