10 Unit Apt Complex - Detroit, MI - GREAT RETURN ON INVESTMENT

[Jim Bowser]

100% Occupied Off Market "10 Unit" Apartment!  EXCELLENT INVESTMENT
18037 Pelkey St. Detroit, MI 48205

Investment Details

10 unit Apartment Building. Brick. 100% Occupied. Owned 17 years. No property management company in place, family manages on their own. 1 unit needs some updating but the tenant has been renting the unit for over 10 years. We have all rent rolls & lease agreements. All current on utilities and taxes no mortgages no liens. Not a distressed sale.

Monthly Income:

Total Monthly Income: $4,140.00
Gross Annual Income: $49,680.00

Tenants Pay: Electricity
Owner Pays: Water, Gas & Taxes
Water & Gas: $6,400/yr combined
Taxes: $5000/yr
Insurance: $2,295/yr
Annual Expenses: $13,695.00(Self Managed)Annual Expenses: $18,758.96(w/ 10% Management)
Annual NOI(w/ 10% Management): $31,017.04
Annual NOI(Self Managed): $35,985.04
Buy Now:$160k $10k EMD

Photos & ROI Spreadsheet

https://www.dropbox.com/sh/s4oayr53uo636wr/AAAt98E5YaCBC8qMhDxc_gsHa?dl=0

Additional Information
The first one with signed contract and EMD wins the deal!

If not the principal buyer, please add your fee on top.
Seller pays all current & past due taxes & water.
Buyer pays all closing costs.
Sold as-is. POF required with all offers, unless we already have it on file.

Please do your own due diligence. If you are interested, make an offer or feel free to contact us with any questions:

Jim Bowser

[email protected]

(586) 242-6238