138 E Sheridan Street Petoskey, MI ^$ 875,000

138 E Sheridan Street

^$ 875,000

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Recently Listed

138 E Sheridan Street

Petoskey, MI, 49770

^$ 875,000

Studio Baths0.0

Monthly Estimate*

^$ 5,388

138 E Sheridan Street, Petoskey, MI 49770 - Image 1

138 E Sheridan Street, Petoskey, MI 49770 - Image 2

138 E Sheridan Street, Petoskey, MI 49770 - Image 3

138 E Sheridan Street, Petoskey, MI 49770 - Image 4

138 E Sheridan Street, Petoskey, MI 49770 - Image 5

138 E Sheridan Street, Petoskey, MI 49770 - Image 6

138 E Sheridan Street, Petoskey, MI 49770 - Image 7

138 E Sheridan Street, Petoskey, MI 49770 - Image 8

138 E Sheridan Street, Petoskey, MI 49770 - Image 9

138 E Sheridan Street, Petoskey, MI 49770 - Image 10

138 E Sheridan Street, Petoskey, MI 49770 - Image 11

138 E Sheridan Street, Petoskey, MI 49770 - Image 12

138 E Sheridan Street, Petoskey, MI 49770 - Image 13

Studio

Multi-Family Home for sale in Petoskey, MI

for $875,000. This home was built in 1900 on a lot size of 3.43.

Well-located 5-unit close to downtown and services. Four units renovated (new electric, drywall, flooring); two new water-heater pumps; parking lot sealed/striped; roof ~5 years old. In-place rent ~$8,100/mo with a mix of renovated and durable finishes. City utilities. Large lot with on-site parking and green space. Attractive cash flow today with upside on future turns and light exterior enhancements.

Multi-Family Active

Price

^$ 875,000

Bedrooms

Studio

Property Type

Multi-Family

Taxes

^$ 12,200

Style

5+ Units

Lot Size

3.43

Year Built

1900

Town/City

Petoskey

County/Region

Emmet

MLS | Web ID

26003305

Features

General

Sewer Public Sewer

Heating Forced Air

Cooling None

Utilities Natural Gas Available Electricity Available Natural Gas Connected Electricity Connected

Roof Composition

Construction Materials Vinyl Siding

Year Built 1900

Tenant Pays None

Township Petoskey City

Property Subtype 5+ Units

Tax Year 2024

Gross Income 97200.0

County Emmet

Net Operating Income 52231.08

Operating Expense 44968.92

Insurance Expense 5312.0

New Construction N

Property Type Multi Family

Status Active

City Petoskey

High School District Petoskey

Number Of Units Total 5

Lot Size Units Acres

Lot Size Square Feet 149411.0

Listing Terms FHA Cash Conventional

Land Lease Y/N N

Tax Annual Amount 12200.0

Lease Renewal Y/N N

Additional Parcels Y/N N

Rent Control Y/N N

Standard Status Active

Tax Assessed Value 101220

Legal Description MARTIN KIRWAN'S ADD. LOT 3 BLK 2 ALSO E 44 FT OF LOT 5 BLK 2 ALSO W 15 FT OF LOT 10 BLK 2. SECTION 6 T34N R5W.

Senior Community None

Interior

Basement Michigan Basement

Basement (Y/N) Y

Air Conditioning Y/N N

Heating Y/N Y

Laundry Features Common Area Laundry Closet

Total Baths 0

Exterior

Total Parking 8.0

Lot Size Area 3.43

Number of Buildings 1

Spa N

Lot Dimensions 153x82.5

Lot Size Acres 3.43

Road Surface Type Paved

Waterfront Y/N N

Crops Included Y/N N

Horse Y/N N

Irrigation Water Rights Y/N N

Internal Only

Street Number 1 138

* Excluded Features

List By

Van Treese Management Llc

Broker

christopher@vantreesemanagement.com

Affordability Calculator

$6,404

Per Month

Monthly Principal & Interest: $5,388
Monthly Property Taxes: $1,017
Monthly Home Insurance: --

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Interest Rate

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Yearly 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

Trends
Schools

Multi-family listings in Petoskey, MI

Average List Price ^$858,333

Percent of Sale Price 2%

About Petoskey, MI

5,638 Population

0% Since 2002

^$40,542 Median Income

38.81 Median Age

19% Households with Children

View more area information

Trends Information provided by ATTOM Data Solutions.

4799279 Elementary School

4799278 Middle School

Unknown High School High School

See complete school information

Pricing History

Date	Price	Price Change	Description
1/28/2026	$875,000		Listed Price

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138 E Sheridan Street, Petoskey, MI, 49770 is a Multi-Family Home for sale at $875,000 with a lot size of 3.43. 138 E Sheridan Street is a studio with 0.0 baths and was built in 1900. The property's zip code is 49770 which is in Petoskey, MI

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: 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.

Listing data provided courtesy of the Internet Data Exchange Program of MichRIC, LLC

The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange Program of MichRIC, LLC. Real Estate listings held by brokerage firms (licensees) other than Weichert Realtors include the name of the listing brokers.

The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Information Deemed Reliable But Not Guaranteed

Data is updated as of 1/30/2026.

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138 E Sheridan Street

Multi-Family Home for sale in Petoskey, MI

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