UPDATED:
Key Details
Property Type Multi-Family
Sub Type MultiFamily
Listing Status Active
Purchase Type For Rent
Square Footage 2,600 sqft
Subdivision Robert Oakmans Ford Hwy & Glendale
MLS Listing ID 20261069603
Style Duplex,Triplex
Full Baths 3
Year Built 1927
Lot Size 3,920 Sqft
Acres 0.09
Property Sub-Type MultiFamily
Property Description
while tenants cover the mortgage. This updated triplex near Detroit's historic Russell Woods neighborhood would generate $3,050/month in
projected gross rent across three spacious units; delivering dependable income with minimal overhead. The property includes a 3-bed/1-bath unit (1,300 sq ft, $1,300/mo) and two1-bed/1-bath units (700 sq ft at $900/mo, 600 sq ft at $850/mo), each offering updated finishes and solid market appeal.
Note: Roof on the property needs to be redone. Priced with condition in mind and still ready to deliver strong cash flow. Recent upgrades include new electrical panels, updated plumbing supply and drain lines, new carpet/laminate flooring, fresh paint and updated vanities; delivering a clean, low-maintenance product for any investor.
Investor highlights:
• NOI: $25,482
• Cap Rate: 12.13% (at $210,000 purchase price)
• Cash Flow (with 20% down): ~$12,766/year
• Cash-on-Cash Return: 30.40%
• Expenses include standard reserves for maintenance, property
management, and vacancy.
Also for sale is 13167 Stoepel another triplex. Acquire both triplex's, maximize your wealth potential and continue to scale up your real estate portfolio.
Location
State MI
County Wayne
Area Area05042Det6Tiregrnfldlivernois
Rooms
Basement Full, Unfinished
Interior
Heating Natural Gas, Radiant, Steam
Cooling Ceiling Fans
Fireplace No
Exterior
Parking Features OnStreet
Fence Back Yard
Pool None
Utilities Available AboveGroundUtilities, CableAvailable
View Y/N No
Roof Type Asphalt
Garage false
Building
Foundation Basement, Block
Sewer Public Sewer, Sewer At Street
Water Public, WateratStreet
Architectural Style Duplex, Triplex
New Construction No
Schools
School District Detroit
Others
Senior Community false
Acceptable Financing Cash, Conventional, FHA, FHA203K
Listing Terms Cash, Conventional, FHA, FHA203K
Special Listing Condition ShortSaleNo, Standard
Pets Allowed Yes
Nearby Locations
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Erica Welch
Assistant Property Manager License ID: 384385
Assistant Property Manager License ID: 384385