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8259 SCHAEFER Highway

$ 749,000
8259 SCHAEFER HIWY ,
31
Active

Description

EXCELLENT 20 UNIT INCOME PRODUCING TURN-KEY PROPERTY. START MAKING MONEY THE MINUTE YOU CLOSE. MOST TENANTS HAVE BEEN IN THE UNITS ON AVERAGE OF 3-5 YEARS. NEWER WINDOWS, GUTTERS, HEATING, PLUMBING AND ELECTRICAL. TAXES HAVE BEEN APPEALED AND ARE VERY REASONABLE. NOWHERE ELSE CAN YOU PAY LESS THAN $38,000 PER DOOR AND PRODUCE $695 (ON AVERAGE) IN RENTAL INCOME PER MONTH (MULTIPLIED BY 20 DOORS OR UNITS). THIS BUILDING IS A NO-BRAINER FOR ANY INVESTOR LOOKING TO COLLECT THAT STEADY CASH FLOW MONTH OVER MONTH.

Address: 8259 SCHAEFER HIWY
City:
State/County:
Zip: 48228
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Property Id : 27521
Price: $ 749,000
Bedrooms: 20
Bathrooms: 20
Building size: 0.47 acres
Available Space: 13870 sq.ft.
Active Openhouse Count: 0
Architecture Level: 2 Story
Architecture Style: Common Entry Building
Assessment: 100
Basement Type: Common,Common Storage Locker,Unfinished
Baths Full: 20
Baths Half: 0
CDOM: 93
Construction Materials: Brick
County Or Parish: Wayne
Directions: Take Warren east make a left on Schaefer
Directions From EastWest: E
Directions From EastWest Detail: Greenfield
Directions From NorthSouth: N
Directions From NorthSouth Detail: Warren
DOM: 93
Foundation Details: Basement
Foundation Materials: Block
Frontage Feet: 180
Gross Scheduled Income: 166800.00
Heating: Baseboard
Heating Fuel: Natural Gas
Income Projection: Actual
Last Change Type: Back On Market
List Office Name: RE/MAX Team 2000
List Price By Acre: 1593617.0213
Lock Box Type: Appointment
Living Area Source: Assessor
Lot Size Dimensions: 180.00X112.00
MLS: Realcomp II Ltd
MLS Area Major: Det 6-Tire - Grnfld - Livernois
MLS Area Major Number: 05042
MLS Number: 219124048
MF Parking: On Street,Paved
Monthly Rental Income: 12816
Number Of Units Leased: 16
Annual Net Income: 86211.00
Number Of Units Total: 20
Original List Price: 749000.00
Ownership Status: Private Owned,Short Sale - No
Parcel Number: W22I031200C6
Postal City: Detroit
Postal Code Plus 4: 2746
Property Type: Multifamily
Protection Period: 180
Pets Allowed: Yes
Road Frontage Type: Paved
Roof Material: Asphalt
Room Count: 0
School District: Detroit
Settlement: City
Sewer: Sewer-Sanitary
Short Sale: No
State Equalized Value: 153000.0000
Street Name: SCHAEFER
Street Number: 8259
Street Suffix: Highway
Subdivision Name: ESPER GARDENS (PLATS)
Sqft Combined: 13870
Sqft Total Bsmt: 4850
Table: Multi Family
Tax Amount Summer: 8435.0000
Tax Amount Winter: 977.0000
Tax Legal Description: W SCHAEFER 79 THRU 71ESPER GARDENS L47 P22 PLATS, W C R 22/547 180X112.75
Title: Private - Owned
Total Tax: 9412.0000
Unit Count: 2
Unit Efficiency Number Of: 0
Unit Four Bed Number Of: 0
Unit Loft Number Of: 0
Unit One Bed Number Of: 16
Unit Three Bed Number Of: 0
Unit Two Bed Number Of: 4
Water Heater Fuel: Natural Gas
Water Source: Municipal Water
Year Built: 1956
Year Remodeled: 2018
Zoning: Multi-Family
Customer Comment: Yes
Encroachment: No
Exclusions: No
Existing Lease: Yes
Inventory List: Yes
Land Contract: No
Legal Rental Certified: Yes
Publish Sale Price: Yes
Restrictions: No
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 RE/MAX Team 2000 and Realcomp, © 2021 Realcomp II Ltd. Shareholders.

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