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$ 3,010,000
Est. payment /mo
Active
25911 Michigan Avenue Inkster, MI 48141 2477
34 Baths
22,550 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 22,550 sqft
Price per Sqft $133
Subdivision Mi
MLS Listing ID 61038502
Style 2 Story
Full Baths 32
Half Baths 2
Year Built 1960
Annual Tax Amount $55,597
Lot Size 0.880 Acres
Acres 0.88
Lot Dimensions 106 x 346
Property Sub-Type Multi-Family
Property Description
AVENUE APARTMENTS | PREMIER 32-UNIT MULTIFAMILY INVESTMENT | 100% OCCUPANCY. Thirty-two unit, fully occupied multifamily investment on the Michigan Avenue corridor in Inkster. Repositioned in 2024 through a comprehensive, down-to-the-studs renovation of the interiors and exterior, including a new roof, windows, interior rehabilitation, complete exterior modernization, and substantial capital improvements throughout the building. Operating at full occupancy, with scheduled rental income of thirty-one thousand nine hundred sixty dollars per month. The asset features a balanced mix of market-rate leases and Housing Choice Voucher contracts, providing a diversified and established income stream. The building is all-electric with NO NATURAL GAS service on site. This eliminates boiler, furnace, and gas-line maintenance from the operating budget, and consolidates the property onto a single energy source. Electric service expense are currently allocated between ownership and tenants keeping utility expense controlled.Additional opportunities for revenue enhancement include laundry operations, ancillary income streams, and potential utility expense recovery. Positioned along the Michigan Avenue corridor, the property offers convenient connectivity to Dearborn, Detroit Metropolitan Wayne County Airport, I-94, and the surrounding employment and commercial centers.
Location
State MI
County Wayne
Area Inkster (82080)
Interior
Heating Other-See Remarks
Cooling Other
Fireplace No
Exterior
Exterior Feature Brick, Vinyl Siding
Building
Story 2 Story
Foundation Slab
Water Public Water at Street
Structure Type Brick,Vinyl Siding
Schools
School District Westwood Community Schools
Others
Ownership Private
Financing Cash,Conventional
Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource.
Listed by Premier Realty Service LLC
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