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12801 KERCHEVAL Street

$ 1,375,000


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: 12801 KERCHEVAL ST
Zip: 48215
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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, © 2022 Realcomp II Ltd. Shareholders.

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