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506 – 508 KENILWORTH Street

$ 298,000
in
506 - 508 KENILWORTH ST ,
85
Active

Description

INVESTMENT PROPERTY 4-UNIT APARTMENT BUILDING. Constructed in 1911. This bright, solid and clean brick apartment building flows with wonderful woodwork + hardwood floors throughout, open living area with large windows, spacious kitchen, 2 comfortable bedrooms plus 3rd room for office/entertaining and large full bathroom. Central stairway leading to the top 2 apartments. Classic tile in the entrance way. Basement is clean, dry with new glass block and hold the new and separated: electrical/ circuit breakers, water heaters, furnaces – all separate and all new! This building is solid and with all the upgrades you will not need to do anything for decades besides collect rent and equity. Currently 3 of the 4 units have long term, month to month, quiet and respectful paying tenants. Rent averages $550 a month which is significantly low for the area. Rents typically go for $1200 for equal space. Rent and equity potential is obvious.

Address

Address: 506 - 508 KENILWORTH ST
City:
State/County:
Zip: 48202
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Details

Property Id : 27363
Price: $ 298,000
Bedrooms: 4
Bathrooms: 4
Building size: 0.10 acres
Available Space: 3280 sq.ft.
Active Openhouse Count: 0
Architecture Level: 2 Story
Architecture Style: Quadruplex
Assessment: 240
Basement Type: Common
Baths Full: 4
Baths Half: 0
CDOM: 39
Construction Materials: Brick
County Or Parish: Wayne
Directions: East of Woodward. North of Holbrook
Directions From EastWest: E
Directions From EastWest Detail: Woodward
Directions From NorthSouth: N
Directions From NorthSouth Detail: Owen
DOM: 39
Foundation Details: Basement
Foundation Materials: Block,Brick
Frontage Feet: 35
Gross Scheduled Income: 60000.00
Heating: Forced Air
Heating Fuel: Natural Gas
Income Projection: Projected
Last Change Type: Back On Market
List Office Name: Braven Enterprises LLC
List Price By Acre: 2980000.0000
Lock Box Type: Appointment
Living Area Source: Public Records
Lot Size Dimensions: 60.00X70.00
MLS: Realcomp II Ltd
MLS Area Major: Det: Livernois-I75 6-Gd River
MLS Area Major Number: 05043
MLS Number: 219120975
Monthly Rental Income: 5000
Number Of Units Leased: 3
Annual Net Income: 53000.00
Number Of Units Total: 4
Original List Price: 325000.00
Ownership Status: Private Owned,Short Sale - No
Parcel Number: W03I002600S001
Postal City: Detroit
Postal Code Plus 4: 1624
Property Type: Multifamily
Protection Period: 12/07/2020
Pets Allowed: Call
Rent Includes: Water/Sewer
Road Frontage Type: Paved
Roof Material: Other
Room Count: 0
School District: Detroit
Settlement: City
Sewer: Sewer-Sanitary
Short Sale: No
State Equalized Value: 13000.0000
Street Name: KENILWORTH
Street Number: 506 - 508
Street Suffix: Street
Subdivision Name: GLOVERS MOTT AVE
Sqft Combined: 3280
Sqft Total Bsmt: 1300
Table: Multi Family
Tax Amount Summer: 573.0000
Tax Amount Winter: 39.0000
Tax Legal Description: S KENILWORTH N 69.50 FT OF LOT 1 N 69.50 FT OF THE W 20 FT OF LOT 2 GLOVERS MOTT AVE SUB L25 P59 PLATS WCR 60 X 69.50
Title: Private - Owned
Total Tax: 612.0000
Unit Count: 4
Unit Efficiency Number Of: 0
Unit Four Bed Number Of: 0
Unit Loft Number Of: 0
Unit One Bed Number Of: 0
Unit Three Bed Number Of: 0
Unit Two Bed Number Of: 4
Water Heater Fuel: Common
Water Source: Municipal Water
Year Built: 1911
Zoning: Multi-Family
Customer Comment: Yes
Encroachment: No
Existing Lease: Yes
Land Contract: No
Legal Rental Certified: Yes
Publish Sale Price: Yes
Waterfront: No
Basement: Yes
Down Payment Resource: No
Percent Homestead Exempt: No
Pool: No
IDX provided courtesy of Realcomp II Ltd., via Braven Enterprises LLC and Realcomp, © 2022 Realcomp II Ltd. Shareholders.

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