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Buy&Hold (Multifamily): (14 Units) 3011 Kendall St., Detroit, MI 48238 - Pending

Updated: Dec 27, 2022

Multifamily Investment Opportunity






Price

$880,000


14 Units - 10.7% CAP RATE - $10,752/monthly rent


Great opportunity to invest in a performing multifamily property in the City Of Detroit. This property is currently in good condition and 100% tenant occupied with a yearly rental income of $129,024. Value add lies in cosmetic updates and rent increases. Please submit all offers directly to sarter@promiselandrealtyllc.com.


Rental Income Breakdown

Unit 1 $768.00

Unit 2 $870.00

Unit 3 $700.00

Unit 4 $700.00

Unit 5 $700.00

Unit 6 $700.00

Unit 7 $870.00

Unit 8 $768.00

Unit 9 $700.00

Unit 10 $768.00

Unit 11 $768.00

Unit 12 $870.00

Unit 13 $700.00

Unit 14 $870.00


Yearly Rental Income :$129,024.00


Expenses

Water/Sewer : $4,005.24

DTE Gas : $1,774.08

DTE Electric : $299.04

Lawn : $3,000.00

Snow (Seasonal) : $1,400.00

Property Tax : $10,204.00

Insurance : $4,270.00

Property Mgmt: 8% / $10,321.92


Total Expenses Yearly: $35,274.28


NET OPERATING INCOME: $93,749.72


Property Map



"Your #1 Source for Off Market Investment Properties, NATIONWIDE"




PROMISE LAND REALTY, LLC

Work: 864-762-2509

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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