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$899,990
Est. payment /mo
19 Baths
8,276 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 20251019653
HOA Y/N true
Year Built 1929
Annual Tax Amount $12,330
Lot Size 8,276 Sqft
Acres 0.19
Lot Dimensions 76.00 x 110.00
Source Realcomp
Property Description
Rare opportunity on this Value Add Multi Family comprised of 19 units. Full brick well maintained building in the heart of Detroit. All units have been renovated. Unit mix consists of (14) one bedroom units, (1) two bedroom units ,(4) studio units. Strong financials with a projected 12.5%+ cap rate with all 19 units rehabbed. Each hallway and common areas are updated. Each unit has its own electric meter, Plenty of crucial upgrades completed including new boiler, common area and unit renovations, and many other capital upgrades totaling 250,000. The exterior has been impeccably maintained with a newer Spanish clay tile roof on the building, newer windows, and parking available for tenants. All tenants are in great standing with management, and management is offering a one or two year transition management agreement to the new investor. Conveniently located near major highways making commuting to nearby landmarks such as Wayne State University and Downtown Detroit. Don't miss out on this amazing opportunity.
Location
State MI
County Wayne
Area Wayne County - 100
Zoning Commercial,Multi-Family,R
Direction Davison/96
Interior
Heating Radiant, Steam
Cooling Wall Unit(s)
Exterior
Amenities Available Pets Allowed
View Y/N No
Roof Type Rubber,Tile
Building
Sewer Public
Water Public
Structure Type Brick
Schools
School District Detroit
Others
Tax ID W10I008797S
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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Listed by EXP Realty Main
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