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48206 Market info

$365,000

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  • 4 Units
  • 4,800 SqFt
  • MLS# 20240062807
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REDUCED. LOCATED 6 MINUTES FROM THE INFAMOUS BOSTON EDISON HISTORIC DISTRICT, YOU WILL FIND 2638-2640 RICHTON NESTLED ON A 6,534 SQUARE FOOT LOT IN A QUIET NEIGHBORHOOD OF HOMEOWNERS. THIS JEWEL HAS A BRAND NEW TEAR OFF 40 YEAR CROWN ROOF AND CONSISTS OF 4 RECENTLY REMODELED, TWO BED ROOM HOMES. SHE HAS BEEN CAREFULLY UPGRADED AND HAS NEWLY INSTALLED FURNACE’S AND HOT WATER TANKS. IN ADDITION, EACH UNIT HAS BRAND NEW PLUMBING BRAND NEW ELECTRICAL AS WELL TO INSURE MAINTENANCE FREE CASH FLOW. EACH SPACIOUS DWELLING HAS FRESHLY ROLLED PAINT AND BRAND NEW HARDWOOD OR CARPET WITH TOP OF THE LINE UNDERLAYMENT. THIS BEAUTY HAS JUST BEEN LEASED WITH 4 SECTION 8 TENANTS AND THE MONTHLY DIVIDENDS OF 5,301 ARE PAID IN FULL BY THE FEDERAL GOVERNMENT. TENANTS PAY ALL THE UTILITIES WHICH ALLOWS THIS INVESTMENT TO PAY A RETURN OF JUST UNDER 20 PERC. THE TAXES HAVE BEEN REDUCED TO ROUGHLY 200 PER MONTH. THIS DIAMOND WILL WRAPPED AROUND A LUCKY OWNER'S FINGER SOON! NO SHOWINGS WITHOUT ACCEPTED FULL LIST OFFER. LET'S CLOSE!

Property Information

Status
Active 
Address
2638 Richton Street 
City
Detroit 
Zip
48206 
Year Built
1925 
Style
Quadruplex 
Possession
At Close 
Architecture
2 Story 
Listing Date
08/23/2024 
Subdivision
Linwood Heights Sub (plats) 
County
Wayne 
Above Grade SqFt
4,800 
Total No of Units
4 

School Information

School District
Detroit 

Taxes

Summer Taxes
$1,431 
Winter Taxes
$141 

Rooms and Land

Lot Dimensions
53.00 x 121.00 
Total Acres
0.15 

Features

Style
Quadruplex 
Basement
Unfinished 
Heating
Natural Gas, Wall/Floor Furnace 

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years
annual
annual

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  • Market Statistics
  • Property History
  • Schools Information
  • Local Business
Market Statistics
Property History
MLS Number New Status Previous Status Activity Date New List Price Previous List Price Sold Price DOM
20240062807 Sep 5 2024 3:36PM $365,000 $375,000 42
20240062807 Aug 29 2024 12:36PM $375,000 $400,000 42
20240062981 Active Aug 23 2024 2:05PM $400,000 42
20240062807 Active Aug 23 2024 2:16AM $400,000 42
20230003213 Sold Pending Aug 3 2023 3:06PM $70,000 126
20230003213 Pending Active May 19 2023 10:05AM $94,000 $120,000 126
20230003213 Active Jan 13 2023 2:36PM $120,000 126
School Information
Local Business

Learn More About This Listing

Contact Customer Care

Mon-Fri 9am-9pm Sat/Sun 9am-7pm

248-304-6700

Contact Customer Care

Mon-Fri 9am-9pm Sat/Sun 9am-7pm

248-208-3883

By proceeding, you consent to receive calls, emails, and texts from Real Estate One and others about your inquiry and other home-related matters, but not as a condition of any purchase. To opt-out, you can reply 'stop' to texts or click the unsubscribe link in the emails. Msg/data rates may apply. View Privacy Policy.

Listing Broker

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Listing Courtesy of 1st Michigan Real Estate

Office Address 125 Arcola

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2638 Richton Street Detroit
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$365,000
For Sale • No. of Units: 4