Updated: May 22, 2022
Single Family Investment Portfolio
Estimated CapEx : 250k |
135k+ Stabilized NOI
17 Single-Family Homes | 59% Occupancy |
Great opportunity to build your portfolio with the cash flowing single family rental pack in the City Of Detroit. The value add here lies in the fact that these properties are currently leased under market rent. The portfolio consists of Six (6) properties located on the east side of Detroit. Two (2) are in newly appreciating neighborhoods bordering the popular neighborhoods of Harper Woods, Grosse Pointe, and East English Village.
The other four (4) are centralized just south of Warren, Michigan at the busy Mound Eight Mile juncture. Businesses and retail encompass this area along Eight Mile, Farwell Recreation Athletic Center, Dorais Playground, Chase Bank, Dollar Tree, Tim Hortons, and the Michigan Light Guard Armory. Great jobs are consistently available in the area supplied by the FCA Warren Truck Assembly and other suppliers.
Eleven (11) of the properties are located on the west side of Detroit. Five (5) of these are within 1 mile of the developing McNichols District with activity such as Marygrove College’s new campus development-conservancy, a new 120- unit senior housing complex development, bright clean-up efforts, the Northwest Community Center, and an existing senior housing campus on Meyers Rd, which helped to stabilize the neighborhood originally. Samuel Mumford High School is nearby, and Adams Butzel Recreational Complex Arena is well kept and services the neighborhood community. The remaining four (4) homes are located south of busy Grand River Ave, near schools, retail, and the Tenth District Police Precinct. Ownership has made several improvements to the properties. Five (5) need lighter work to get rent ready.
Please submit all offers directly to email@example.com
Offer Deadline: 6/14/2022 @ 11:59 pm
Current Rent Roll
Map Of Properties
"Brick by Brick"
PROMISE LAND REALTY, LLC
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*