7
See all 7 photos
$1,000,000
Est. payment /mo
16 Beds
16 Baths
10,590 SqFt
Active
18059 Hoover ST Detroit, MI 48205
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Key Details
Property Type Multi-Family
Sub Type MultiFamily
Listing Status Active
Purchase Type For Sale
Square Footage 10,590 sqft
Price per Sqft $94
Subdivision Onahome Sub
MLS Listing ID 58050199868
Bedrooms 16
Full Baths 16
Year Built 1948
Lot Size 0.460 Acres
Acres 0.46
Property Sub-Type MultiFamily
Property Description
Calling all investors! 16-unit apartment complex featuring all one-bedroom, one-bath units. Extensively updated with new plumbing, updated electrical, newer windows, and brand-new furnaces. Half the units offer electric baseboard heat, while the others have individual furnaces. Tenants pay gas and electric, keeping operating costs low. Units have been renovated with updated kitchens and baths, new flooring, fresh paint, and stainless steel appliances. 90%+ occupied and generating a strong 12% cap rate. Property has completed Step 1 of the Pilot Program, with seller working toward full approval with two steps remaining. Don't miss this great investment opportunity!
Location
State MI
County Wayne
Area Area05054Det8Togratiothoustonto7
Interior
Heating Baseboard, Electric, Natural Gas, Other Heating Source, Separate Meters
Fireplace No
Exterior
View Y/N No
Building
Foundation Basement
Sewer Public Sewer
Water Public
New Construction No
Schools
High Schools Detroit
School District Detroit
Others
Acceptable Financing Cash
Listing Terms Cash
Special Listing Condition ShortSaleNo, Standard
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Listed by Justin Zehel of Keller Williams Paint Creek
NEARBY SCHOOL & BUSINESS
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