19143 Berg Rd, Detroit, MI 48219
- $1,760,000
- 48
- BA
- 39,816
- SqFt
- Sold Price
- $1,760,000
- List Price
- $1,799,900
- Closing Date
- Mar 21, 2025
- MLS#
- 20240042177
- Status
- CLOSED
- Bathrooms
- 48
- Half-baths
- 8
- Subdivision
- MORE THAN ONE LEGAL INVOLVED
Property Description
Lucrative Investment Opportunity: Well-Established 40-Unit Apartment Building! *Call for Offers for Monday July 1st at 3 pm.* Seeking a stable and profitable investment? Look no further than this exceptional 40-unit apartment complex located in Detroit. The property boasts a strong rental history and excellent income potential. Currently generating a gross annual income of approximately $324,000 with a projected Net Operating Income (NOI) of $227,000 for 2024, this investment offers proven performance. There's also significant value-add opportunity: reach full capacity and unlock even greater income. Projected gross income upon full occupancy is $432,000. The complex caters to a wide range of renters with a diverse unit mix of spacious 2-bedroom townhouses (8 units), regular 2-bedroom units (8 units), and efficient 1-bedroom units (24 units). Landlord currently covers water, gas, and electric. Don't miss out on this income-generating gem! Showings require advanced notice to respect current tenants. Contact us today to schedule a showing and learn more about this opportunity in a desirable location. Proof of funds and/or financing is required to schedule a showing.
Additional Information
- Year Built
- 1963
- Basement Type
- Common, Unfinished
- Acres
- 1.26
- Style
- Common Entry Building
- Acres
- 1.26
- School District
- Detroit
- Cooling
- Window/Wall
- Heating
- Baseboard, Natural Gas, Steam
- Garage Description
- Parking Lot, Paved
Mortgage Calculator
Courtesy of EXP Realty Main 8885017085
Selling Office: EXP Realty Main.
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