323 W Wright Avenue Shepherd, MI $ 489,000
323 W Wright Avenue
$ 489,000
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323 W Wright Avenue

Shepherd, MI, 48883
$ 489,000
Baths4.0 Sq 5,000

Monthly Estimate*

$ 3,011

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Studio

Multi-Family Home for sale in Shepherd, MI

for $489,000 with 4 full baths. This 5,000 square foot home was built in 1850 on a lot size of 0.68.

Rare Historic Multi-Family Opportunity in a prime Main Street location! Built by the original founder of Shepherd, this unique historic property offers exceptional income potential in the heart of Central Michigan. With over 5,000 finished sq ft, the building was previously configured as four separate apartment units, making it ideal for investors looking to restore a traditional 4-unit rental with two upper and two lower units, or explore flexible options such as short term rentals or an owner-occupied income property. The spacious layout includes a full basement, offering additional storage or future expansion possibilities. Situated on a generous lot, the property features an open side yard and a large parking area to accommodate tenants and guests. Located adjacent to a family-friendly park, directly across from popular restaurants and thriving local businesses, and less than 10 minutes from Central Michigan University, Soaring Eagle Casino & Resort, and Alma College, this property offers both convenience and strong rental appeal. Whether you're looking to expand your portfolio or create a one-of-a-kind income-producing property, the possibilities here are truly endless.

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Multi-Family Active

Price

$ 489,000

Bedrooms

Studio

Full Bath

4

Property Type

Multi-Family

Taxes

$ 0

Style

Colonial

Lot Size

0.68

Year Built

1850

Town/City

Shepherd

County/Region

Isabella

MLS | Web ID

1944433

Features
Interior
Interior Amenities Storage High Speed Internet
Basement Full Daylight Finished Rooms Exterior Entry
Flooring Hardwood
Fireplace Features None
Basement (Y/N) N
Air Conditioning Y/N Y
Heating Y/N N
Fireplace Y/N N
Laundry Features Laundry Hook-up
Below Grade Finished Area Unit Type Square Feet
Above Grade Finished Area Unit Type Square Feet
Total Baths 4
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General
Sewer Public Sewer
Heating Forced Air Natural Gas
Cooling Central Air Window Unit(s)
Possession Close Of Escrow Negotiable
Roof Metal
Appliances Refrigerator Washer Dryer
Patio/Porch Features Covered
Architectural Style Colonial
Construction Materials Frame Wood Siding
Pets Allowed false
Year Built 1850
Stories Count 2
Township Village of Shepherd
Levels 2+ Stories
Property Subtype Multi Family
Waterfront Features None
Community Features None
Accessibility None
Assoc Fee Paid Per Annually
County Isabella
New Construction N
Property Type Residential Income
Attached Garage N
Subdivision Name Village of Shepherd
Garage Y/N N
Other Structures Shed(s)
Rent Includes None
Status Active
Directions On main street in Shepherd W. Wright Ave. Directly across from the Shepherd Bar & Restaurant property is on the South side of the street.
City Shepherd
High School District Shepherd Public School District
Zoning Description Commercial
Number Of Units Total 4
Lot Size Units Acres
Lot Size Square Feet 29620.8
Carport Y/N N
Home Warranty Y/N N
Ok to Lease Other Until Sold
Lease Renewal Y/N N
Lease Considered Y/N Y
Living Area Units Square Feet
Standard Status Active
Middle/Junior School District Shepherd Public School District
Elementary School District Shepherd Public School District
Tax Assessed Value 89000
Ownership Type Private Owner
Lease Amount Frequency Annually
Legal Description COM 112 FT W OF NE COR LOT 7 BLK 3 VIL OF SHEPHERD TH S 100 FT TH E 22 FT TH S 30 FT TH W 10 FT TH S 17 FT TH W 89 FT TH S 35.25 FT TH W 75 FT TH N 182.25 FT TH E 152 FT TO POB
Year Built Effective 2021
Freehold IDX
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Exterior
Exterior Amenities Sidewalk Rain Gutters
Parking Features None
Lot Features Landscaped
Water Source Public
Lot Size Area 0.68
Foundation Details Stone
Number of Buildings 2
Spa Y
Lot Dimensions 152X182
Lot Size Acres 0.68
Road Surface Type Asphalt
Waterfront Y/N N
Road Responsibility Public Maintained Road
Horse Y/N N
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* Excluded Features
List By
Exp Realty Llc

Broker

(989) 965-3075

Phone

Affordability Calculator

$3,011
Per Month
100%
0%
0%
Monthly Principal & Interest
$3,011
Monthly Property Taxes
--
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
2034052 Elementary School
2034224 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
4/30/2026$489,000 Listed Price

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323 W Wright Avenue, Shepherd, MI, 48883 is a Multi-Family Home for sale at $489,000 with 5,000 sqft and a lot size of 0.68. 323 W Wright Avenue is a studio with 4.0 baths and was built in 1850. The property's zip code is 48883 which is in Shepherd, MI