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$ 605,000
Est. payment /mo
Price Dropped by $20K
20810 W Chicago Street Detroit, MI 48228
7,796 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Commercial/Industrial
Listing Status Active
Purchase Type For Sale
Square Footage 7,796 sqft
Price per Sqft $77
Subdivision Mi
MLS Listing ID 60933040
Annual Tax Amount $15,989
Lot Size 8,712 Sqft
Acres 0.2
Lot Dimensions 88x 1000
Property Sub-Type Commercial/Industrial
Property Description
Discover this well-maintained 11-unit apartment building located in the heart of Detroit. The property features 4 spacious two-bedroom units and 7 comfortable one-bedroom units, offering a versatile mix to attract a wide range of tenants. Strong Occupancy: 9 of 11 units currently leased, providing immediate cash flow. Tenant-Paid Utilities: Each unit is separately metered for electric, with tenants responsible for their own usage. Landlord-Paid Water: Simplifies utility management for residents. Investment Potential: Opportunity to increase income with two vacant units ready for new tenants or updates. This property is ideal for an investor seeking a stable, income-producing asset with room for growth. Conveniently located near major roads, schools, and amenities, this building offers both short- and long-term upside potential in Detroit's rental market. *Showings by appointments by only.
Location
State MI
County Wayne
Area Detroit (82001)
Zoning Multi-Family
Interior
Heating Forced Air
Building
Water Public Water
Structure Type Brick
Others
Ownership Private
Energy Description Natural Gas
Financing Cash,Conventional
Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource.
Listed by EXP Realty Main