MLS # 58050102244, Listed by Keller Williams Paint Creek|(248) 609-800021400 W 7 Mile is a $2,500,000, 50,478 square foot, 64.0 bath home on a 2.33 acre lot located in Detroit, MI.
64-unit brick apartment complex in 8 buildings situated on 2.28 acre site with nice curb appeal and location is 75% occupied. 24 two bedroom units and 40 one bedroom units. Complex underwent a $500,000 capital improvement plan in 2022. New electrical & plumbing have been completed to building of 16 vacant units with only interior finish to be completed (estimated to bring an additional $153,600 in rental income annually). Some leases under market rent with ability to sign new leases at higher amount. All units have individual furnaces which is paid for by tenants. Large parking lot for tenants and property management office and property manager in place. Ideal opportunity for all cash buyer or bank financing.
| Above Grade Sqft | 50,478 |
| Basement | Basement |
| Heating Types | Forced Air Separate Meters |
| Construction Types | Basement |
| Property Type | Income |
| Style Characteristics | 2 Story |
| Year Built | 1955 |
| Association Fee | $0.00 |
| Taxes | $23,299.00 |
| County | wayne |
| School District | detroit |
| Neighborhood | Stollman 3 Also Pg 51 |
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