Thank you
Ishma D Best
Prep Realty
313-355-3004
Welcome to your next investment opportunity in the heart of Southwest Detroit! This 10-unit building is a beacon of potential, boasting numerous features that make it a lucrative addition to your portfolio.The upgraded units in this building command top dollar, with rents reaching up to $1,200 per month. This means a potential annual income of around $140,000 when all units are fully upgraded.Southwest Detroit is experiencing rapid appreciation, making this property an even more attractive investment. The neighboring $4.4BN Gordie Howe Bridge development is scheduled to complete next year. Its surrounding areas have seen significant development, making it an exciting time to invest in this community.Each unit in this building is individually metered, ensuring that tenants are responsible for their utility costs, simplifying property management for you and increasing your return on investment.Tenants will appreciate the convenience of air conditioning in every unit, enhancing their living experience and allowing you to command premium rents.Just a quick drive away, Downtown Detroit is less than 10 minutes from this property, offering residents access to employment centers, dining, and entertainment options. Nearby Michigan Central Station Development in CorktownWith its proximity to the nearly $1BN Michigan central station development in Corktown, this property is strategically positioned to benefit from ongoing urban revitalization and increased demand for housing in the area.This stabilized 10-unit building is a rare gem for savvy investors, combining attractive rental income potential with a prime location in a neighborhood poised for substantial growth. Don't miss out on this turn-key opportunity to secure significant cash flow and capitalize on the flourishing Southwest Detroit real estate market.Contact us today to schedule a viewing and seize this excellent investment before it's gone!
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Laundry Facility
Cooling: Central Air
Heating: Forced Air
Heating Fuel: Natural Gas
Year Built: 1923
Total Units: 10
Foundation/Basement: Michigan Basement
Sewer: Public Sewer (Sewer-Sanitary)
Public (Municipal),Water at Street
Lot Size: 0.17
Lot Dimensions: 60.00 x 123.00
Frontage Feet: 123
Subdivision: WALTER CRANE FARM (PLATS)
Financing: Cash,Conventional
Original List Price: $849,000
Possession: At Close
Legal Description: S TOLEDO 1166&1167 E 10 FT 1168 SUB OF WALTER CRANE FARM L5 P29 PLATS, W C R 16/9 60 X 123
Annual Tax: $16,602
Parcel Number: 16000988
At Close
Legal Description: Section: S TOLEDO 1166&1167 E 10 FT 1168 SUB OF WALTER CRANE FARM L5 P29 PLATS, W C R 16/9 60 X 123
Road Frontage: Paved
# of Bedrooms: 2
School District: Detroit
Water:Public (Municipal),Water at Street
Sewer:Public Sewer (Sewer-Sanitary)
Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
---|---|---|---|---|---|
1943 Central Street , Detroit, MI,48209 | $139,900 | 6 | 2 | 2,200 | 0.04 Acre |
2782 Inglis Street , Detroit, MI,48209 | $12,500 | -- | -- | -- | 0.07 Acre |
8349 Senator Street , Detroit, MI,48209 | $149,900 | 4 | 2 | 1,426 | 0.06 Acre |
1401 Mckinstry Street , Detroit, MI,48209 | $49,900 | -- | -- | -- | 0.05 Acre |
1761 Infantry Street , Detroit, MI,48209 | $9,990 | -- | -- | -- | 0.1 Acre |
7101 Dix Street , Detroit, MI,48209 | $300,000 | -- | -- | -- | 0.25 Acre |
8412 Vanderbilt Street , Detroit, MI,48209 | $24,900 | -- | -- | -- | 0.09 Acre |
1610 Military Street, Detroit, MI,48209 | $11,000 | -- | -- | -- | 0.2 Acre |
8028 Cahalan Street, Detroit, MI,48209 | $70,000 | -- | -- | -- | 0.07 Acre |
1809 Central Street , Detroit, MI,48209 | $149,900 | 6 | 3 | 2,600 | 0.08 Acre |
Disclosure: The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. Any use of search facilities of data on the site, other than by a consumer looking to purchase real estate, is prohibited. IDX provided courtesy of Realcomp II Ltd., via ByOwner.com and REALCOMP, Copyright 2024 Realcomp II Ltd. Shareholders. REALTOR (R) licensed in the state of Michigan. The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed and to participants of any data share partner MLS.
ByOwner last updated this listing 05/10/2024 @ 12:08
MLS: 599843320
LISTED BY: Ishma D Best , Prep Realty
SOURCE: Realcomp II Ltd
Buyer Agency Compensation: 2.50%
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.