Detroit, MI 48228,15801 W WARREN Avenue

$190,000

$219,000

13.2%
Est.Price: ?

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Est. payment /mo

2,500 SqFt


SOLD DATE : 04/18/2024

Key Details

Sold Price $190,000

Property Type Commercial

Sub Type Real Estate Only

Listing Status Sold

Purchase Type For Sale

Square Footage 2,500 sqft

Price per Sqft $76

Subdivision Hellner Estates (Plats)

MLS Listing ID 20240001213

Sold Date 04/18/24

Originating Board Realcomp II Ltd

Year Built 1952

Annual Tax Amount $2,530

Lot Size 2,178 Sqft

Acres 0.05

Lot Dimensions 22.00 x 100.00

Property Description

Welcome to this versatile mixed-use commercial property located in a W Warren . This property seamlessly combines the convenience of retail space with the comfort of residential living. The ground floor houses a thriving appliance store, offering a diverse range of home appliances and generating a steady monthly lease income of $1,600.

The strategic location ensures a steady flow of foot traffic, contributing to the store's success and stability.

On the upper floors of the property, there are two residential units that add to the property's overall value. The first unit generates $800 in monthly rental income, providing a cozy and private living space. The second unit, also upstairs, generates $500 monthly which can easily be leased out to 800 as well and offers an affordable housing option in this vibrant neighborhood.

The mixed-use nature of this property presents a unique investment opportunity, allowing the owner to diversify income streams and benefit from both commercial and residential markets. With a total monthly income of $2,900, this property promises a sound return on investment and the potential for future growth in a dynamic and thriving community.

Location

State MI

County Wayne

Area Det - Joy-Dbn Ht Grnfld-Limits

Zoning Commercial

Direction Drive East on west warren past Southfield freeway and location should be on the right on Forrer and W Warren Ave

Exterior

Pool No

Waterfront no

Road Frontage Paved

Building

Sewer Public Sewer (Sewer-Sanitary)

Water Public (Municipal)

Level or Stories 1 Story

Structure Type Brick

Schools

School District Detroit

Others

Tax ID W22I000076S

Ownership Short Sale - No,Private Owned

Assessment Amount $450

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Financing Cash,Conventional

Special Listing Condition Full Service

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Realcomp MLS
Listed by Simon & Associates Real Estate
Bought with EXP Realty LLC
agent-avatar

+1(248) 550-1101

brett@brettsmithrealty.com

28780 John R Rd, Madison Heights, MI, 48071, USA

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