Description
Well maintained multi family asset in University District, only 10 minutes from downtown Detroit! All units are subsidized under Section 8 program with an average rental rate of $1,161. Gross rent collection in 2024 of $195k+ with 2024 NOI $110k+. All major Capex completed (roof, windows, boiler, hot water tank, electrical, and plumbing). Currently two down units which provides the new buyer the opportunity to add additional revenue along with adding laundry.
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0BEDS
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0.17ACRES
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0BATHS
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01/2 BATHS
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12,879SQFT
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$105$/SQFT
Description
Well maintained multi family asset in University District, only 10 minutes from downtown Detroit! All units are subsidized under Section 8 program with an average rental rate of $1,161. Gross rent collection in 2024 of $195k+ with 2024 NOI $110k+. All major Capex completed (roof, windows, boiler, hot water tank, electrical, and plumbing). Currently two down units which provides the new buyer the opportunity to add additional revenue along with adding laundry.
IDX provided courtesy of Realcomp II Ltd. via Berkshire Hathaway HomeServices Snyder & Company, Realtors® and Realcomp II Ltd.. © 2025 Realcomp II Ltd. Shareholders. Real estate listings held by brokerages other than Berkshire Hathaway HomeServices Snyder & Company, Realtors® are marked with the Realcomp-approved IDX logo and are provided through IDX through Realcomp II Ltd. IDX information is provided exclusively for the consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Any use of search facilities of data on the site, other than by a consumer looking to purchase real estate, is prohibited. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. Data last updated: 2025-04-21T16:02:46.76.
IDX provided courtesy of Realcomp II Ltd., via National Realty Centers, Inc: (248) 724-1234 and Realcomp, ©2025 Realcomp II Ltd. Shareholders.