424 Huron Street

Overview

Here is your opportunity to own the historic Asylum Inn, a turnkey investment property ideally located within the city's walkable downtown district. Currently operating as a short and mid-term rental, this unique property includes three approved and transferable STR licenses. The property features three fully furnished units, with furnishings and contents available to convey, allowing the next owner to continue operations immediately. Designed for efficient management and guest convenience, the building is equipped with Yale smart locks at the main entrance and each unit, Arlo security cameras, separate electric meters, independent mechanical systems, and individual high-speed internet and Wi-Fi. The full basement has a private entrance with its below grade walk-out. Your future guests will be able to utilize the two sets of washers and dryers, a private secure storage area for supplies, additional storage space, and existing plumbing for a future half bath.

Property details

What to ask about this one

Three questions worth putting to the listing side before you write anything. They are specific to this property, not a checklist.

1. 01

   Confirm critical dune and high-risk erosion mapping on the parcel

2. 02

   Ask for any EGLE permits covering beach stairs or shore protection

3. 03

   Budget for a pre-1978 inspection — lead paint, knob-and-tube, and the roof

4. 04

   Ask what the taxable value uncaps to after the sale, not what the seller pays now