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Buy&Hold (MULTIFAMILY): (26 Units) 2750 STURTEVANT ST, DETROIT, MI 48206 + AVAILABLE

Multifamily Investment Opportunity









Price

$295,000


Exclusive Off-Market Opportunity: Prime Detroit Multi-Family Investment


Property Overview:

  • Address: 2750 Sturtevant, Detroit, MI 48206

  • Units: 26 (25 two-bedroom units, 1 three-bedroom unit)

  • Square Footage: 22,905

  • Property Type: Multi-family (Apartment)





Financial Highlights:

  • Estimated Gross Monthly Rent: $24,950 ($299,400 annually)

  • Two-bedroom units: $950/month

  • Three-bedroom unit: $1,200/month

  • Net Operating Income (NOI): $149,700

  • Cap Rate: 8%

  • Asking Price: $295,000

  • Price Per Unit: $11,538.46

  • ARV (After Repair Value): $1,871,250

  • Estimated Rehab Costs: $300,000 - $500,000, varying by desired upgrades


Property Features:

  • Occupancy: Vacant, offering a blank canvas for the visionary investor

  • Exterior: Classic brick facade

  • Improvements: Includes emergency but permanent roof repair, extensive clean-out, electrical and plumbing permits for phase one, water line connection, and more. Building permits submitted and under review; drawings 80% complete.


Investment Potential: This property presents a unique opportunity to capitalize on Detroit's vibrant rental market. With a solid cap rate and significant upside potential post-rehab, it stands as an enticing proposition for investors looking to expand or enter the Detroit real estate scene.


Additional Resources:


For a detailed discussion on this investment and to submit offers, please contact us directly at investments@promiselandrealtyllc.com. Seize the opportunity to own a piece of Detroit's resurgence with this promising apartment complex.




"YOUR #1 SOURCE FOR OFF MARKET INVESTMENT PROPERTIES, NATIONWIDE"




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. You do NOT HAVE PERMISSION to market this property WITHOUT EXPRESSED WRITTEN CONSENT. 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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