MLS # 20230074537, Listed by First Michigan Realty Corp|(586) 945-178918501 18515 Hoover Street is a $479,900, 4,560 square foot, 12 bedroom, 12.0 bath home on a 0.30 acre lot located in Detroit, MI.
THIS FANTASTIC OPPORTUNITY WILL NOT LAST, FOLKS!! A TRUE 10.5 CAP RATE WITH POTENTIAL PROJECTED 16.7 WITH RENTAL INCREASE THIS YEAR!!! THIS SUPER GARDEN/LOW RISE APARTMENT COMPLEX HAS 12 RANCH STYLE UNITS WITH PRIVATE ENTRY. TENANTS PAY ALL UTILITIES EXC WATER/SEWER, SNOW/LAWN AND GARBAGE. 6 UNITS HAVE SEPARATE BD/500 SQ FT AND 6 LARGE EFFICIENCIES.FURTHER, THERE IS A LARGE PARKING LOT AND SEPARATE METERS/ BLDGS HAVE CONDO STYLE AND POTENTIAL IMMEDIATE INCOME WITH A CONDO CONVERSION ( CONDOS SELLING AT APROX 64K PER UNIT!) WARREN CITY BORDER PROPERTY HERE! BEAUTIFUL AND DESIRABLE!! OCCUPANCY AT 95% CURRENTY AND AVG 100% WITH MANY LONG TERM TENANTS! FUSSY OWNER HAS A VERY LONG WAITING LIST! THIS IS A BANK FORECLOSURE, OTHERWISE WOULD NEVER CONSIDER THE SALE OF THIS MONEY MAKING COMPLEX SO HURRY WE LOOK FORWARD AND STAND READY!!! PLEASE BE DISCREET-TENANTS ARE NOT AWARE OF SALE. FURTHER, WE OFFER ANOTHER 2 BLDGS AND ARE ABLE TO DO A PKG DEAL FOR YOU. PLEASE CALL FOR DETAILS!
| Above Grade Sqft | 4,560 |
| Interior Features | Cable Available High Spd Internet Avail Smoke Alarm |
| Heating Types | Baseboard Other Electric |
| Exterior Features | Private Entry |
| Roof | Asphalt Composition |
| Construction Types | Brick Slab |
| Land Type | Zoning - Multi-Family |
| Water Source | Water at Street |
| Sewer | Sewer at Street |
| Property Type | Income |
| Style Characteristics | 1 Story |
| Style | Ranch |
| Year Built | 1956 |
| Association Fee | $0.00 |
| Taxes | $2,376.00 |
| County | wayne |
| School District | detroit |
| Neighborhood | Shady Lawn Sub No 1 |
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