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$480,000
12 Baths 20230074537 MLS
THIS FANTASTIC OPPORTUNITY WILL NOT LAST, FOLKS!! A TRUE 10.5 CAP RATE WITH POTENTIAL PROJECTED 16.7 WITH RENTAL INCREASE THIS YEAR!!! THIS SUPER GARDEN/LOW RISE APARTMENT COMPLEX HAS 12 RANCH STYLE UNITS WITH PRIVATE ENTRY. TENANTS PAY ALL UTILITIES EXC WATER/SEWER, SNOW/LAWN AND GARBAGE. 6 UNITS HAVE SEPARATE BD/500 SQ FT AND 6 LARGE EFFICIENCIES.FURTHER, THERE IS A LARGE PARKING LOT AND SEPARATE METERS/ BLDGS HAVE CONDO STYLE AND POTENTIAL IMMEDIATE INCOME WITH A CONDO CONVERSION ( CONDOS SELLING AT APROX 64K PER UNIT!) WARREN CITY BORDER PROPERTY HERE! BEAUTIFUL AND DESIRABLE!! OCCUPANCY AT 95% CURRENTY AND AVG 100% WITH MANY LONG TERM TENANTS! FUSSY OWNER HAS A VERY LONG WAITING LIST! THIS IS A BANK FORECLOSURE, OTHERWISE WOULD NEVER CONSIDER THE SALE OF THIS MONEY MAKING COMPLEX SO HURRY WE LOOK FORWARD AND STAND READY!!! PLEASE BE DISCREET-TENANTS ARE NOT AWARE OF SALE. FURTHER, WE OFFER ANOTHER 2 BLDGS AND ARE ABLE TO DO A PKG DEAL FOR YOU. PLEASE CALL FOR DETAILS!

18501-18515 Hoover St, Detroit

Courtesy of First Michigan Realty Corp 5869451789

Selling Office: First Michigan Realty Corp.

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