HOW MUCH WOULD YOU LIKE TO OFFER FOR THIS PROPERTY?
Additional details
$ 375,000
Est. payment /mo
Active
21710 29 Mile RD Ray, MI 48096
5 Beds
3 Baths
3,752 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type MultiFamily
Listing Status Active
Purchase Type For Sale
Square Footage 3,752 sqft
Price per Sqft $99
MLS Listing ID 58050182366
Bedrooms 5
Full Baths 3
Year Built 1942
Lot Size 0.650 Acres
Acres 0.65
Property Sub-Type MultiFamily
Property Description
Welcome to this fantastic investment opportunity in a prime location! This 2-story 3 unit building features two spacious apartments upstairs, each 938 sqft with 2 bedrooms and 1 bath. The lower level is 1876 sqft currently being used as living quarters but can be reverted back to business use as store, retail, office and more, offering endless possibilities for additional income streams. Each unit provides a private entrance. Located in an area with high traffic counts and high visibility. This property is perfect for entrepreneurs looking to establish a business in a prime community. The apartments provide a steady rental income, making this property a lucrative investment for any savvy investor. CAP RATE 8% or more (current rent is well below area average). Land contract available. We will consider all reasonable offers. Huge lot would allow plenty of space for expansion. Tenant pays all utilities.
Location
State MI
County Macomb
Area Area03051Raytwp
Interior
Heating ForcedAir, NaturalGas, SeparateMeters
Cooling CentralAir
Exterior
Parking Features Assigned2Spaces
Fence Fenced
View Y/N No
Building
Foundation Slab
Sewer SepticTank
Water Well
New Construction No
Schools
High Schools Newhaven
School District Newhaven
Others
Acceptable Financing Cash, Contract, Conventional
Listing Terms Cash, Contract, Conventional
Special Listing Condition ShortSaleNo, Standard
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Listed by Ahmed Arafa of Century 21 Professionals