4
See all 4 photos
$319,900
Est. payment /mo
6 Baths
6,098 Sqft Lot
Active
248 Richter Street River Rouge, MI 48218
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your advisor will contact you to discuss available opportunities.
In-PersonVirtual Tour
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Municipality River Rouge City
Subdivision River Rouge City
MLS Listing ID 20261029620
HOA Y/N true
Year Built 1957
Annual Tax Amount $5,089
Lot Size 6,098 Sqft
Acres 0.14
Lot Dimensions 60X100
Source Realcomp
Property Description
Rare opportunity to own a fully occupied 6-unit multifamily investment property in the heart of River Rouge, conveniently located near Belanger Park and the Detroit Riverfront. This unique ranch-style, single-story apartment building offers a highly desirable layout with no upper or lower units — a major advantage for both tenants and investors due to ease of maintenance, accessibility, and strong long-term rental appeal.The property features four spacious 2-bedroom units and two 1-bedroom units, each with its own private bathroom. All six units are occupied and generating approximately $55,200 annually in gross rental income with an estimated net operating income of approximately $43,000 per year. Tenants are responsible for their own gas and electric utilities, helping keep owner expenses lower and improving overall investment performance. For investors analyzing returns, the numbers make sense and offer an attractive cap rate opportunity depending on financing structure and purchase price.Situated on a prominent corner lot, the property also includes on-site parking. This is an excellent opportunity for investors seeking immediate cash flow, stable occupancy, and a low-maintenance multifamily asset with upside potential.Please do not disturb tenants. Property is being sold as-is. Buyer to verify all information and measurements.
Location
State MI
County Wayne
Zoning Multi-Family
Direction Richter between Oak and Pine
Rooms
Basement Slab
Interior
Heating Forced Air
Exterior
Amenities Available Pets Allowed
View Y/N No
Building
Water Public
Structure Type Brick
Schools
School District River Rouge
Others
Tax ID 50005060048000
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Listed by RE/MAX Team 2000
NEARBY SCHOOL & BUSINESS
GET MORE INFORMATION