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$2,500,000
Est. payment /mo
64 Beds
48 Baths
39,816 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 39,816 sqft
Price per Sqft $62
Subdivision Mi
MLS Listing ID 50220594
Style 2 Story
Bedrooms 64
Full Baths 40
Half Baths 8
Year Built 1963
Annual Tax Amount $37,391
Lot Size 1.260 Acres
Acres 1.26
Lot Dimensions 54866
Property Sub-Type Multi-Family
Property Description
Excellent investment opportunity featuring a 40-unit apartment complex consisting of two buildings on one lot. The property offers a desirable unit mix of 16 one-bedroom/one-bath units, 16 two-bedroom/one-bath units, and 8 townhouse-style two-bedroom/1.5-bath units. Currently 98% occupied with only one vacancy, providing strong occupancy and consistent rental income. Both building boilers were replaced last winter. Roofs are in solid condition and windows are well maintained. The property offers an attractive 10% cap rate and is situated in a prime location.
Location
State MI
County Wayne
Area Detroit (82001)
Interior
Heating Boiler
Fireplace No
Building
Story 2 Story
Foundation Basement
Water Public Water
Schools
School District Detroit City School District
Others
Ownership Private
SqFt Source Realist
Energy Description Natural Gas
Financing Cash,Conventional
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Listed by Keller Williams Paint Creek
Nearby Locations
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Christopher Parker
Broker Associate License ID: 164141; 6506049280
Broker Associate License ID: 164141; 6506049280