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
Baths0.0 Sq 1,016

Monthly Estimate*

$ 3,011

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Studio

Multi-Family Home for sale in Shepherd, MI

for $489,000. This 1,016 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

Property Type

Multi-Family

Taxes

$ 0

Style

Colonial

Lot Size

0.68

Year Built

1850

Town/City

Shepherd

County/Region

Isabella

MLS | Web ID

80067557

Features
Interior
Interior Amenities Hardwood Floors
Basement Egress/Daylight Windows Full Outside Entrance Partially Finished Stone
Total Number of Units 4
Fuel Type Natural Gas
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General
Heating Forced Air
Cooling Central A/C Window Unit(s)
Possession At Close
Water Public Water
Appliances Dryer Refrigerator Washer
Status Active Active
Year Built 1850
Subdivision Village of Shepherd MI
Style Colonial
County Isabella
Class MULTIFAMILY
Type Multi-Family
Ownership Private
Municipality Shepherd
Section 5
Zoning Commercial
Sale/Rent For Sale
Status Detail 0
Utilities Cable Available
Area Shepherd (37020)
Primary City Shepherd
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
School District Shepherd Public School District
Financial Terms Cash FHA Land Contract
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
DOM 2
Postal Code 48883
Price Per Sq Ft Total AG 481.3
Public Remarks Rare Historic Multi-Family Opportunity in a prime Main Street location! Built by the original founder of Shepherd
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Exterior
Exterior Wood
Exterior Amenities Porch Sidewalks
Lot Size Area 0.68
Lot Dimensions 152X182
Water Features None
Waterfront Y/N No
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* Excluded Features
List By
Dave Feger

Listing Agent

Exp Realty Llc

Broker

dfeger17@gmail.com

Email

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
1850063 Elementary School
1850067 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
4/30/2026$489,000 Listed Price

Map


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323 W Wright Avenue, Shepherd, MI, 48883 is a Multi-Family Home for sale at $489,000 with 1,016 sqft and a lot size of 0.68. 323 W Wright Avenue is a studio with 0.0 baths and was built in 1850. The property's zip code is 48883 which is in Shepherd, MI