11603 Mitchell St, Hamtramck 48212

$119,900

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MLS#: 216022997
• For Sale
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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.

Property Information    

Status
Active 
Address
11603 Mitchell St 
City
Hamtramck 
Zip
48212 
Year Built
1950 
Style
Upper/Lower Apartment 
Possession
Neg 
Architecture
2 Story 
Listing Date
03/14/2016 
Subdivision
D W Simons' Highland Block 5 
County
Wayne 
Above Grade SqFt
3,315 

School Information

School District
Hamtramck 

Taxes

Taxes
$4,121 
Summer Taxes
$2,484 
Winter Taxes
$1,637 

Rooms and Land

Number of Units

Features

Style
Upper/Lower Apartment 
Exterior Features
Outside Lighting 
Basement
Interior Access, Private, Unfinished 
Heating
Forced Air, Gas 

Listing Video for 11603 Mitchell St, Hamtramck MI 48212

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Listing Broker

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Listing Courtesy of Re/Max First
Office Address 36594 Moravian