For more information regarding the value of a property, please contact us for a free consultation.
16085 E 7 MILE RD Detroit, MI 48205
Want to know what your home might be worth? Contact us for a FREE valuation!
Our team is ready to help you sell your home for the highest possible price ASAP
Key Details
Sold Price $440,000
Property Type Commercial
Sub Type Commercial
Listing Status Sold
Purchase Type For Sale
Square Footage 8,694 sqft
Price per Sqft $50
Subdivision Avalon Heights (Plats)
MLS Listing ID 219033031
Sold Date 07/19/19
Bedrooms 10
Originating Board Realcomp II Ltd
Year Built 1947
Annual Tax Amount $4,570
Lot Size 0.440 Acres
Acres 0.44
Lot Dimensions 182.50X100.00
Property Description
EXCELLENT 10 UNIT INCOME PRODUCING TURN-KEY PROPERTY 100% SECTION 8 OCCUPIED. START MAKING MONEY THE MINUTE YOU CLOSE. MOST TENANTS HAVE BEEN IN THE UNITS ON AVERAGE OF 3-5 YEARS. NEWER WINDOWS, GUTTERS, HEATING, PLUMBING AND ELECTRICAL. TAXES HAVE BEEN APPEALED AND ARE LESS THAN $4,500 ANNUALLY. NOWHERE ELSE CAN YOU PAY LESS THAN $45,000 PER DOOR AND PRODUCE $750 IN RENTAL INCOME PER MONTH (MULTIPLIED BY 10 DOORS OR UNITS). THIS BUILDING IS A NO-BRAINER FOR ANY INVESTOR LOOKING TO COLLECT THAT STEADY CASH FLOW MONTH OVER MONTH. CALL AGENT FOR A LIST OF 3 OTHER GREAT PROPERTIES ALSO FOR SALE BY THE SAME SELLER.
Location
State MI
County Wayne
Area Det 8 To Gratiot/Houston To 7
Zoning Commercial
Direction Head west o 7 Mile just east of Kelly.
Interior
Heating Forced Air
Heat Source Natural Gas
Exterior
Roof Type Asphalt
Road Frontage Paved
Building
Foundation Basement
Sewer Sewer-Sanitary
Water Municipal Water
Level or Stories 2 Story
Structure Type Brick
Schools
School District Detroit
Others
Tax ID W21I021308C16
Ownership Private Owned,Short Sale - No
SqFt Source seller app
Acceptable Financing Cash, Land Contract
Listing Terms Cash, Land Contract
Financing Cash,Land Contract
Special Listing Condition Full Service
Read Less
©2024 Realcomp II Ltd. Shareholders
Bought with Century 21 Curran & Oberski