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16 Unit Multifamily- 2630 Richton Street, Detroit, MI 48206 - Deal Available

Multifamily Investment Opportunity






Acquisition Price

$790,000


16 Bedrooms - 16 Bathrooms - 11,412 SF

(All 1bd/1ba units)


Great opportunity to invest in the up and coming Detroit market. This property is a solid brick built multifamily structure with loads of potential. Rents range from $725-$800 per unit | Full remodel in 2019 | 6 Section 8 Units as of January 2021. Financials only show 4 |Please see attachment for financials and scope of completed work.


NOI: $86,671

Asking: $790k Cash or Conventional Financing

Terms of Offer: - Cash or Conventional Financing - Must be able to close within 45 days or less. - Buyer and seller will pay their own closing costs - Taxes prorated at 100% - Clear title (Speedy Title & Escrow Services LLC) guaranteed at closing otherwise EMD will be refunded. - 5% EMD required to secure assignment contract.


Financials:







Photos:

https://www.dropbox.com/sh/3nwj4gdg1u9sxce/AACWPNQEg3TEn3gI6GuasXxPa?dl=0





"Invest Wisely"





PROMISE LAND REALTY, LLC

Work: 313-307-6616

sarter@promiselandrealtyllc.com

www.promiselandrealtyllc.com


All Off Market Properties are Sold As-Is. Buyer must do their due diligence. Sold on Warranty deed. We are selling our assignable interest. Proof Of Funds is required with all offers. Earnest Money Deposit due within 48 hours of accepted offer. Closings are done quickly and with a title company/closing attorney. *Realtors add your fee on top*

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