This 17 Unit apartment building in Redford MI has had lots of recent updates, but still has tons of potential to add even more value!
Snapshot:
-17 Units, 16 occupied, 1 vacant
-4 1 bed/1 bath, and 13 studios
-1 building with 6 units, 3 single family, 1 unit cottages and 4 duplexes
-1/2 acre lot
-6,800 SQ Large parking lot paved thats is in good condition
-Owner pays all utilities, trash and lawn
OFFERING 10% SELLER FINANCING
Heating: Single gas furnace in 6-unit apartment building and gas wall furnace in other units.
Cooling: Air conditioner in the main building, tenant optional window units in others.
Rents: Current rents range from $545 - $799 a month.
Current owners have renovated 13 of 17 units with new LVP flooring, kitchens, baths, paint, lights, doors, appliances and trim. Exteriors have been repainted in 2023, roofs replaced on 5 of 8 buildings in 2023. New furnaces in units 9 and 10. New hot water tanks in units 1, 12, 14, 15, 16, 17, and 18. Electrical was updated in 2023 with GFCI. Exterior landscaping refreshed and trees removed in 2023. Parking lot seal coated and striped in 2023. New concrete walks in 2022.
All financial information attached as pdf, including additional photos.
Property is zoned commercial, the city allowed the property to be rent certified. We are looking for experienced multi-family investors for this property.
Contact:
Brendan Rosenbergh
RE/MAX Direct - Broker
248-481-5242
BRose@MIDirectHomes.com