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12801 KERCHEVAL Street

$ 1,375,000

Multi-Family in Sales

12801 KERCHEVAL ST , Detroit

Active

Description

Gray Street Phase 1 and 2 consists of four 2 bedroom and thirty 3 bedrooms apartment units and three individual 1,000 square foot commercial spaces. Phase 1 was built in 2005 as affordable housing and in its last year of a 15 year tax credit deal. Phase 2 was built in 2011 is in its 8th year of the 15 year extended period. All buildings meticulously maintained. 100% occupied with some of the tenants living here since developed, waitlist for future residents. Phase 1 consists of 15 duplexes (30 units total) w/ indiv. driveways and detached garages per unit. Per the regulatory docs, 20% of the property must be rented to families at 45% median income and the other 80% must be rented at 50% income. Phase 2 consists of 1 building that has 3 COMMERCIAL UNITS of 1,000 square feet each and 4 apartment above. Phase 2 has an income limit of 60% of median income. Phase 1 is on the 4% PILOT program for taxes and Phase 2 is on the 10% PILOT program.

Address

Address: 12801 KERCHEVAL ST

City: Detroit

State/County: Michigan

Zip: 48215

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Details

Property Id : 24745

Price: $ 1,375,000

Bedrooms: 34

Bathrooms: 64.34

Building size: 7.00 acres

Available Space: 39000 sq.ft.

Active Openhouse Count: 0

Architecture Level: 2 Story

Architecture Style: Duplex

Assessment: 0

Basement Type: Private,Walk-Up Access

Baths Full: 64

Baths Half: 34

CDOM: 61

Construction Materials: Brick,Vinyl

County Or Parish: Wayne

Cooling: Central Air

Directions: Take Conner North off Jefferson, East on Kercheval.

Directions From EastWest: E

Directions From EastWest Detail: Conner

Directions From NorthSouth: N

Directions From NorthSouth Detail: Jefferson

DOM: 61

Exterior Features: Awning/Overhang(s),Fenced,Outside Lighting,Playground,Private Entry,Satellite Dish

Foundation Details: Basement

Foundation Materials: Poured

Frontage Feet: 625

Gross Scheduled Income: 356656.00

Heating: Forced Air

Heating Fuel: Natural Gas

Income Projection: Actual

Interior Features: Cable Available,Fire Sprinkler,High Spd Internet Avail,Programmable Thermostat,Security Alarm (owned)

Last Change Type: New

List Office Name: Alexander Real Estate Detroit, LLC

List Price By Acre: 196428.5714

Lock Box Type: Appointment

Living Area Source: Public Records

Lot Size Dimensions: 625x550x625x550

MLS: Realcomp II Ltd

MLS Area Major: Det: Mcclellan East/Mack To Shor

MLS Area Major Number: 05066

MLS Number: 219070568

MF Parking: Garages,Lighted,Paved

Monthly Rental Income: 29721

Number Of Units Leased: 37

Annual Net Income: 142268.00

Number Of Units Total: 37

Original List Price: 1375000.00

Ownership Status: Private Owned,Short Sale - No

Parcel Number: W21I000770C4

Postal City: Detroit

Postal Code Plus 4: 2729

Property Type: Multifamily

Protection Period: 90

Pets Allowed: Yes

Porch Type: Porch - Covered

Rent Includes: Garbage Pickup

Road Frontage Type: Paved

Roof Material: Asphalt,Rubber

Room Count: 0

School District: Detroit

Settlement: City

Sewer: Sewer at Street

Short Sale: No

Sqft Source: PRD

Street Name: KERCHEVAL

Street Number: 12801

Street Suffix: Street

Subdivision Name: DANIEL J CAMPAUS (PLATS)

Sqft Combined: 39000

Sqft Total Bsmt: 15000

Table: Multi Family

Tax Amount Summer: 20014.0000

Tax Amount Winter: 8000.0000

Tax Legal Description: N KERCHEVAL AVE 200 THRU 193 DANIEL J CAMPAUS SUB L29 P44 PLATS, W C R 21/388 161.04 X 100

Title: Private - Owned

Total Tax: 28014.0000

Unit Count: 2

Unit Efficiency Number Of: 0

Unit One Bed Number Of: 0

Unit Three Bed Number Of: 30

Unit Two Bed Number Of: 4

Water Heater Fuel: Natural Gas

Water Source: Municipal Water

Year Built: 2011

Zoning: Multi-Family

Customer Comment: Yes

Encroachment: No

Land Contract: No

Publish Sale Price: Yes

Waterfront: No

Zone Conform: Yes

Basement: Yes

Down Payment Resource: No

Percent Homestead Exempt: No

Pool: No

IDX provided courtesy of Realcomp II Ltd., via Alexander Real Estate Detroit, LLC and Realcomp, © 2021 Realcomp II Ltd. Shareholders.

© 2021 Realcomp II Ltd. Shareholders. Real estate listings held by brokerages other than Historic Realty Detroit are marked with the Realcomp-approved IDX logo and are provided through IDX through Realcomp II Ltd. IDX information is provided exclusively for the consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Any use of search facilities of data on the site, other than by a consumer looking to purchase real estate, is prohibited. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. Data last updated: 2020-08-12 13:09:56.

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12801 KERCHEVAL Street

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IDX provided courtesy of Realcomp II Ltd., via Alexander Real Estate Detroit, LLC and Realcomp, © 2021 Realcomp II Ltd. Shareholders.

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IDX provided courtesy of Realcomp II Ltd., via Alexander Real Estate Detroit, LLC and Realcomp, © 2021 Realcomp II Ltd. Shareholders.

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