Renovated two-family flat producing roughly $19,000 a year in net income. The lower unit is short-term and turns over this summer; the upper is leased through June 2027 at $1,425/month. That mix gives an owner-occupant room to live in one unit and let the other help carry the note, or… Read More an investor a stabilized upper with upside on the turnover below.The renovated units offer 1,050 sq ft of hardwood floors, a bay window, and an exposed brick column that runs from the living space into the kitchens. The kitchens pair quartz counters with a gas ranges, dishwashers, subway tile backsplashes, and open shelving; the full baths are finished in floor-to-ceiling tile. Fenced backyard and separate washer and dryer in shared basement with lots of extra storage space. Location carries the value. The home sits near the Motown Museum, whose $75 million expansion is under construction on West Grand Boulevard, and a short walk from Henry Ford Health's $2.2 billion Destination: Grand hospital campus, a 20-story tower set to open by the end of 2029, part of a broader New Center plan with Michigan State University and the Detroit Pistons that adds a medical research center and mixed-use housing. With Wayne State, CCS, and Henry Ford all close, rental demand should stay healthy for years. Steps to New Center and Milwaukee Junction, adjacent to LaSalle Gardens and Virginia Park, minutes from the North End, and a quick ride to Corktown and downtown. Read Less
Provided through IDX through Realcomp II Ltd. Courtesy of Douglas Rose Realty, [email protected], (810) 623-0228.
Listing Snapshot
Days Online
0
Last Updated
Property Type
Multifamily
Square Ft.
1,050
Lot Size
0.09 Acres
Year Built
1915
MLS Number
20261041221
30 Days Snapshot Of 48208
$165k
-30%
(avg) sold price
5
-16%
homes sold
123
-6%
(avg) days on market
Snapshot
Area Map
Additional Details
Property Access
Paved
Basement
Daylight, Unfinished, Common, Basement?: 1
Building
2 total units, 2 leased units, 2 three-bedroom units, Built in 1915, Remodelled in 2022, Architectural style: Historic, Upper/Lower Apartment, Vinyl, 1,050 total square feet, 1,050 combined square feet, 1,056 total basement square feet, Unit count: 2
Cooling
Central Air
Exterior Features
Lighting
Fireplaces
Fireplace?: 0
Foundation
Basement
Garage
Garage?: 0
Water Features
Public (Municipal)
Heating
Forced Air, Natural Gas
Interior Features
Circuit Breakers, Laundry Facility
Lot
Lot size area: 0.09, Lot size dimensions: 30X136
Miscellaneous
Gross scheduled income: $34,200, Income projection: Actual, Monthly rental income: $2,850, Net operating income: $18,810
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