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About the Listing 16575 - 281311
Calling all investors! 16-unit apartment complex featuring all one-bedroom, one-bath units. Extensively updated with new plumbing, updated electrical, newer windows, and brand-new furnaces. Half the units offer electric baseboard heat, while the others have individual furnaces. Tenants pay gas and electric, keeping operating costs low. Units have been renovated with updated kitchens and baths, new flooring, fresh paint, and stainless steel appliances. 90%+ occupied and generating a strong 12% cap rate. Property has completed Step 1 of the Pilot Program, with seller working toward full approval with two steps remaining. Don’t miss this great investment opportunity!
Listing Highlights
Status
Active
Days on Site
27
Property Type
Multi-Family
MLS ®
50199868
Year Built
1948
Total Square Footage
10,590
Lot/Acreage
0.46
County
Wayne
Neighborhood
Onahome Sub
Area
Detroit (82001)
School District
Detroit City School District
Interior Details
- Bedrooms: 16
- Bathrooms: 16 Full
- Appliances:
- Air Cond:
- Heating: Baseboard,Other-See Remarks
- Fireplaces:
- Floor:
- Above Ground Sq Ft: 10590
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water: Public Water
Exterior Details
- Garage Capacity: N/A
- Lot Dimensions: 20038
- Roof:
- Others:
- Sewer: Public Sanitary
Financial Details
- Tax Amount: $26,473
- Taxes w/Assessments: N/A
- Tax/Property ID: N/A
- Tax Year: N/A
Payment Calculator
Monthly Payment
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- in Taxes
Years
% Down Payment
% Mortgage Rate
Questions About..
18059 Hoover Detroit, MI 48205
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