$440,000
$449,500
2.1%For more information regarding the value of a property, please contact us for a free consultation.
16085 E 7 MILE RD Detroit, MI 48205
10 Beds
8,694 SqFt
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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Bought with Century 21 Curran & Oberski