PLEASE NOTE: THIS IS A PORTFOLIO, NOT A SINGLE HOME. Because of the way LoopNet works, only one address can be listed. For sale is a 76-unit portfolio of single family homes in Detroit that are being completely renovated and made ready to lease. These are primarily brick homes, many with garages, mostly 2 and 3 bedrooms. They can be purchased individually or as a portfolio. The homes are being leased either to qualified HUD Section 8 or traditional tenants. If leased to non-Section 8 tenants, rental insurance will be obtained to offset risk of default. The houses are priced at a 15.38% return on net rental income, net of taxes, insurance and management fees and closing will take place after the unit or units have been leased and tenanted. Average asking price per home is less than $30,000; however the actual price will be set at closing, based on the above stated return on actual net rent. Occupancy is shown as 100% since closing takes place upon occupancy. FOR FASTER RESPONSE EMAIL FOR MORE INFORMATION.
Zermatt Investments, LLC is pleased to present The HAP Contracted 27 Unit Apartments located at 3220 3258 W. Boston Blvd, Detroit, Michigan 48206 (Wayne County). The approx. 21,348 Sq.Ft. All-Brick, 2-Story Building on 0.71 acres, consisting of 27 units: 18 spacious one bedroom, one bath units of approx.. 782 Sq.Ft. and 9 spacious two bedroom, one bath units of approx. 887 Sq.Ft. Retiring Ownership Directs Immediate Sale of Portfolio. The W. Boston Apartments are currently 98% Occupied. The property is separately/individually metered for electricity and Cooking gas and was built in 1960. Landlord pays Heat, Trash, Water & Sewer. Leased Laundry Units provide additional income. Other amenities include garbage disposals, appliances, and on-site laundry facilities. The Net Annual Operating Income for 2012 was $99,785 or 14.59% Capitalization rate at the asking price of $690,000 ($25,555 per unit). Opportunity to increase income by installing heat baseboards . Some recent Capital Improvements include ALL New windows in 2012. The W. Boston Apartments are currently run by management. No Seller financing available.
Size Upon Req.$79,900
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25,992 SFPrice Upon Req.
Expired LIHTC property. Alexander Court Apartments offers spacious two bedroom apartments in a tree lined neighborhood setting. Just minutes from downtown Detroit, close to schools, shopping, businesses, entertainment and an assortment of recreational activities. Alexander Court Apartments offers it all, convenience, comfort and style.
41,210 SFPrice Upon Req.
Expiring LIHTC property. Sale subject to new owner maintaining LIHTC compliance. Beautiful community offering extra large 1 and 2 bedroom apartments with private entrances and modern kitchens. Just outside your door is a beautiful courtyard for you to enjoy. Conveniently located near I-94, local grocery stores and other small shops.
22,000 SFPrice Upon Req.
Expiring LIHTC property. Sale subject to new owner maintaining LIHTC compliance. Morang Apartments offers renovated, spacious and tastefully designed one bedroom apartments.
22,511 SFPrice Upon Req.
Expiring LIHTC property. Sales subject to new owner maintaining LIHTC compliance. Premier Apartments offers beautifully designed spacious 1 and 2 bedroom homes.
27,450 SFPrice Upon Req.
Expiring LIHTC property. Sale subject to new owner maintaining LIHTC compliance. Redford Manor North offers spacious 1 and 2 Bedroom apartment homes with all the modern day conveniences.
Expiring LIHTC property. Sale subject to new owner maintaining LIHTC compliance. Redford Manor South offers spacious 1 and 2 Bedroom apartment homes with all the modern day conveniences.
173-Unit apartment property G 83.82% occupied Located adjacent to DetroitGs historic Indian Village DetroitGs resurgence is increasing the need for housing near downtown High-occupancy submarket Significant opportunity to increase resident base and drive up monthly revenue Downtown vacancy rates are quickly approaching historic lows