Menu

5516 Webb St, Detroit, MI 48204


8 Bedrooms / 4 Baths / Multiple Family

For Sale: $29,950.00

Available (Wholesale)

Contact Info

propertycities
 (313) 652-9120

View On Property Owner's Website


This property is brought to you by:
Michigan Real Estate Investors




Just IN


Fixer-upper with Great Income Student Housing Potential. This rock bottom price comes only once in a while. If you're in the market for a great investment property, take a look at this 8 bedroom, 4 bath Brick Building. This property needs and after Extensive work and will be ready to make you a nice financial return. It's located in Livernois and Oakman area, easy to access the bus or freeways in the area and would rent for 850.00 each unit/month. Hurry! Call today to learn more about this great moneymaking property! Here are the approximate numbers: ARV 150,000 Purchase Price $29,950 cost to fix $60,000 Total $89,950 Cost of money 4 Points $3,598 Cost for 4 months at 12% ($900.00 a month) X 4 months= $3,700 Total cost of Hard Money $7,196 Time of repair 4 Months All in $97,146 Rent per unit $850.00 X 4= $3,400 X 12 months low or no maintenance=$40,800-25% maintenance =$30,600.00 a year is a cap rate of 30% or Sell at ARV and earn approximately $39,354 after closing cost of 9% of Asking. Comparable Property on 1934 Seward st Sold 7/14/17 for $150,000 and is renting units for $850 each X 4 Units is $40,800 a year. Please call or text 313-562-9120 or email heylynn38@gmail.com if interested. Or go to website propertycities.info

Real Estate Promo is not responsible for the properties or the information listed here. Each Property is independantly owned.  Click on the link above to contact the Property Owner about this property.