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$ 580,000
Est. payment | /mo
12 Baths
4,356 Sqft Lot
$ 580,000
Est. payment | /mo
12 Baths
4,356 Sqft Lot
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Municipality Detroit City
Subdivision Detroit City
MLS Listing ID 50220846
Year Built 1927
Lot Size 4,356 Sqft
Acres 0.1
Lot Dimensions 4356
Source MiRealSource
Property Description
Excellent investment opportunity featuring a 12-unit income-generating apartment building. 10 of the units are 1 bed 1 bath and 2 of the units are studios. Tenants are responsible for their own electric and gas utilities, while the owner pays for water. Several occupied units have already been renovated with fresh paint and modern flooring. The vacant units may require some updating, and offer an opportunity for an investor to renovate and increase overall rental income. Market rents are estimated at approximately $700–$750 per unit. Land contract terms are available with a $50,000 down payment.
Location
State MI
County Wayne
Interior
Heating Forced Air
Exterior
View Y/N No
Building
Lot Description Corner Lot
Structure Type Brick
Others
Tax ID 16043623
Acceptable Financing Cash, Conventional, Land Contract
Listing Terms Cash, Conventional, Land Contract
Listed by Elite Real Estate Professionals, Inc.
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