$211,000
$229,900
8.2%For more information regarding the value of a property, please contact us for a free consultation.
4 Beds
4 Baths
2,880 SqFt
SOLD DATE : 10/04/2024
Key Details
Sold Price $211,000
Property Type Multi-Family
Sub Type Colonial
Listing Status Sold
Purchase Type For Sale
Square Footage 2,880 sqft
Price per Sqft $73
Subdivision Gratiot Highlands Sub (Plats)
MLS Listing ID 20240043565
Sold Date 10/04/24
Style Colonial
Bedrooms 4
Full Baths 4
Originating Board Realcomp II Ltd
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 Det 8 To Gratiot/Houston To 7
Zoning Multi-Family
Direction South of 6 Mile, East of Hoover
Rooms
Basement Unfinished
Interior
Heating Forced Air
Fireplace no
Heat Source Natural Gas
Exterior
Pool No
Waterfront no
Road Frontage Paved
Garage no
Building
Foundation Basement
Sewer Public Sewer (Sewer-Sanitary)
Water Public (Municipal)
Architectural Style Colonial
Level or Stories 2 Story
Structure Type Brick
Schools
School District Airport
Others
Pets Allowed No
Tax ID 21033028.
Ownership Short Sale - No,Private Owned
Acceptable Financing Cash, Contract, Conv. Blend Rt, Conventional, Covenant Deed, FHA, Owner May Carry(Purchase Money Mortgage), Quit Claims Deed, Trade/Exchange, Warranty Deed
Rebuilt Year 1929
Listing Terms Cash, Contract, Conv. Blend Rt, Conventional, Covenant Deed, FHA, Owner May Carry(Purchase Money Mortgage), Quit Claims Deed, Trade/Exchange, Warranty Deed
Financing Cash,Contract,Conv. Blend Rt,Conventional,Covenant Deed,FHA,Owner May Carry(Purchase Money Mortgage),Quit Claims Deed,Trade/Exchange,Warranty Deed
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Bought with EXP Realty LLC