$ 675,000
1705 OAKMAN Boulevard Detroit, MI 48238
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REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 675,000
Est. payment /mo
Active
1705 OAKMAN Boulevard Detroit, MI 48238
26 Baths
6,098 Sqft Lot
UPDATED:
10/28/2024 08:00 PM
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 20240066483
HOA Y/N true
Originating Board Realcomp
Year Built 1927
Annual Tax Amount $2,901
Lot Size 6,098 Sqft
Acres 0.14
Lot Dimensions 50.00 x 120.00
Property Description
Great Investment Opportunity: 13-Unit Apartment Complex in Oakman Historical DistrictCheck out this fantastic 13-unit apartment building in the Oakman Historical District of Detroit. It’s a solid investment with 10 out of the 13 units currently rented, so you’ll start earning right away!Taxes $3,800 annuallyInsurance $6,000 annuallyGas $12,000 annuallyElectric $2,400 AnnuallyWater $9,600 annuallyUnits 1, 7, 3, 10 are vacantUnit 2 the building manager lives in and would like to stay, he takes care of the building and grounds in exchange for housing, has been there 20 yearsunits 6 and 13 pay $600 monthlyremaining units pay $500 monthlyBoiler in basement, original plumbing, fixed when needed and well maintained, newer electrical boxesNot a government rent controlled building and no tenants are section 8All units are the same layout, 1 bed 1 bath, some have carpet, some have wood floors. Tenants pay electric and cooking gas. windows are 4 years old, roof is under 10 years oldLocated in a charming historic neighborhood with lots of character.This property combines historical appeal with recent upgrades and offers great rental income potential. It’s a smart choice for anyone looking to invest in a growing area!
Location
State MI
County Wayne
Area Wayne County - 100
Zoning Commercial,Multi-Family
Direction North on Linwood, West on Oakman
Interior
Heating Radiant, Wall Furnace
Exterior
Amenities Available Pets Allowed
Waterfront No
View Y/N No
Building
Sewer Public
Water Public
Structure Type Brick
Others
Tax ID W12I004787S
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Listed by RE/MAX Leading Edge