Detroit, MI 48203,250 W MARGARET ST

$400,000

Est. payment /mo

$842,000

52.5%
Est.Price: ?

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250 W MARGARET ST Detroit, MI 48203

11 Beds

7,338 SqFt

SOLD DATE : 06/29/2018

Key Details

Sold Price $400,000

Property Type Commercial

Sub Type Apartments

Listing Status Sold

Purchase Type For Sale

Square Footage 7,338 sqft

Price per Sqft $54

Subdivision Grix Home Park (Plats)

MLS Listing ID 218007277

Bedrooms 11

Year Built 1927

Annual Tax Amount $4,229

Lot Size 4,356 Sqft

Property Description

THIS IS A PART OF PORTFOLIO OF PROPERTIES. A 14 UNIT APARTMENT BUILDING, 5 TWO FAMILY FLATS AND 2 SINGLE FAMILY HOUSES. ALL OF THE PROPERTY IS RENTED. COMBINED ANNUALIZED GROSS SCHEDULED RENTAL INCOME IS $222,540, ANNUAL COMBINED EXPENSES ARE $78,000. ALL PROPERTIES HAVE BEEN MAINTAINED. ALL PROPERTIES ARE ON THE EASTSIDE OF DETROIT. OWNER PAYS ALL UTILITIES IN THE APARTMENT BUILDING, TENANTS PAYS ELECTRIC AND GAS IN SOME OF THE RESIDENTIAL PROPERTIES, OWNER PAYS UTILITIES IN OTHERS. RESIDENTIAL PROPERTIES ARE LOCATED AT 14901-3 MAPLERIDGE, 8071-3 ROBINWOOD, 18655-7 GABLE, 15010 LAPPIN, 14774 WILFRED, 13625 DEAN AND 14101 E STATE FAIR.

Location

State MI

County Wayne

Area Det 6-8 Grfld-Dequindre

Zoning Multi-Family

Interior

Heating Forced Air

Exterior

Pool No

Waterfront no

Building

Foundation Basement, Slab

Sewer Sewer-Sanitary

Water Municipal Water

Structure Type Aluminum,Brick,Vinyl

Schools

School District Detroit

Others

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Special Listing Condition Full Service

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Realcomp MLS
Listed by RE/MAX Dream Properties

Downtown Realty

Brokerage | License ID: 6505386963

+1(313) 466-7253

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