Description
**RARE OPPORTUNITY** Investors, here is your chance to add a truly turn-key apartment building to your portfolio! The property features 13 units (9 one-bedroom and 4 studio units) with space to add a 14th unit in the basement! 10 of the units are currently occupied and generating $6,275/month in rental income, and would generate $8,500/month when fully occupied. Rents are being raised to $700/month for 1 bedrooms & $550/month for studios on 1/1/2024 and tenants have been notified. The property has been completely rehabbed and features vinyl windows, updated kitchens and bathrooms in the units, PEX plumbing, separately metered electric heating, and much more! The property also has its RENTAL CERTIFICATION, which is valid through 10/21/2025! The fenced parking lot out back is included in the sale. Located in NW Detroit, just outside the Grandmont-Rosedale neighborhood and north of the Grand River corridor. Most of the tenants are long-term, low-maintenance, and want to stay!
Location
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Copyright MiRealSource. All rights reserved. The information provided hereby constitutes proprietary information of MiRealSource, Inc. and its shareholders, affiliates, and licensees and may not be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording, scanning, or any information storage and retrieval system, without written
permission from MiRealSource, Inc. Updated: 19th May, 2024 7:10 PM (UTC)
Copyright MiRealSource. All rights reserved. The information provided hereby constitutes proprietary information of MiRealSource, Inc. and its shareholders, affiliates, and licensees and may not be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording, scanning, or any information storage and retrieval system, without written
permission from MiRealSource, Inc. Updated: 19th May, 2024 7:10 PM (UTC)
Listing Agent: Ryan Kain
Listing Office: RE/MAX Leading Edge
