UPDATED:
Key Details
Property Type Multi-Family
Sub Type MultiFamily
Listing Status Active
Purchase Type For Sale
Square Footage 1,134 sqft
Price per Sqft $167
Subdivision Ford Heights- Hazel Park
MLS Listing ID 20251057915
Style UpperLowerApartment
Full Baths 2
Year Built 1925
Lot Size 3,049 Sqft
Acres 0.07
Property Sub-Type MultiFamily
Property Description
Investor Highlights:
Fully Occupied & Income-Producing: Both units are currently rented, generating a total gross monthly income of $2,000 ($24,000 annually).
Approximate Investment Yield: Based on a list price of $190,000 (MLS# 20251057915), the gross annual rental income represents an approximate 12.6% Gross Cap Rate ($24,000 / $190,000). This calculation does not include operating expenses (taxes, insurance, utilities, maintenance, etc.) and is provided for preliminary financial comparison.
The property features 2 bathrooms and a total finished area of 1,134 sq.ft. The home spans 2 stories and sits on a lot size of 3,049.2 sq.ft., providing plenty of outdoor space for relaxing and entertaining.
With its vintage charm and spacious layout, this property offers a unique and compelling opportunity for seasoned investors or those looking to begin their real estate portfolio. The home's central location in Hazel Park provides easy access to local amenities, popular restaurants, and neighborhood parks.
Don't miss out on this historic, income-generating gem – schedule a showing today to see all that this property has to offer!
Location
State MI
County Oakland
Area Area02257Hazelpark
Interior
Heating Natural Gas, Wall Furnace
Fireplace No
Exterior
Parking Features OnStreet
Pool None
Utilities Available AboveGroundUtilities
View Y/N No
Roof Type Asphalt
Garage false
Building
Foundation Slab
Sewer Public Sewer
Water Public
New Construction No
Schools
High Schools Hazel Park
School District Hazelpark
Others
Senior Community false
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition ShortSaleNo, Standard
Pets Allowed Cats Ok, Dogs Ok
Virtual Tour https://www.listingbooster.com/virtual-tour/home/124452249
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