MI > Detroit > Mi
Detroit, MI 48219 5621,19143 BERG Road
Detroit, MI 48219 5621,19143 BERG Road
Detroit, MI 48219 5621,19143 BERG Road
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$1,799,900
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48 BA
39,816 SqFt
Contingent

19143 BERG Road Detroit, MI 48219 5621

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Morgan Beilfuss

Morgan Beilfuss

+1(989) 277-7860

UPDATED:

10/24/2024 05:49 PM

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

MI RealSource (Lenawee County/Saginaw Board/Southeastern Border/Greater Shiawassee)
Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource.
Listed by EXP Realty LLC

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Morgan Beilfuss

Agent | License ID: 6501277052

+1(989) 277-7860

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19143 BERG Road