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$649,900
Est. payment /mo
9,053 SqFt
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 9,053 sqft
Price per Sqft $71
MLS Listing ID 20250019112
Originating Board Realcomp
Year Built 1949
Annual Tax Amount $658
Lot Size 10,890 Sqft
Acres 0.25
Lot Dimensions 94.00 x 115.00
Property Description
Commercial minded investors are always looking for a great building that offers both value add, as well as long term appreciation. This is the play. The building is very well maintained. There are 10 total units with 8 (1 Bed) and 2 (2 Bed). Currently nine units are occupied and paying rent each month. There is 1 evifcion in process that will be completed in the next few weeks. Seller has invested ovwer 100k updating this building. It needs next to nothing. You can take over this asset with 90% occupancy. Only 1 unit to turn and you'll be fully performing. Or we can place the new tenant prior to the sale. The current rents are below market so there is also a ton of room to improve the building by increasing rents overall. There are multiple gas meter hookups to split utilities, or initiate rubs to offset costs for the next owner. The NOI here can be increased greatly making this achieve over 10% CAP with only some minor improvements. This can also be sold as a package to include 3730 Pasadena which is directly next door. Its a 3 bed property that is fully performing. Rented for 1100 per month. This area has undergone millions in upgrades over the last 2 years. If you're looking for long term growth this would a place to consider. This can also be packaed with 3730 Pasadena which is the SFR located right next to the building iside of the fenced lot. This would be for an addtional cost to add it to the 10 unit deal to make 11 total units. Seller WILL LOOK AT ALL REASONABLE OFFERS. Send one over and lets get this deal done
Location
State MI
County Wayne
Area Wayne County - 100
Zoning Commercial
Direction N of Davison W of Dexter
Rooms
Basement Basement
Exterior
View Y/N No
Building
Foundation Block
Water Public
Structure Type Brick
Schools
School District Detroit
Others
Tax ID W14I006165C6
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Listed by Clyde Realty LLC