Detroit, MI 48215 2729,12801 KERCHEVAL Street
Detroit, MI 48215 2729,12801 KERCHEVAL Street
Detroit, MI 48215 2729,12801 KERCHEVAL Street
41
$1,929,017
$1,375,000
40.3%
Est.Price: ?

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98 BA
39,000 SqFt

12801 KERCHEVAL Street Detroit, MI 48215 2729

Est. payment /mo
SOLD DATE : 10/16/2020

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Key Details

Sold Price $1,929,017

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Sold

Purchase Type For Sale

Square Footage 39,000 sqft

Price per Sqft $49

Subdivision Mi

MLS Listing ID 21633395

Sold Date 10/16/20

Style 2 Story

Full Baths 64

Half Baths 34

Year Built 2011

Annual Tax Amount $28,014

Lot Size 7.000 Acres

Acres 7.0

Lot Dimensions 625x550x625x550

Property Description

Gray Street Phase 1 and 2 consists of four 2 bedroom and thirty 3 bedrooms apartment units and three individual 1,000 square foot commercial spaces. Phase 1 was built in 2005 as affordable housing and in its last year of a 15 year tax credit deal. Phase 2 was built in 2011 is in its 8th year of the 15 year extended period. All buildings meticulously maintained. 100% occupied with some of the tenants living here since developed, waitlist for future residents. Phase 1 consists of 15 duplexes (30 units total) w/ indiv. driveways and detached garages per unit. Per the regulatory docs, 20% of the property must be rented to families at 45% median income and the other 80% must be rented at 50% income. Phase 2 consists of 1 building that has 3 COMMERCIAL UNITS of 1,000 square feet each and 4 apartment above. Phase 2 has an income limit of 60% of median income. Phase 1 is on the 4% PILOT program for taxes and Phase 2 is on the 10% PILOT program.

Location

State MI

County Wayne

Area Detroit (82001)

Zoning Multi-Family

Rooms

Basement Poured, Outside Entrance

Interior

Interior Features Cable/Internet Avail., DSL Available, Fire Sprinkler

Heating Forced Air

Cooling Central A/C

Exterior

Exterior Feature Brick, Vinyl Siding

Amenities Available Playground, Private Entry

Waterfront No

Building

Story 2 Story

Foundation Basement

Water Public Water

Structure Type Brick,Vinyl Siding

Schools

School District Detroit City School District

Others

Ownership Private

Energy Description Natural Gas

Acceptable Financing Conventional

Listing Terms Conventional

Financing Conventional

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MI RealSource (Lenawee County/Saginaw Board/Southeastern Border/Greater Shiawassee)
Listed by @properties Christie's Int'l R.E. Detroit
Bought with LPS

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Morgan Beilfuss

Agent | License ID: 6501277052

+1(989) 277-7860

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