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$ 419,900
Est. payment /mo
Price Dropped by $10K
224 Chandler Street Romeo, MI 48065 4600
4 Baths
2,366 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 2,366 sqft
Price per Sqft $177
Subdivision Mi
MLS Listing ID 60970377
Style 2 Story
Full Baths 4
Year Built 1950
Annual Tax Amount $8,427
Lot Size 7,840 Sqft
Acres 0.18
Lot Dimensions 120X66
Property Sub-Type Multi-Family
Property Description
LAND CONTRACT TERMS: $230,000 DOWN 7% AMORTIZED OVER 30 YEARS, BALLOON BALANCE AFTER 5 YEARS....Excellent investment opportunity in the heart of Romeo just walking distance to vibrant downtown shops, restaurants, and community events. This well-maintained 4-unit multi-family property features two spacious 1-bedroom, 1-bath units, including two main-level units and two upper studio units. Two of the units offer full basements for additional storage and functionality. All units are occupied by long-term tenants, providing immediate and stable cash flow. Current gross monthly income is $3,415 with strong upside potential, as market rents could support income exceeding $4,000 per month. The property offers plenty of on-site parking to accommodate all occupants. The owner currently pays water, a small common electric bill, gas, lawn care, and snow removal. The roof is newer, and the building has been consistently well maintained, contributing to excellent tenant retention. To avoid disturbing tenants, showings will be scheduled upon an accepted offer only.
Location
State MI
County Macomb
Area Romeo (50000)
Rooms
Basement Poured
Interior
Heating Forced Air
Fireplace No
Exterior
Exterior Feature Aluminum, Brick
Building
Story 2 Story
Foundation Basement
Water Community
Structure Type Aluminum,Brick
Schools
School District Romeo Community Schools
Others
Ownership Private
Energy Description Natural Gas
Financing Cash,Conventional
Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource.
Listed by Move Realty LLC