**OPPORTUNITY** This MASSIVE 6 unit Virginia Park multi-family property is looking for a new owner to bring it back to its former glory! The property currently features 6 2-bedroom units and has space to add 2 additional 1 bedroom units in the walk-up attic space. The property does require a… Read More full rehab but could be an absolute cash-cow once completed, as the units should rent for at least $1,200/month each, meaning you could generate over 110K in rental income per year! Located less than a block away from the Herman Kiefer project and 2 blocks from the Lodge freeway, this is an absolutely prime location! 5+ unit properties are extremely rare in the greater New Center area so take advantage of this incredible opportunity while you can! CASH OR HARD MONEY ONLY, NO SELLER FINANCING. Read Less
Provided through IDX through Realcomp II Ltd. Courtesy of RE/MAX Leading Edge, (734) 404-8800.
Listing Snapshot
Days Online
97
Last Updated
Property Type
Multifamily
Square Ft.
3,220
Lot Size
0.16 Acres
Year Built
1916
MLS Number
20261000538
30 Days Snapshot Of 48206
$72k
-29%
(avg) sold price
20
+33%
homes sold
87
-9%
(avg) days on market
Snapshot
Area Map
Additional Details
Property Access
Paved
Basement
Unfinished, Walk-Out Access, Basement?: 1
Building
6 total units, 6 two-bedroom units, Built in 1916, Architectural style: Historic, Brick, 3,220 total square feet, 3,220 combined square feet, 1,610 total basement square feet, Unit count: 6
Fireplaces
Fireplace?: 0
Foundation
Basement
Garage
Garage?: 0
Water Features
Public (Municipal), Water at Street
Heating
Forced Air, Natural Gas
Lot
Lot size area: 0.16, Lot size dimensions: 54.00 x 127.00
Miscellaneous
Gross scheduled income: $115,200, Income projection: Projected, Monthly rental income: $9,600, Net operating income: $80,640, Operating expense: $34,560
Pool
Pool?: 0
Property
Property type: Multifamily
Taxes
Tax amount (summer): $45, Tax amount (winter): $6
Sewer
Sewer (Sewer-Sanitary), Sewer at Street
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