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$ 335,000
Est. payment | /mo
4 Baths
6,969 Sqft Lot
$ 335,000
Est. payment | /mo
4 Baths
6,969 Sqft Lot
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Municipality Eastpointe City
Subdivision Eastpointe City
MLS Listing ID 20261042699
Year Built 1928
Annual Tax Amount $9,096
Lot Size 6,969 Sqft
Acres 0.16
Lot Dimensions 70X100
Source Realcomp
Property Description
This fully occupied, income-producing triplex offers strong cash flow from day one. The historic three-story brick building features three units — a three-bedroom, one-bath at 1,310 square feet and two one-bedroom, one-bath units — delivering $3,929 in monthly rental income and over $47,000 in annual gross income with a cap rate of 8%. All units are leased, separately metered, and tenants pay electric. Rent covers heat-gas, water-sewer, snow removal, trash, and yard maintenance. Units 1 and 3 are Section 8, providing guaranteed government-backed rental payments.Major updates completed by the previous owner include a new roof, windows, and furnace in 2017–2018, and new exterior doors and water heater in 2020–2021. A single water heater and furnace service all units via a programmable thermostat. The partially finished basement houses a shared laundry facility, a half bath for landlord/property manager use, and 4 storage rooms. A detached 3 car garage sits vacant, offering additional rental income potential.Unit 1 features a private four seasons room filled with leaded glass windows and abundant natural light. Unit 2 enjoys a private balcony. The third level loft with original leaded glass windows presents an opportunity to be finished as a fourth income-producing unit. Sale includes all kitchen appliances, three washer/dryer sets, three window AC units, and an active Rental Certificate.
Location
State MI
County Macomb
Zoning Multi-Family
Direction Gratiot to Crescentwood go West to Maplewood go South.
Interior
Heating Forced Air
Exterior
View Y/N No
Building
Water Public
Structure Type Brick,Vinyl Siding
Others
Tax ID 1431153006
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Listed by National Realty Centers, Inc
Nearby Locations
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