1739 Central St
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1739 Central St
6 Unit Apartment Building $615,000 ($102,500/Unit) 10.53% Cap Rate Detroit, MI 48209
Executive Summary
Great investment opportunity! Newly updated 6 unit occupied apartment building with leases in place in Southwest Detroit. Your tenants will enjoy all that Mexican Town has to offer! The entire building has been rental certified and has passed lead inspection by the city of Detroit. There are a total of 6 two bedroom units. 5 units are currently occupied while the remaining 1 unit is vacant. The vacant unit has been cleaned and freshly painted and are currently being shown to fill with tenants. The building is separated into two entrances. The first entrance includes the front two units and the side entrance leads to the remaining 4 units. Each unit is separately metered. All furnaces for the building have been updated in 2020.
The seller is opening to seller financing.
The seller is opening to seller financing.
Financial Summary (Pro forma - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Net Operating Income |
-
|
-
|
Financial Summary (Pro forma - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
| Price | $615,000 | Apartment Style | Low Rise |
| Price Per Unit | $102,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.19 AC |
| Cap Rate | 10.53% | Building Size | 5,308 SF |
| No. Units | 6 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built/Renovated | 1927/2020 |
| Price | $615,000 |
| Price Per Unit | $102,500 |
| Sale Type | Investment |
| Cap Rate | 10.53% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.19 AC |
| Building Size | 5,308 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1927/2020 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 6+1 | 6 | - | 584 |
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Walk Score ®
Very Walkable (72)
PROPERTY TAXES
| Parcel Number | 20-004989 | Improvements Assessment | $0 (2024) |
| Land Assessment | $0 (2024) | Total Assessment | $14,400 (2024) |
PROPERTY TAXES
Parcel Number
20-004989
Land Assessment
$0 (2024)
Improvements Assessment
$0 (2024)
Total Assessment
$14,400 (2024)
zoning
| Zoning Code | R2 (Residential District) |
| R2 (Residential District) |
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1739 Central St
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