Multifamily Investment Opportunity
Price
$880,000
14 Units - 10.7% CAP RATE - $10,752/monthly rent
Great opportunity to invest in a performing multifamily property in the City Of Detroit. This property is currently in good condition and 100% tenant occupied with a yearly rental income of $129,024. Value add lies in cosmetic updates and rent increases. Please submit all offers directly to sarter@promiselandrealtyllc.com.
Rental Income Breakdown
Unit 1 $768.00
Unit 2 $870.00
Unit 3 $700.00
Unit 4 $700.00
Unit 5 $700.00
Unit 6 $700.00
Unit 7 $870.00
Unit 8 $768.00
Unit 9 $700.00
Unit 10 $768.00
Unit 11 $768.00
Unit 12 $870.00
Unit 13 $700.00
Unit 14 $870.00
Yearly Rental Income :$129,024.00
Expenses
Water/Sewer : $4,005.24
DTE Gas : $1,774.08
DTE Electric : $299.04
Lawn : $3,000.00
Snow (Seasonal) : $1,400.00
Property Tax : $10,204.00
Insurance : $4,270.00
Property Mgmt: 8% / $10,321.92
Total Expenses Yearly: $35,274.28
NET OPERATING INCOME: $93,749.72
Property Map
"Your #1 Source for Off Market Investment Properties, NATIONWIDE"
PROMISE LAND REALTY, LLC
Work: 864-762-2509
All Off Market Properties are sold 'As-Is'. Buyer must do their due diligence. Sold on warranty deed. We are selling our assignable interest. Proof of Funds is required with all offers. Earnest Money Deposit due within 48 hours of accepted offer. Closings are done quickly and with a title company/closing attorney. *Realtors add your fee on top*
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