MLS Public Remarks **RARE OPPORTUNITY** Investors, here is your chance to add a truly turn-key apartment building to your portfolio! The property features 13 units (9 one-bedroom and 4 studio units) with space to add a 14th unit in the basement! 10 of the units are currently occupied and generating $6,275/month in rental income, and would generate $8,500/month when fully occupied. Rents are being raised to $700/month for 1 bedrooms & $550/month for studios on 1/1/2024 and tenants have been notified. The property has been completely rehabbed and features vinyl windows, updated kitchens and bathrooms in the units, PEX plumbing, separately metered electric heating, and much more! The property also has its RENTAL CERTIFICATION, which is valid through 10/21/2025! The fenced parking lot out back is included in the sale. Located in NW Detroit, just outside the Grandmont-Rosedale neighborhood and north of the Grand River corridor. Most of the tenants are long-term, low-maintenance, and want to stay!
http://www.www.johnstoneandjohnstone.com.com/20230096345
Township Detroit
Directions From Fenkell, Turn South On Greenfield
Fin Below Grd SqFt 0
Total Fin SqFt 7,920
Price/SqFt $95
Unfinished SqFt 0
Above Grade Finished SqFt 7,920
CDOM 178
Comm. Office Space 0
Sub Property Type Commercial
Year Built 1962
Days on Market 178
Land Assessment -
Improvements $749900
Net Taxes $13414
Acreage 0.19
Taxes -
Tax Year -
Summer Taxes $11648
School District Detroit
Winter Taxes $1766
Subdivision Avon Park Sub (plats)
Lower Level Square Footage 0
Waterview N
Waterfront N
For Lease/Rent N
Est. Total Acres 0.19
Lot Dimensions 74.00 x 110.00
WaterFrontage
0
Heating Baseboard, Electric
Water Public (Municipal), Water at Street
Zoning Commercial
Heating Baseboard, Electric
Garage 0.0
Architecture 2 Story
Sewer Public Sewer (Sewer-Sanitary), Sewer at Street
Possession Subject To Tena
Exterior Materials Brick
Status Change Date 11/13/2023
Listing Date 11/13/2023
Internet/IDX Y
Listing Office
Re/Max Leading Edge
Office Address
7500 N Canton Center
Listing Number
20230096345
THE ACCURACY OF ALL INFORMATION, REGARDLESS OF SOURCE, IS NOT GUARANTEED OR WARRANTED. ALL INFORMATION SHOULD BE INDEPENDENTLY VERIFIED. Listings last updated: Friday, May 10, 2024. Some properties that appear for sale on this web site may subsequently have been sold and may no longer be available. The data relating to real estate for sale on this web site appears in part from the IDX programs of our Multiple Listing Service. Real Estate listings held by brokerage firms other than Real Estate One include the name and address of the listing broker where available.
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