$850,000
$875,000
2.9%For more information regarding the value of a property, please contact us for a free consultation.
20 Baths
15,390 SqFt
SOLD DATE : 02/08/2024
Key Details
Sold Price $850,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 15,390 sqft
Price per Sqft $55
Subdivision Seven Mile Lahser Sub
MLS Listing ID 58050102676
Sold Date 02/08/24
Full Baths 20
Originating Board MiRealSource
Year Built 1971
Annual Tax Amount $10,840
Lot Size 0.340 Acres
Acres 0.34
Lot Dimensions 14810
Property Description
Great investment opportunity, 13% plus cap rate! Renovated 2.5 story 20-unit brick apartment building with eleven 1-bed 1-bath, six 2-bed 1-bath and 2 studios situated on a 14,810 sf site with good curb appeal. Leases negotiable upside increase to market rents, current occupancy 100%. Boiler and roof updated, parking lot for tenants. Property manager in place or self-manage. Ideal opportunity for cash buyer or bank financing.
Location
State MI
County Wayne
Area Det - 6 To 8, Grnfld To Limits
Interior
Heating Forced Air, Separate Meters
Fireplace no
Heat Source Natural Gas
Exterior
Waterfront no
Garage no
Building
Foundation Basement
Sewer Public Sewer (Sewer-Sanitary)
Water Public (Municipal)
Schools
School District Detroit
Others
Pets Allowed Yes
Tax ID 221136516
Ownership Short Sale - No,Private Owned
Acceptable Financing Cash
Listing Terms Cash
Financing Cash
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Bought with Abdoo Realty
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280 North Old Woodward Avenue, Suite 100, Birmingham, MI, 48009, United States