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Michael J.  Martin

Michael J. Martin
Broker/Owner
MJM Grand Properties
Milan, MI 48160

888-882-7355
Contact Us

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Listing 2 out of 42
$225,000 For Sale

35422 Smith Road
Romulus, MI 48174

7 units | Multi Family Home
0.62 acres - MLS# 219003214
Property Photo
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Description

ATTENTION INVESTOR! The owner of this 7 unit apartment complex in Romulus is retiring after 20 years of ownership! It as a mix of 2 Three Bedroom units, 4 Two Bedroom units and a One Bedroom unit. All units are metered separately for gas and electric and the landlord pays for the water & sewer. This location is excellent, being under 2 miles from the new Amazon Fulfillment Center and under 5 miles from Detroit Metropolitan Airport. The projected Cap Rate is 17.12%. Don't miss out on this opportunity. Property is being sold is "AS IS" condition. Needs some TLC. DO NOT APPROACH THE TENANTS! All information is estimated and should be verified.

Features

  • Property Type: Multi Family Home
  • Sub Type: Multi Family Home
  • Listing Status: Active
  • County/Area: Wayne County
  • Zip Code: 48174
  • Year Built: 1967
  • School District: Romulus
  • Sq.Ft.: 6,438 sq ft
  • Units: 7 units
  • Full Baths: 7
  • Half Baths: 2
  • Basement: Interior Access Only, Private
  • # of Parking Spaces: 11
  • Lot Size: 0.62 acres
  • Baths: 9
  • Zoning: Multi-Family
  • Architecture Level: 2 Story
  • Conforms To Zoning: 1
  • Construction Materials: Aluminum, Brick
  • Cooling: Central Air
  • Foundation Details: Basement
  • Foundation Materials: Poured
  • Frontage Feet: 158
  • Gross Scheduled Income: 53400.00
  • Heating: Forced Air
  • Heating Fuel: Natural Gas
  • Income Projection: Projected
  • Listing Financing: Cash
  • Lot Dimensions: 158 X 158 X 163 X 158
  • Monthly Rental Income: 4450
  • Net Operating Income: 38521.00
  • Number Of Units Leased: 1
  • Originating MLS: Realcomp Ii Ltd
  • Ownership Status: Private Owned, Short Sale - No
  • Parking: Paved
  • Porch Type: Patio
  • Rent Includes: Garbage Pickup, Snow Removal, Water/Sewer, Yard Maintenance
  • Road Frontage Type: Paved
  • Sewer: Sewer-Sanitary
  • Sqft Combined: 6438
  • Sqft Source: Prd
  • Sqft Total Bsmt: 3923
  • Unit Count: 7
  • Unit One Bed Number Of: 1
  • Unit Three Bed Number Of: 2
  • Unit Two Bed Number Of: 4
  • Water Heater Fuel: Natural Gas
  • Water Source: Municipal Water
Courtesy of Van Esley Real Estate Inc



MJM Grand Properties | 888-882-7355 | Contact Us
10770 Darling Rd - Milan, MI 48160
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