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Erin Raetz

erin@raetzteam.com +1(586) 996-8410

$549,900

16 Baths

10,944 SqFt

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UPDATED:

Key Details

Property Type Multi-Family

Sub Type MultiFamily

Listing Status Active

Purchase Type For Rent

Square Footage 10,944 sqft

Subdivision Hendries (Plats)

MLS Listing ID 20251033366

Style Common Entry Building,Other

Full Baths 16

Year Built 1925

Lot Size 10,018 Sqft

Acres 0.23

Property Sub-Type MultiFamily

Property Description

**INVESTORS** This is your opportunity to add an updated 16 unit brick apartment building to your portfolio! The property has 7 of the 16 units occupied! The property was significantly updated in 2022, with updates including all-new windows, a new roof, 2 new boilers and HWTs, some updated electrical and plumbing, 5 of the 16 units were completely remodeled w/ updated kitchens and bathrooms, and the remaining 11 have had rental turnovers completed! Best of all, this is both a turn-key and value add property, as the front half of the basement has space to add 4 units and has been gutted in preparation for the new owner to begin the work. Each unit's electricity and cooking gas are metered separately while the owner pays for heating, common area electric, and water. The property is also located a few blocks away from Chrysler/Stellantis's new auto manufacturing plant which is expected to have a positive economic impact on the surrounding areas. Transfers will be subject to reporting when buyers use entities or trusts to take title to residential real estate, when the transaction is all-cash, privately financed, or HELOC.

Location

State MI

County Wayne

Area Area05066Detmcclellaneastmacktoshore

Rooms

Basement Common, Unfinished

Interior

Heating Natural Gas, Radiant, Steam

Fireplace No

Laundry LaundryRoom

Exterior

Parking Features OnStreet, Unassigned

Pool None

Utilities Available CableAvailable

View Y/N No

Roof Type Asphalt, Other

Garage false

Building

Foundation Basement, BrickMortar

Sewer Public Sewer

Water Public

New Construction No

Schools

School District Detroit

Others

Senior Community false

Acceptable Financing Cash, Conventional, WarrantyDeed

Listing Terms Cash, Conventional, WarrantyDeed

Special Listing Condition ShortSaleNo, Standard

Pets Allowed No

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Listed by Ryan E Kain of RE/MAX Leading Edge

Nearby Locations

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Erin Raetz

+1(586) 996-8410

3550 Montclair ST Detroit, MI 48214

Erin Raetz

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

Nearby Locations

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