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INVESTOR SPECIAL! 20 Unit Apartment Building – Proforma Gross Rental $126k

18230 Weaver St, Detroit, MI 48228, USA
$550,000

Description

INVESTOR SPECIAL! This is the only building of its kind. Due to be fully renovated in 2019, fully occupied by summer 2019. Units have individual furnaces and electric water heater and all utilities metered off to tenant. Landlord only pays for water.

This building is a bonafide cash cow!! Attached is a video of property from 2016.

This 20 unit apartment building consisting of 20 x 1 bed / 1 bath. The building consists of 3 storeys. First and second storeys have 12 units a further 8 units all located on the lower floor. The building is located off Southfield Fwy in the Franklin Park neighbourhood in North West Detroit.

General Features

  • Wayne County
  • Detroit City
  • Subdivision EMERSON PARK (PLATS)
  • Commercial Type Apartments, Commercial
  • Business Type Residential
  • Current Use Multi-family income property
  • Lot Size Area 0.53
  • Zoning Commercial
  • Ownership Status Private Owned, Short Sale – No
  • Year Built 1969
  • Year Remodeled 2015
  • Sqft Total 11,520
  • Number Of Units Total 17
  • Net Operating Income $101,700
  • Gross Scheduled Income $112,200
  • Tax Amount – Summer $1,900
  • Tax Amount – Winter $230

Building Features

  • Foundation Details Basement
  • Construction Materials Brick
  • Sqft Office 675
  • Heating Fuel Electric
  • Unit One Bed Number Of 17
  • Water Heater Fuel Electric

Property Features

  • Road Frontage Type Paved, Pub. Sidewalk
  • Frontage Feet 100
  • Distance To Airport 18
  • Distance To Interstate 1
  • Lot Size Dimensions 200 X 600
  • Water Source Municipal Water
  • Sewer Sewer at Street, Sewer-Sanitary

Schools

  • School District Detroit
  • Address: 18230 Weaver St, Detroit, MI 48228, USA
  • City: Detroit
  • State/county: Michigan
  • Zip/Postal Code: 48228
  • Neighborhood: Franklin Park
  • Country: United States

Detail

Updated on March 21, 2019 at 6:06 pm

  • Price: $550,000
  • Property Size: 11000 sqft
  • Year Built: 1969
  • Property Type: Apartment Buildings for sale
  • Property Status: For Sale

Video

Contact info

EHG Group
EHG Group
(248) 825 6590
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