$575,000
$575,000
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10 Beds
7,676 SqFt
SOLD DATE : 08/11/2023
Key Details
Sold Price $575,000
Property Type Commercial
Sub Type Apartments,Real Estate Only
Listing Status Sold
Purchase Type For Sale
Square Footage 7,676 sqft
Price per Sqft $74
Subdivision Robt Oakmans Livernois & Ford Hwy Sub (Plats)
MLS Listing ID 20230052808
Sold Date 08/11/23
Bedrooms 10
Originating Board Realcomp II Ltd
Year Built 1954
Annual Tax Amount $4,937
Lot Size 7,840 Sqft
Acres 0.18
Lot Dimensions 70.00 x 110.00
Property Description
HIGHEST AND BEST TUESDAY AT NOON. LOCATED 6 MINUTES FROM THE INFAMOUS BOSTON EDISON HISTORIC DISTRICT YOU WILL FIND 4234 WEST DAVISON NESTLED ON A 7,841 SQUARE FOOT LOT IN THE QUIET "OAKMAN BOULEVARD"NEIGHBORHOOD OF HOMEOWNERS. THIS CROWN JEWEL IS RECENTLY REMODELED AND BOAST 10 ONE BEDROOM APARTMENTS. SHE HAS BEEN CAREFULLY UPGRADED FROM THE BRAND NEW ROOF TEAR OFF DOWN TO EVERY INCH OF ELECTRICAL IN EACH UNIT. IN ADDITION, THIS BEAUTY HAS AN ENTIRE NEW HEATING SYSTEM AND PLUMBING TO INSURE MAINTENANCE FREE CASH FLOW. MOREOVER SHE HAS FRESHLY ROLLED PAINT AND BRAND NEW CARPET WITH TOP OF THE LINE UNDERLAYMENT. EVERY UNIT HAS BEEN RECENTLY RENTED TO SECTION 8 TENANTS, MOST ON A 2 YEAR LEASE. THE MONTHLY DIVIDENDS ARE JUST UNDER 10K AT $9,982 AND ARE PAID BY THE FEDERAL GOVERNMENT. THE TENANTS PAY ALL THE UTILITIES, WHICH ALLOWS THIS COMPLEX TO MAINTAIN JUST UNDER 20% CASH ON CASH RETURN. PROPERTY TAXES HAVE BEEN REDUCED TO ROUGHLY $500 PER MONTH. THIS DIAMOND WILL BE IN A LUCKY OWNER'S FINGERTIPS SOON! NO SHOWINGS WITHOUT ACCEPTED FULL LIST OFFER.
Location
State MI
County Wayne
Area Det: Livernois-I75 6-Gd River
Zoning Commercial
Direction W Davison & Petosky
Interior
Heat Source Natural Gas
Exterior
Pool No
Waterfront no
Road Frontage Paved
Building
Sewer Sewer at Street
Water Water at Street
Structure Type Brick
Schools
School District Detroit
Others
Tax ID W14I005470C1
Ownership Short Sale - No,Private Owned
Assessment Amount $1,600
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing Cash,Conventional
Special Listing Condition Full Service
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Bought with EXP Realty LLC