Detroit, MI 48205,17129 WESTPHALIA Street

$255,000

Est. payment /mo

$250,000

2.0%
Est.Price: ?

For more information regarding the value of a property, please contact us for a free consultation.

17129 WESTPHALIA Street Detroit, MI 48205

5 Beds

5 Baths

2,880 SqFt

SOLD DATE : 04/05/2024

Key Details

Sold Price $255,000

Property Type Multi-Family

Sub Type Other

Listing Status Sold

Purchase Type For Sale

Square Footage 2,880 sqft

Price per Sqft $88

Subdivision Gitre Park

MLS Listing ID 20240005075

Style Other

Bedrooms 5

Full Baths 5

Year Built 1928

Annual Tax Amount $818

Lot Size 5,227 Sqft

Property Description

MULTIPLE OFFER SITUATION. HIGHEST AND BEST FRIDAY AT 5PM. LOCATED 8 MINUTES FROM THE INFAMOUS EAST ENGLISH VILLAGE DISTRICT, YOU WILL FIND 17129 WESTPHALIA NESTLED ON A 5,357 SQUARE FOOT LOT IN A QUIET NEIGHBORHOOD OF HOMEOWNERS. THIS CROWN JEWEL BOASTS A BRAND NEW ROOF TO ENSURE REPEAT DIVIDENDS FOR MANY YEARS TO COME. YOUR APARTMENT COMPLEX CONSISTS OF 5 RECENTLY REMODELED 1 BED ROOM UNITS. EACH UNIT HAS BEEN UPGRADED AND HAS ENTIRELY BRAND NEW ELECTRICAL AND PLUMBING TO INSURE MAINTENANCE FREE CASH FLOW. FURTHERMORE THE ENTIRE COMPLEX HAS NEW ELECTRICAL AND PLUMBING FROM TOP TO BOTTOM. EACH SPACIOUS UNIT HAS FRESHLY ROLLED PAINT AND BRAND NEW CARPET WITH TOP OF THE LINE UNDERLAYMENT. 3 OF THE 5 UNITS ARE LEASED TO SECTION 8 TENANTS AND THE MONTHLY DIVIDENDS ARE $3,010 ALL PAID BY SECTION 8. ONCE THE OTHER 2 UNITS ARE LEASED THE TOTAL MONTHLY SECTION 8 DIVIDENDS WILL BE $5300. THE TENANTS PAY ALL UTILITIES, WHICH ALLOWS THIS COMPLEX TO MAINTAIN A NEAR 29% CASH ON CASH RETURN. PROPERTY TAXES HAVE BEEN REDUCED TO ROUGHLY $100 PER MONTH. THIS DIAMOND WILL BE WRAPPED AROUND A LUCKY OWNER'S FINGER SOON! NO SHOWINGS WITHOUT ACCEPTED FULL LIST OFFER.

Location

State MI

County Wayne

Area Det 8 To Gratiot/Houston To 7

Zoning Multi-Family

Interior

Heating Hot Water

Building

Foundation Slab

Sewer Sewer at Street

Water Water at Street

Structure Type Brick

Schools

School District Detroit

Others

Assessment Amount $240

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Read Less

Want to know what your home might be worth? Contact us for a FREE valuation!

Submit

Our team is ready to help you sell your home for the highest possible price ASAP


Realcomp MLS
Listed by Marta Kopania of 1st Michigan Real Estate
Bought with 1st Michigan Real Estate

Downtown Realty

Brokerage | License ID: 6505386963

+1(313) 466-7253

GET MORE INFORMATION

Name
Phone*
Message

By registering you agree to our Terms of Service & Privacy Policy. Consent is not a condition of buying a property, goods, or services.