Unlock incredible income potential with this solid 4-unit multi-family building, each unit featuring three spacious bedrooms - a rare configuration that commands strong rents in the Detroit market. Located on historic Richton Street in the revitalizing Dexter-Linwood district, this property is ideal for investors seeking dependable cash flow and long-term… Read More appreciation.This well-maintained brick building offers major value, including:- Four (4) 3-bedroom units- Separate gas and electric meters - tenants pay their own utilities- Four (4) NEW furnaces - one for each unit, reducing future maintenance costs- Large living and dining rooms in each unit- Spacious kitchens with great layout potential- Shared basement with ample storage- Classic Detroit architectural characterWith high rental demand for 3-bedroom units in this area, investors can position this building for excellent monthly income. The separate utilities and new mechanicals make this an efficient, low-maintenance addition to any portfolio.Conveniently located near major corridors, public transit, schools, and ongoing neighborhood redevelopment, this property is well-situated for both stability and growth.Don't miss out - schedule a tour today and discover the full potential of 2928 Richton Street! Read Less
Provided through IDX through Realcomp II Ltd. Courtesy of Amin Realty, [email protected], (833) 264-6832.
Listing Snapshot
Days Online
41
Last Updated
Property Type
Multifamily
Square Ft.
4,960
Lot Size
0.14 Acres
Year Built
1924
MLS Number
20261053137
30 Days Snapshot Of 48206
$55k
-51%
(avg) sold price
12
-20%
homes sold
93
-1%
(avg) days on market
Snapshot
Area Map
Additional Details
Property Access
Paved
Basement
Unfinished, Basement?: 1
Building
4 total units, 2 leased units, 4 three-bedroom units, Built in 1924, Architectural style: Quadruplex, Brick, 4,960 total square feet, 4,960 combined square feet, 2,480 total basement square feet, Unit count: 4
Fireplaces
Fireplace?: 0
Foundation
Basement
Garage
Garage?: 0
Water Features
Public (Municipal)
Heating
Forced Air, Natural Gas
Interior Features
Cable Available, ENERGY STARAE; Qualified Window(s)
Lot
Lot size area: 0.14, Lot size dimensions: 52.5X120.5
Miscellaneous
Gross scheduled income: $48,000, Income projection: Projected, Monthly rental income: $4,000, Net operating income: $30,000, Operating expense: $6,000
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