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Active
18059 Hoover Street Detroit, MI 48205
16 Beds
16 Baths
10,590 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 10,590 sqft
Price per Sqft $94
Subdivision Mi
MLS Listing ID 50199868
Style 2 Story
Bedrooms 16
Full Baths 16
Year Built 1948
Annual Tax Amount $26,473
Lot Size 0.460 Acres
Acres 0.46
Lot Dimensions 20038
Property Sub-Type Multi-Family
Property Description
Calling all investors! 16-unit apartment complex featuring all one-bedroom, one-bath units. Extensively updated with new plumbing, updated electrical, newer windows, and brand-new furnaces. Half the units offer electric baseboard heat, while the others have individual furnaces. Tenants pay gas and electric, keeping operating costs low. Units have been renovated with updated kitchens and baths, new flooring, fresh paint, and stainless steel appliances. 90%+ occupied and generating a strong 12% cap rate. Property has completed Step 1 of the Pilot Program, with seller working toward full approval with two steps remaining. Don't miss this great investment opportunity!
Location
State MI
County Wayne
Area Detroit (82001)
Interior
Heating Baseboard, Other-See Remarks
Fireplace No
Building
Story 2 Story
Foundation Basement
Water Public Water
Schools
School District Detroit City School District
Others
Ownership Private
SqFt Source Realist
Energy Description Electric,Natural Gas
Financing Cash
Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource.
Listed by Keller Williams Paint Creek