Detroit, MI 48205,16085 E 7 MILE RD

$440,000

Est. payment /mo

$449,500

2.1%
Est.Price: ?

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16085 E 7 MILE RD Detroit, MI 48205

10 Beds

8,694 SqFt

SOLD DATE : 07/19/2019

Key Details

Sold Price $440,000

Property Type Commercial

Sub Type Commercial

Listing Status Sold

Purchase Type For Sale

Square Footage 8,694 sqft

Price per Sqft $50

Subdivision Avalon Heights (Plats)

MLS Listing ID 219033031

Bedrooms 10

Year Built 1947

Annual Tax Amount $4,570

Lot Size 0.440 Acres

Property Description

EXCELLENT 10 UNIT INCOME PRODUCING TURN-KEY PROPERTY 100% SECTION 8 OCCUPIED. START MAKING MONEY THE MINUTE YOU CLOSE. MOST TENANTS HAVE BEEN IN THE UNITS ON AVERAGE OF 3-5 YEARS. NEWER WINDOWS, GUTTERS, HEATING, PLUMBING AND ELECTRICAL. TAXES HAVE BEEN APPEALED AND ARE LESS THAN $4,500 ANNUALLY. NOWHERE ELSE CAN YOU PAY LESS THAN $45,000 PER DOOR AND PRODUCE $750 IN RENTAL INCOME PER MONTH (MULTIPLIED BY 10 DOORS OR UNITS). THIS BUILDING IS A NO-BRAINER FOR ANY INVESTOR LOOKING TO COLLECT THAT STEADY CASH FLOW MONTH OVER MONTH. CALL AGENT FOR A LIST OF 3 OTHER GREAT PROPERTIES ALSO FOR SALE BY THE SAME SELLER.

Location

State MI

County Wayne

Area Det 8 To Gratiot/Houston To 7

Zoning Commercial

Interior

Heating Forced Air

Exterior

Roof Type Asphalt

Building

Foundation Basement

Sewer Sewer-Sanitary

Water Municipal Water

Structure Type Brick

Schools

School District Detroit

Others

Acceptable Financing Cash, Land Contract

Listing Terms Cash, Land Contract

Special Listing Condition Full Service

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Realcomp MLS
Listed by Alex H Saad of Century 21 Curran & Oberski
Bought with Century 21 Curran & Oberski
agent

Charles Laird

Broker Associate | License ID: 6502364516

+1(248) 431-0544

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