25
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$169,999
Est. payment /mo
2 Baths
1,981 SqFt
Active
5569 Drexel ST Detroit, MI 48213
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Key Details
Property Type Multi-Family
Sub Type MultiFamily
Listing Status Active
Purchase Type For Sale
Square Footage 1,981 sqft
Price per Sqft $85
Subdivision Parkside Manor
MLS Listing ID 20261007812
Style Bungalow
Full Baths 2
Year Built 1928
Lot Size 3,484 Sqft
Acres 0.08
Property Sub-Type MultiFamily
Property Description
REDUCED! LOCATED 4 MINUTES FROM THE HISTORIC INDIAN VILLAGE, YOU WILL FIND 5569 DREXEL NESTLED ON A 3,833 SQUARE FOOT LOT IN A QUIET NEIGHBORHOOD OF HOMEOWNERS. THIS CROWN JEWEL BOASTS A BRAND NEW 40 YEAR ROOF TO ENSURE REPEAT DIVIDENDS FOR MANY YEARS TO COME. EVERY WINDOW IN THIS COMPOUND IS BRAND NEW AND SHE HAS BEEN UPGRADED WITH NEW FURNACES, NEW ELECTRICAL, NEW PLUMBING AND HOT WATER TANKS TO INSURE MAINTENANCE FREE CASH FLOW. FURTHERMORE SHE HAS FRESHLY ROLLED PAINT AND BRAND NEW CARPET WITH TOP OF THE LINE UNDERLAYMENT. THIS BEAUTY HAS JUST BEEN LEASED WITH 2 YEAR SECTION 8 TENANTS AND THE MONTHLY DIVIDENDS OF $2178 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%. THE TAXES HAVE BEEN REDUCED TO ROUGHLY $100 PER MONTH. THIS DIAMOND WILL WRAPPED AROUND A LUCKY OWNER'S FINGER SOON! NO SHOWINGS WITHOUT ACCEPTED FULL LIST OFFER.
Location
State MI
County Wayne
Area Area05041Det68Grflddequindre
Rooms
Basement Finished
Interior
Heating Forced Air, Natural Gas
Fireplace No
Exterior
Pool None
View Y/N No
Garage false
Building
Foundation Basement, Block
Sewer Public Sewer
Water Public
New Construction No
Schools
High Schools Detroit
School District Detroit
Others
Senior Community false
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition ShortSaleNo, Standard
Pets Allowed Call
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Listed by Lauryn Johnson of KW Domain
NEARBY SCHOOL & BUSINESS
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