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About the Listing 97320 - 619620
LAND CONTRACT TERMS: $230,000 DOWN 7% AMORTIZED OVER 30 YEARS, BALLOON BALANCE AFTER 5 YEARS....Excellent investment opportunity in the heart of Romeo just walking distance to vibrant downtown shops, restaurants, and community events. This well-maintained 4-unit multi-family property features two spacious 1-bedroom, 1-bath units, including two main-level units and two upper studio units. Two of the units offer full basements for additional storage and functionality. All units are occupied by long-term tenants, providing immediate and stable cash flow. Current gross monthly income is $3,475 with strong upside potential, as market rents could support income exceeding $4,000 per month. The property offers plenty of on-site parking to accommodate all occupants. The owner currently pays water, a small common electric bill, gas, lawn care, and snow removal. The roof is newer, and the building has been consistently well maintained, contributing to excellent tenant retention. To avoid disturbing tenants, showings will be scheduled upon an accepted offer only.
Listing Highlights
Status
Active
Days on Site
27
Property Type
Multi-Family
MLS ®
60970377
Year Built
1950
Total Square Footage
2,366
Lot/Acreage
0.18
County
Macomb
Neighborhood
A/P # 02 Romeo/Bruce
Area
Romeo (50000)
School District
Romeo Community Schools
Interior Details
- Bedrooms: 0
- Bathrooms: 4 Full
- Appliances:
- Air Cond:
- Heating: Forced Air
- Fireplaces:
- Floor:
- Above Ground Sq Ft: 2366
- Below Ground Sq Ft: n/a
- Basement: Poured
- Other:
- Water: Community
Exterior Details
- Garage Capacity: N/A
- Lot Dimensions: 120X66
- Roof:
- Others: Deck,Patio
- Sewer:
- Parking Features: On Street
Financial Details
- Tax Amount: $8,427
- 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
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Questions About..
224 Chandler Romeo, MI 48065
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