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About the Listing 98846 - RC340600
EXCELLENT 5-UNIT MULTIFAMILY INVESTMENT OPPORTUNITY LOCATED AT 6037 APPOLINE.? THIS WELL-MAINTAINED BUILDING OFFERS A STRONG UNIT MIX, STABLE TENANCY, AND CLEAR UPSIDE THROUGH LEASING THE CURRENT VACANT UNIT.? FOUR OF THE FIVE UNITS ARE OCCUPIED WITH CURRENT GROSS RENT OF $3,550 PER MONTH, AND THE LARGEST 1-BEDROOM UNIT, APPROXIMATELY 700 SF, IS CURRENTLY BEING MARKETED AT $925–$950 PER MONTH.? THE PROPERTY HAS BENEFITED FROM SEVERAL IMPORTANT IMPROVEMENTS, INCLUDING MAJOR BOILER AND MECHANICAL WORK COMPLETED BY DETROIT FURNACE IN DECEMBER 2021, UNIT RENOVATIONS, FLOORING UPDATES, BATHROOM AND KITCHEN IMPROVEMENTS, AND EMERGENCY/EXIT LIGHTING INSTALLED FOR THE CERTIFICATE OF OCCUPANCY.? APPLIANCES HAVE ALSO BEEN REPLACED AS NEEDED ON TURNOVER.? WITH TWO LEASES COMMITTED THROUGH 2026 AND 2027, LONG-TERM TENANTS IN PLACE, ON-SITE LAUNDRY, AND RENTAL UPSIDE WITH UNIT 4, THIS PROPERTY OFFERS BOTH IMMEDIATE CASH FLOW AND A VALUE-ADD OPPORTUNITY FOR AN INCOME-FOCUSED BUYER.?
Listing Highlights
Status
Active
Days on Site
2
Property Type
Multi-Family
MLS ®
61003291
Year Built
1930
Total Square Footage
2,214
Lot/Acreage
0.1
County
Wayne
Neighborhood
Robert Oakmans Oakman Blvd & Miller Ave
Area
Dearborn (82093)
School District
Dearborn City School District
Interior Details
- Bedrooms: 0
- Bathrooms: 5 Full
- Appliances:
- Air Cond:
- Heating: Baseboard
- Fireplaces:
- Floor:
- Above Ground Sq Ft: 2214
- Below Ground Sq Ft: n/a
- Basement: Block
- Other:
- Water: Public Water
Exterior Details
- Garage Capacity: N/A
- Lot Dimensions: 35X121
- Roof:
- Others:
- Sewer:
Financial Details
- Tax Amount: $6,385
- Taxes w/Assessments: N/A
- Tax/Property ID: N/A
- Tax Year: N/A
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Years
% Down Payment
% Mortgage Rate
Questions About..
6037 Appoline Dearborn, MI 48126
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