19143 BERG Road Contingent Save Request In-Person Tour Request Virtual Tour
Detroit,MI 48219 5621
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Contingent
Purchase Type For Sale
Square Footage 39,816 sqft
Price per Sqft $45
Subdivision Mi
MLS Listing ID 60317356
Style 2 Story
Full Baths 40
Half Baths 8
Year Built 1963
Annual Tax Amount $34,207
Lot Size 1.260 Acres
Acres 1.26
Lot Dimensions Irregular
Property Description
Lucrative Investment Opportunity: Well-Established 40-Unit Apartment Building! *Call for Offers for Monday July 1st at 3 pm.* Seeking a stable and profitable investment? Look no further than this exceptional 40-unit apartment complex located in Detroit. The property boasts a strong rental history and excellent income potential. Currently generating a gross annual income of approximately $324,000 with a projected Net Operating Income (NOI) of $227,000 for 2024, this investment offers proven performance. There's also significant value-add opportunity: reach full capacity and unlock even greater income. Projected gross income upon full occupancy is $432,000. The complex caters to a wide range of renters with a diverse unit mix of spacious 2-bedroom townhouses (8 units), regular 2-bedroom units (8 units), and efficient 1-bedroom units (24 units). Landlord currently covers water, gas, and electric. Don't miss out on this income-generating gem! Showings require advanced notice to respect current tenants. Contact us today to schedule a showing and learn more about this opportunity in a desirable location. Proof of funds and/or financing is required to schedule a showing.
Location
State MI
County Wayne
Area Detroit (82001)
Rooms
Basement Common,Poured
Interior
Interior Features Cable/Internet Avail.
Heating Baseboard,Steam
Cooling Window Unit(s)
Fireplace No
Exterior
Exterior Feature Brick
Waterfront No
Building
Story 2 Story
Foundation Basement
Water Public Water
Structure Type Brick
Schools
School District Detroit City School District
Others
Ownership Private
Assessment Amount $100
Energy Description Natural Gas
Financing Cash,Conventional