Detroit, MI 48205 2671,18435 Hoover Street
Detroit, MI 48205 2671,18435 Hoover Street
Detroit, MI 48205 2671,18435 Hoover Street
17
$720,000
$700,000
2.9%
Est.Price: ?

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16 BA
9,141 SqFt

18435 Hoover Street Detroit, MI 48205 2671

Est. payment /mo
SOLD DATE : 10/28/2022

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Key Details

Sold Price $720,000

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Sold

Purchase Type For Sale

Square Footage 9,141 sqft

Price per Sqft $78

Subdivision Mi

MLS Listing ID 60142015

Sold Date 10/28/22

Style 2 Story

Full Baths 16

Year Built 1957

Annual Tax Amount $7,165

Lot Size 0.280 Acres

Acres 0.28

Lot Dimensions 120.00 x 101.00

Property Description

18435 Hoover Street is a 16-unit multifamily apartment building located in the Denby neighborhood in northeast Detroit in Wayne County. Built in 1957, the brick masonry building features 12 one-bedroom units (600 square feet), 4 two-bedroom units (650 square feet) and a classic low-rise, mid-century style courtyard with balconies and patio areas. Rent includes one parking space per unit plus guest parking. The building is 100% occupied with section 8 tenants and sits on .28 acres of landscaped grounds with green areas, concrete walkways, and shrubbery. The roof and windows were replaced in 2018 and the units underwent a full renovation in 2022 with new kitchens, electric baseboard heating, electrical, carpets and flooring. Offered at 10.7% cap rate, 18435 Hoover Street is an opportunity for investors to acquire a fully stabilized asset at an attractive price point. Rents range from $925-$1,100 with landing paying all utilities, onsite laundry with two washers and two dryers. Offers due by Thursday, October 6th.

Location

State MI

County Wayne

Area Detroit (82001)

Zoning Multi-Family

Rooms

Basement Block

Interior

Heating Baseboard, Electric Heat

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 Electric

Acceptable Financing Cash

Listing Terms Cash

Financing Cash,Conventional

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MI RealSource (Lenawee County/Saginaw Board/Southeastern Border/Greater Shiawassee)
Listed by O'Connor Realty
Bought with LPS

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Morgan Beilfuss

Agent | License ID: 6501277052

+1(989) 277-7860

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