Stunning brick apartment complex located on Detroit's desirable west side in the Dexter/Linwood area. This 24-unit multifamily asset consists entirely of one-bedroom, one-bath units and is currently approximately 90% occupied, with a portion of Section 8 tenants. The property has seen several major capital improvements, including a roof approximately 5 years old, updated vinyl windows, a boiler replaced approximately 2 years ago, and a newer hot water tank. More than half of the units have been rehabilitated, offering immediate upside and reduced near-term capital expenditures. This stabilized asset operates at an impressive ~12% cap rate, generating approximately $150,000 in net annual income. An excellent opportunity for both seasoned investors and those looking to expand their multifamily portfolio in a strong rental corridor. Serious inquiries
14,388 Sq Ft
0.2 Private Acres Lot Size
investment
$14,161 Annual Tax
Built in 1925
MLS/Listing ID 58050198604
25 Units
Basement
Heating - Steam
Heating - Natural Gas
TOTAL MONTHLY COST
$0
$0
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