$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 Sub-Type Colonial
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
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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