19143 BERG Road

Detroit,MI 48219

$ 1799900

- Bed

48 Baths

- SqFt


Key Details

Property Type Multi-Family

Listing Status Active Under Contract

Purchase Type For Sale

MLS Listing ID 20240042177

Originating Board Realcomp

Year Built 1963

Annual Tax Amount $34,207

Lot Size 1.260 Acres

Acres 1.26

Lot Dimensions Irregular

Property Description

Lucrative Investment Opportunity: Well-Established 40-Unit Apartment Building!*Call for Offers for Monday July 1st at 3 pm.*Seeking a stable and profitable investment? Look no further than this exceptional 40-unit apartment complex located in Detroit. The property boasts a strong rental history and excellent income potential.Currently generating a gross annual income of approximately $324,000 with a projected Net Operating Income (NOI) of $227,000 for 2024, this investment offers proven performance. There's also significant value-add opportunity: reach full capacity and unlock even greater income. Projected gross income upon full occupancy is $432,000.The complex caters to a wide range of renters with a diverse unit mix of spacious 2-bedroom townhouses (8 units), regular 2-bedroom units (8 units), and efficient 1-bedroom units (24 units). Landlord currently covers water, gas, and electric.Don't miss out on this income-generating gem! Showings require advanced notice to respect current tenants. Contact us today to schedule a showing and learn more about this opportunity in a desirable location. Proof of funds and/or financing is required to schedule a showing.

Location

State MI

County Wayne

Area Wayne County - 100

Zoning Commercial,Multi-Family

Direction North of 7 Mile

Interior

Heating Baseboard,Steam

Cooling Window Unit(s)

Exterior

Utilities Available Cable Connected

View Y/N No

Roof Type Rubber

Building

Sewer Public

Water Public

Structure Type Brick

Schools

School District Detroit

Others

Tax ID W22I119370S001

Acceptable Financing Cash,Conventional

Listing Terms Cash,Conventional

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