A fantastic money maker in the heart of Hamtramck. Three units have two bedrooms and 800 sq ft, two are one bedroom at 550 sq ft, and a separate two bedroom building is included that makes the five unit total. Four of five units are rented out with quiet tenants on monthly leases, one unit lived in by owner. So income is $1775/mo but projected at $2275 once all five are rented. Gutted for a remodel in the early 1990's with new electric, plumbing, doors, windows and new drywall put in. Each unit now needs cosmetic work including paint and some new kitchen & bath flooring. See the very conservative ROI calculations linked to this listing that prove over 20% return on investment at asking price even with 8.3% vacancy and $10,000 in updates (both which are high estimates). Hard to make 20% in the stock market - it doesn't get any more no-brainer than this.
- 11603 Mitchell St
- Year Built
- Upper/Lower Apartment
- 2 Story
- Listing Date
- D W Simons' Highland Block 5
- Above Grade SqFt
- Summer Taxes
- Winter Taxes
Rooms and Land
- Number of Units
- Upper/Lower Apartment
- Exterior Features
- Outside Lighting
- Interior Access, Private, Unfinished
- Forced Air, Natural Gas
Listing Video for Hamtramck MI 48212
Listing Courtesy of Re/Max First
Office Address 36594 Moravian Ste A
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