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19143 BERG Road Detroit, MI 48219
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Key Details
Sold Price $1,760,000
Property Type Multi-Family
Sub Type Common Entry Building
Listing Status Sold
Purchase Type For Sale
Square Footage 39,816 sqft
Price per Sqft $44
Subdivision More Than One Legal Involved
MLS Listing ID 20240042177
Style Common Entry Building
Bedrooms 40
Full Baths 40
Half Baths 8
Year Built 1963
Annual Tax Amount $34,207
Lot Size 1.260 Acres
Property Sub-Type Common Entry Building
Property Description
Lucrative Investment Opportunity: Well-Established 40-Unit Apartment Building!
*Call for Offers for Monday July 1st at 3 pm.*
Seeking a stable and profitable investment? Look no further than this exceptional 40-unit apartment complex located in Detroit. The property boasts a strong rental history and excellent income potential.
Currently generating a gross annual income of approximately $324,000 with a projected Net Operating Income (NOI) of $227,000 for 2024, this investment offers proven performance. There's also significant value-add opportunity: reach full capacity and unlock even greater income. Projected gross income upon full occupancy is $432,000.
The complex caters to a wide range of renters with a diverse unit mix of spacious 2-bedroom townhouses (8 units), regular 2-bedroom units (8 units), and efficient 1-bedroom units (24 units). Landlord currently covers water, gas, and electric.
Don't miss out on this income-generating gem! Showings require advanced notice to respect current tenants. Contact us today to schedule a showing and learn more about this opportunity in a desirable location. Proof of funds and/or financing is required to schedule a showing.
Location
State MI
County Wayne
Area Det - 6 To 8, Grnfld To Limits
Zoning Commercial,Multi-Family
Interior
Hot Water Natural Gas
Heating Baseboard, Steam
Cooling Window Unit(s)
Exterior
Exterior Feature Fenced
Garage Spaces 40.0
Roof Type Asphalt,Rubber
Building
Foundation Basement
Sewer Public Sewer (Sewer-Sanitary)
Water Public (Municipal)
Structure Type Brick
Schools
School District Detroit
Others
Assessment Amount $100
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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