Single Family Investment Opportunity
Price
$1,640,000
11-Home Macomb County Value-Add Turnkey Investment Package
This package includes 11 single-family homes located in desirable Macomb County, Michigan, each offering significant investment potential. These properties have been owned for several years by the current owner, who initially acquired them at low prices. Over time, the homes have been well-maintained and each property is rental certified, ensuring they are in good condition and ready for long-term rental income. The Owner is ready to relocate to the South as he is getting older and tired of the harsh Michigan winters.
Key Features:
Fully Tenant-Occupied: Many of the homes have long-term tenants who have remained due to the affordable rents they’ve enjoyed.
Rental Income Upside: Current rents are below market, providing the opportunity for a new owner to significantly increase cash flow by adjusting rents to current market rates.
Exceptional Cash Flow Potential: Once rents are brought to market levels, this package will generate exceptional cash flow, offering a strong return on investment.
Turnkey Condition: All homes are ready to continue generating income immediately, making this a low-risk, high-reward investment.
Property Addresses & Current Monthly Rental Income:
25628 Packard St, Roseville, MI 48066 – $1,200/month
20016 Rosedale St, St. Clair Shores, MI 48080 – $1,025/month
23204 Allor St, St. Clair Shores, MI 48082 – $925/month
23000 Maxine St, St. Clair Shores, MI 48080 – $1,175/month
2147 E 8 Mile Rd, Grosse Pointe Woods, MI 48236 – $1,200/month
22908 California St, St. Clair Shores, MI 48080 – $875/month
19813 Rosedale St, St. Clair Shores, MI 48080 – $925/month
25328 Blair St, Roseville, MI 48066 – $1,000/month
19820 Avalon St, St. Clair Shores, MI 48080 – $925/month
15304 Evergreen Ave, Eastpointe, MI 48021 – $875/month
21723 Gascony Ave, Eastpointe, MI 48021 – $875/month
Financial Overview:
Purchase Price: $1,640,000
Potential for Short-Term Land Contract: The seller is open to offering short-term land contract terms with a solid down payment (25-30% or more).
Refinancing Opportunity: After adjusting rents to market levels, the entire package can be refinanced, potentially allowing for a substantial portion of the down payment to be returned.
Property Highlights (see attached spreadsheet for more detailed information):
Total Gross Income: $144,000 annually (projected after rent increases).
Market ARV across the package: Estimated at $1,930,000.
Current NOI: $120,440.
Market NOI: $156,440 (after rent adjustments).
Terms and Conditions:
Proof of Funds (POF) is required for any showings or offers.
All offers must be submitted directly to investments@promiselandrealtyllc.com.
Please note, this package is available exclusively to verified members of the TEAM PROMISELAND Joint Venture Program. Non-circumvention terms apply, and marketing is restricted unless you are a verified member. For more details on membership, please visit our website.
Property Map
"AMERICA'S #1 SOURCE FOR OFF MARKET PROPERTIES"
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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