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761 Whitmore Road

Detroit, MI 48203
  • $1,200,000
  • STATUS: Active
  • ON SITE: 26 Days
  • MLS #: 20240018719
$1,200,000
  • 0
    BEDS
  • 0.67
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 24,499
    SQFT
  • $49
    $/SQFT
Type:
Commercial
Built:
1949
County:
Zoning:
Multi-Family
Lot Size Dimensions:
175.00 x 167.00

School Ratings & Info

School District:

Description

Introducing A Prime Investment Opportunity In The Heart Of Palmer Park: A 30-unit Apartment Building, Boasting A Strategic Mix Of 19 1-Bedroom & 11 2-Bedroom Units, This Property Presents An Ideal Canvas For Investors Seeking To Capitalize In The Current Real Estate Market. The Building's Recent Upgrades Include A Brand New Roof & Windows, Ensuring Both Aesthetic Appeal And Long-term Durability. Its Charming Brick Exterior Exudes Timeless Elegance, While Offering 19 Convenient Off-street Parking Spaces, A Coveted Feature In Urban Settings. This Property Is Strategically Positioned For Investors Employing The Buy, Rehab, Rent, Refinance Strategy, With Individually Metered Units Facilitating Streamlined Management & Utility Billing. MSHDA's 2024 Housing Choice Voucher Program Offering Rental Rates " $1,120 For 1-Bedroom Units & $1,420 For 2-Bedroom Units " This Investment Promises Steady Cash Flow & Attractive Returns. With Its Prime Location & Favorable Rental Market Conditions, This 30-unit Apartment Building In Palmer Park Presents An Exceptional Opportunity For Investors To Diversify Their Portfolios & Unlock The Full Potential Of Multi-Family Real Estate Investment. Don't Miss Out On The Chance To Secure Your Stake In This Thriving Market.

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IDX provided courtesy of Realcomp II Ltd. via Berkshire Hathaway HomeServices Snyder & Company, Realtors® and Realcomp II Ltd.. © 2024 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: 2024-04-03T23:59:38.88.
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761 Whitmore Road Detroit, MI 48203

  • Price: $1,200,000
  • Status: Active
  • On Site: 26 Days
  • MLS #: 20240018719
0
Beds
0
Baths
0
½ Baths
0.67
Acres
24,499
SQFT
$49
$/SQFT
1949
Built
Neighborhood:
MERRILL PALMER (ALSO PG 55 )
County:
Wayne
Area:
Det 6-8 Grfld-dequindre
School District:
DETROIT
Property Description
Introducing A Prime Investment Opportunity In The Heart Of Palmer Park: A 30-unit Apartment Building, Boasting A Strategic Mix Of 19 1-Bedroom & 11 2-Bedroom Units, This Property Presents An Ideal Canvas For Investors Seeking To Capitalize In The Current Real Estate Market. The Building's Recent Upgrades Include A Brand New Roof & Windows, Ensuring Both Aesthetic Appeal And Long-term Durability. Its Charming Brick Exterior Exudes Timeless Elegance, While Offering 19 Convenient Off-street Parking Spaces, A Coveted Feature In Urban Settings. This Property Is Strategically Positioned For Investors Employing The Buy, Rehab, Rent, Refinance Strategy, With Individually Metered Units Facilitating Streamlined Management & Utility Billing. MSHDA's 2024 Housing Choice Voucher Program Offering Rental Rates " $1,120 For 1-Bedroom Units & $1,420 For 2-Bedroom Units " This Investment Promises Steady Cash Flow & Attractive Returns. With Its Prime Location & Favorable Rental Market Conditions, This 30-unit Apartment Building In Palmer Park Presents An Exceptional Opportunity For Investors To Diversify Their Portfolios & Unlock The Full Potential Of Multi-Family Real Estate Investment. Don't Miss Out On The Chance To Secure Your Stake In This Thriving Market.
Exterior Features

Architecture Level 3 Story Construction Materials Brick Foundation Details Basement Foundation Materials Block Lot Size Dimensions 175.00 x 167.00 Road Frontage Feet 175 Road Frontage Type Paved Roof Material Rubber Waterfront YN No

Interior Features

Building Area Source Public Records Heating Cooling Forced Air Heating Fuel Natural Gas Sq Ft Main 24499 Sq Ft Office 0 Unit Efficiency Number Of 0 Unit Four Bed Number Of 0 Unit One Bed Number Of 19 Unit Three Bed Number Of 0 Unit Two Bed Number Of 11 Water Heater Fuel Natural Gas

Property Features

Assessment 100.00 Commercial Type ApartmentsBusiness And Real Estate Existing Lease YN No Gross Scheduled Income 442800.00 Inventory Included YN No Land Contract YN No Listing Financing CashConventionalWarranty Deed Monthly Sales 36900 Net Operating Income 265680.00 Operating Expense 177120.00 Ownership Status Short Sale - NoPrivate Owned Percent Leased 0 Possession At Close Postal City Detroit Protection Period 180 Settlement City Sewer Public Sewer (Sewer-Sanitary) Short Sale No Tax Amount Summer 8440.0000 Tax Amount Winter 1021.0000 Title Standard (Private) Total Tax 9461.0000 Unparsed Address 761 WHITMORE Road Water Source Public (Municipal) Zoning Multi-Family

Realcomp IDX logo IDX provided courtesy of Realcomp II Ltd., via Own It Realty: (313) 395-0000 and Realcomp, ©2024 Realcomp II Ltd. Shareholders.


IDX provided courtesy of Realcomp II Ltd. via Berkshire Hathaway HomeServices Snyder & Company, Realtors® and Realcomp II Ltd.. © 2024 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: 2024-04-03T23:59:38.88.
 
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