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Key Details
Sold Price $211,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 20240043565
Sold Date 10/04/24
Originating Board Realcomp
Year Built 1929
Annual Tax Amount $955
Lot Size 3,920 Sqft
Acres 0.09
Lot Dimensions 40 x 101
Property Description
**INVESTORS!! Cash flowing turn-key investment property on Detroit's east side. Currently a 1BR/1BA per unit 4-plex, can be converted into a 7-unit for even larger ROI!! This is a PERFECT opportunity for new investors because the seller is providing many financing options to create a low to NO down payment acquisition! One unit rented; $650/mo; however, seller can reveal blueprints for a 2BR conversion plan which would raise the value of both building and rents. This opportunity is fantastic! Nearly turnkey - seller leaving 3 units vacant so buyer can choose final unit options before leasing. There is the option of adding 3 more basement units AND coin laundry - which would bring the property to 7 total units and giant ROI fueled by monthly rents of around $4,900!! You must come see and evaluate the potential!! This brick beauty has a newer roof, windows and major updates to attract clean, quality tenants. Close to major freeways, main roads, shopping and necessities. This won't last!!
Location
State MI
County Wayne
Area Wayne County - 100
Zoning Multi-Family
Direction South of 6 Mile, East of Hoover
Interior
Heating Forced Air
Exterior
Waterfront No
View Y/N No
Building
Sewer Public
Water Public
Structure Type Brick
Others
Tax ID 21033028.
Acceptable Financing Cash, Conventional, FHA, Contract
Listing Terms Cash, Conventional, FHA, Contract
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United Country Midwest Lifestyle Properties
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