13521 Mcnichols Rd, Detroit, MI 48205
7 Unit Apartment Building | $385,000 ($55,000/Unit) | 7.79% Cap Rate | Detroit, MI 48205
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $385,000
- Property Type
-
Multifamily
- Square Feet
- 2,734 SF
Listing Contacts
Dmitriy Selektor
Verified Profile
- Property Info
Property Overview
Great Investment Opportunity! Well Maintained, stabilized and producing 7-unit apartment building. Offered at 7.79% CAP rate. Next door - 13535 McNichols (23 units) is also available for sale. Properties are next to each other and might be sold together. Currently producing at a $63k a year gross . Current Net income is $43,811. Projected gross income once fully leased $68,200. Landlord pays water, gas, electric. Needs advance notice to show. Do not disturb tenants.
Property Details
- Class
- C
- Year Built/Renovated
- 1953/2022
- Stories
- 1
- Lot Size (sq. ft)
- 6,098 SF
- Units
- 7
Highlights
- Located within minutes of retailers such as Exxon gas station, Zorba's Coney Island, Seven Star Food Center, Wendy's and more.
- Within minutes of Gratiot Ave., giving quick access to I-94 and Route 102.
- Property also has several bus stops nearby, allowing great access to those using public transport.
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