This huge four bedroom multi unit house is amazing value at $37,900 for two apartments this is rare.
This huge multi-tenanted property is made up of two very large two bedroom apartments. The house has many nice features and comes with a $6,000 refurbishment for some slight repairs. Both apartments are currently tenanted occupied by great long term tenants paying $12,600 in total a year. This property is located in Nw Goldberg close to the New Center, which is viewed as an investment hotspot due to large scale development taking place in this area.This area is in very high demand at the moment due to its close proximity to Downtown and Midtown, this property is close to everything, the Stadium, the Casino, the University, Comercia Park and the new metro rail link. It is only four miles from Downtown Detroit and within walking distance to Wayne State University, the biggest University in Detroit, if you want to buy in the heart of the action this is the perfect property.
$12,600 rent a year.
$1,260 management fee.
= 26% net return.