Multifamily Investment Opportunity
Acquisition Price
$588,000
($21K / per door)
28 UNIT MULTIFAMILY APARTMENT BLDG
34 Bedrooms 30.5 Bathrooms 29,602 SF
(5 Studio Units) (19 - 1bedroom Units) (5 - 2 bedroom Units)
Great Opportunity to invest in a multifamily property with value add potential on the Westside of the City Of Detroit. This property is an absolute gem just waiting to happen. It is a 4 Story structure with historical architecture designed by Jacob I. Weinberg. It is in need of a full renovation but already has a new roof, hardwood floors in all units, electric meters installed, and an elevator. Building is currently vacant.
HUD Fair Market Rental Rates:
(5) Studio @ $630/month = $3,150 per month
(19) 1 Bedroom @ 740/month = $14,060 per month
(5) 2 Bedroom @ 950/month = $4,750 per month
Gross Potential Monthly Rental Income: $21,960 per month / $263,520 per year
Please submit all offers with Proof Of Funds included to sarter@promiselandrealtyllc.com
PROPERTY PHOTOS: https://photos.app.goo.gl/D2kYTnsBxfEDpRET6
PROPERTY MAP:
Property Comps Report
"Brick by Brick"
PROMISE LAND REALTY, LLC
Work: 864-762-2509
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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