$178,500
$175,000
2.0%For more information regarding the value of a property, please contact us for a free consultation.
2 Beds
2 Baths
2,558 SqFt
SOLD DATE : 03/14/2024
Key Details
Sold Price $178,500
Property Type Multi-Family
Sub Type Other
Listing Status Sold
Purchase Type For Sale
Square Footage 2,558 sqft
Price per Sqft $69
Subdivision More Than One Subdivision Involved
MLS Listing ID 20230087719
Sold Date 03/14/24
Style Other
Bedrooms 2
Full Baths 2
Originating Board Realcomp II Ltd
Year Built 1924
Annual Tax Amount $2,009
Lot Size 3,920 Sqft
Acres 0.09
Lot Dimensions 35.00 x 120.00
Property Description
LOCATED 6 MINUTES FROM HISTORIC BOSTON EDISON DISTRICT YOU WILL FIND 5061 HILLSBORO NESTLED ON A 3,920 SQUARE FOOT LOT IN A QUIET NEIGHBORHOOD OF HOMEOWNERS. THIS CROWN JEWEL BOAST TWO 3 BEDROOM UNITS. SHE HAS BEEN CAREFULLY UPGRADED WITH 2 NEWLY INSTALLED FURNACES AND HOT WATER TANKS. IN ADDITION, THIS HOME DISPLAYS ALL NEW ELECTRICAL AND PLUMBING TO INSURE MAINTENANCE FREE CASH FLOW. THIS BEAUTY HAS JUST BEEN LEASED WITH 2 SECTION 8 TENANTS AND THE MONTHLY DIVIDENDS ARE JUST SHY OF $3000. ALSO, THE WHOPPING RENTS OF $1542 AND $1410 ARE PAID IN FULL BY THE FEDERAL GOVERNMENT. THESE TENANTS PAYS ALL THE UTILITIES WHICH ALLOWS THIS INVESTMENT TO PAY A RETURN OF JUST UNDER 20%. THE TAXES HAVE BEEN REDUCED TO ROUGHLY $150 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 South Of Grand River
Zoning Multi-Family
Direction Hillsboro & Beachwood
Rooms
Basement Unfinished
Interior
Heating Hot Water
Fireplace no
Heat Source Natural Gas
Exterior
Garage Spaces 1.0
Pool No
Waterfront no
Road Frontage Paved
Garage yes
Building
Foundation Basement
Sewer Sewer at Street
Water Water at Street
Architectural Style Other
Level or Stories 2 Story
Structure Type Brick
Schools
School District Detroit
Others
Pets Allowed Yes
Tax ID W16I003840S
Ownership Short Sale - No,Private Owned
Assessment Amount $340
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing Cash,Conventional
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Bought with Keller Williams Somerset