$585,000
$625,000
6.4%For more information regarding the value of a property, please contact us for a free consultation.
4 Beds
4 Baths
3,355 SqFt
SOLD DATE : 04/10/2023
Key Details
Sold Price $585,000
Property Type Multi-Family
Sub Type Ranch
Listing Status Sold
Purchase Type For Sale
Square Footage 3,355 sqft
Price per Sqft $174
Subdivision Baileys Addition
MLS Listing ID 20230011809
Sold Date 04/10/23
Style Ranch
Bedrooms 4
Full Baths 4
Originating Board Realcomp II Ltd
Year Built 1991
Annual Tax Amount $5,567
Lot Size 10,890 Sqft
Acres 0.25
Lot Dimensions 75.00 x 150.00
Property Description
Highly desired Downtown Romeo 4 unit income property. Tons of recent capital improvements over the past year. All units are exactly the same, 2bdrm, 1 bath, in-unit laundry. Fully leased with long term tenants. Combined gross monthly rental income is $4,300. rents are: ($1200, $1150, $1000, $900) Annual $51,600. There is room to raise rents about $6,000 annually. Capital improvements include 2 heavily renovated units with new kitchens, baths, flooring, appliances, paint. All units have new exterior doors and all windows. Tenants pay all utilities (water, gas, electric) Landlord expenses include property taxes, building insurance, water softener salt & grounds maintenance. No showings without an accepted offer to avoid disturbing tenants.
Location
State MI
County Macomb
Area Romeo Vlg
Zoning Multi-Family
Direction North side of Lafayette
Interior
Interior Features Laundry Facility
Hot Water Natural Gas
Heating Forced Air
Cooling Central Air
Fireplace no
Heat Source Natural Gas
Laundry 1
Exterior
Garage Spaces 8.0
Waterfront no
Roof Type Asphalt
Porch Patio
Road Frontage Paved
Garage no
Building
Foundation Crawl
Sewer Public Sewer (Sewer-Sanitary)
Water Community
Architectural Style Ranch
Level or Stories 1 Story
Structure Type Brick,Vinyl
Schools
School District Romeo
Others
Pets Allowed Yes
Tax ID 0402201013
Ownership Short Sale - No,Private Owned
Acceptable Financing Cash, Conventional
Rebuilt Year 2021
Listing Terms Cash, Conventional
Financing Cash,Conventional
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Bought with KW Domain
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Managing Partner | License ID: 6506046014
280 North Old Woodward Avenue, Suite 100, Birmingham, MI, 48009, United States