21710 29 Mile Rd, Ray, MI 48096
3 Unit Apartment Building | $445,000 ($148,333/Unit) | 8% Cap Rate | Ray, MI 48096
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $445,000
- Property Type
-
Multifamily
- Square Feet
- 5,176 SF
Listing Contacts
Ahmed Arafa
Verified Profile
- Property Info
Property Overview
Welcome to this fantastic investment opportunity in a prime location! This 2-story 3 unit building features two spacious apartments upstairs, each 938 sqft with 2 bedrooms and 1 bath. The lower level is 1876 sqft currently being used as living quarters but can be reverted back to business use as store, retail, office and more, offering endless possibilities for additional income streams. Each unit provides a private entrance. Located in an area with high traffic counts and high visibility. This property is perfect for entrepreneurs looking to establish a business in a prime community. The apartments provide a steady rental income, making this property a lucrative investment for any savvy investor. CAP RATE 8% or more (current rent is well below area average). Land contract available. We will consider all reasonable offers. Huge lot would allow plenty of space for expansion.
Property Details
- Class
- C
- Year Built
- 1925
- Stories
- 2
- Property Subtype
- Storefront Retail/Residential
- Lot Size (sq. ft)
- 28,314 SF
- Units
- 3
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