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Julius Harris

julius.harris@exprealty.com +1(248) 910-9991

$ 179,500

Est. payment | -/mo

2 Baths

2,321 SqFt

Save

$ 179,500

Est. payment | -/mo

Save

2 Baths

2,321 SqFt

Key Details

Property Type Multi-Family

Sub Type MultiFamily

Listing Status Active

Purchase Type For Sale

Square Footage 2,321 sqft

Price per Sqft $77

Subdivision Santa Maria Park Sub

MLS Listing ID 20261041442

Style Colonial

Full Baths 2

Year Built 1928

Lot Size 4,791 Sqft

Acres 0.11

Property Sub-Type MultiFamily

Property Description

SHOWN UPON ACCEPTED OFFER ONLY. Solid brick 2-unit duplex, fully leased and professionally managed. One unit is 3 bed/1 bath, the other 2 bed/1 bath, plus basement. Rents today total $1,649/mo, well below market. At market rent of approx $1,200/unit, the projected cap rate is approx 6.5% (est. after actual taxes of $8,286/yr, 10% vacancy, 10% management, insurance and reserves; buyer to verify). Lower unit is month to month and can go to market now; upper lease ends 4/30/27. Newer furnaces, updated PEX plumbing and updated electrical. City of Detroit Certificate of Compliance on file through 08/01/2029, so no city compliance work needed for years. Leases and ledgers provided after accepted offer. Cash or conventional only. *Do not disturb tenants. Do NOT email offers; offer instructions and submission link are in ShowingTime and agent remarks.

Location

State MI

County Wayne

Area Area05041Det68Grflddequindre

Rooms

Basement Unfinished

Interior

Heating Forced Air, Natural Gas

Fireplace No

Exterior

Pool None

View Y/N No

Garage false

Building

Foundation Basement, Block

Sewer Public Sewer

Water Public

New Construction No

Schools

School District Detroit

Others

Senior Community false

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Special Listing Condition CorporateRelocation, ShortSaleNo

Pets Allowed Size Limit

Listed by Carlo Gobba of EXP Realty Main

Nearby Locations

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(248) 910-9991

julius.harris@exprealty.com

39555 Orchard Hill Place, Suite 600, Novi, Michigan 48375

17328 Indiana ST Detroit, MI 48221