$152,500
$165,000
7.6%For more information regarding the value of a property, please contact us for a free consultation.
2 Beds
2 Baths
1,920 SqFt
SOLD DATE : 08/14/2023
Key Details
Sold Price $152,500
Property Type Multi-Family
Sub Type Upper/Lower Apartment
Listing Status Sold
Purchase Type For Sale
Square Footage 1,920 sqft
Price per Sqft $79
Subdivision East Detroit Development Cos Sub No 2 (Plats)
MLS Listing ID 20230059660
Sold Date 08/14/23
Style Upper/Lower Apartment
Bedrooms 2
Full Baths 2
Originating Board Realcomp II Ltd
Year Built 1928
Annual Tax Amount $1,216
Lot Size 4,356 Sqft
Acres 0.1
Lot Dimensions 40.00 x 114.00
Property Description
Welcome to this fantastic investment opportunity in Detroit! The current owner is already benefiting from a steady rental income of $2,000 per month, with one long term tenant already in place in the lower unit and another scheduled to move into the upper unit on 8/1.
The lower unit's furnace was replaced just 5 years ago, while the upper unit has been upgraded with brand new windows, a furnace, and a hot water tank, providing the tenants with modern comforts and helping to reduce maintenance costs. The roof was replaced 4 years ago, ensuring the longevity of the structure and offering peace of mind to the savvy investor.
Beyond the practical updates and well-maintained features, this duplex reflects pride of ownership and is beautifully kept throughout, creating a welcoming and comfortable environment for the tenants.
Both current tenants are delighted with their living arrangements and express their desire to continue their lease, making this an easy transition for the new owner.
Whether you are an experienced investor seeking to expand your portfolio or a newcomer looking for a lucrative opportunity, this duplex in Detroit promises to be an excellent addition to your investment strategy. Take advantage of this incredible chance to own a cash-flowing property with immediate returns and a bright future. Don't miss out – schedule a showing today and secure your foothold in Detroit's thriving real estate market!
Location
State MI
County Wayne
Area Det Con-Mors/Grat. Hstn/7 Mack
Zoning Multi-Family,Residential
Direction S Whittier W Chandler Park
Rooms
Basement Unfinished
Interior
Heating Hot Water
Heat Source Natural Gas
Exterior
Garage Spaces 1.0
Pool No
Porch Porch
Road Frontage Paved
Garage 1
Building
Foundation Basement
Sewer Public Sewer (Sewer-Sanitary)
Water Public (Municipal)
Architectural Style Upper/Lower Apartment
Level or Stories 2 Story
Structure Type Brick
Schools
School District Detroit
Others
Pets Allowed Yes
Tax ID W21I070049S
Ownership Short Sale - No,Private Owned
Assessment Amount $340
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing Cash,Conventional
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