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USA Country: USA (909) | Region: Michigan

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Found 1 Michigan properties for sale

(€ 2,834,773  £ 2,444,141)
$ 3,150,000


Detroit, Michigan USA

Asking: $ 3,150,000

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This is a fantastic opportunity to acquire a quality apartment complex in a popular town in Michigan which is offered for sale in very good condition and benefits from 97% occupancy. The blocks comprise 4 studio apartments averaging 400 sq.ft let at $450 per month, 77 one bedroom apartments averaging 600 sq.ft let at $625 per month and 39 two bedroom apartments averaging 750 sq. ft. let at $750 per month. KEY FINANCIALS: SALES PRICE: $3,150,000 CLOSING COSTS: $25,000 1% AGENCY FEE: 31,500 TOTAL CAPITAL REQUIRED: $3,206,500 GROSS RENTAL INCOME: $950,100 LAUNDRY: $1,650 VENDING MACHINE: $780 PARKING, KET AND PET FEES: $16,400 LESS: 5% VACANCY $47,505 EFFECTIVE OPERATING INCOME: $873,920 EXPENSES/RUNNING COSTS: 10% PROPERTY MANAGEMEN...
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Welcome to our Michigan property for sale page.

Find Michigan properties using the search facility provided top of the page or use the region links to search through specific Michigan real estate regions. We have real estate ads listed from agents and direct by owners, whether you are buying a second home in Michigan, investment property in Michigan or looking to relocate you will find all of our listings come with prices and pictures. To search for a specific type of property, select your dwelling type, Villa, House, Apartment, Condo, Townhouse, Land, Ruin, Barn, Farm, Chateau, Lake, Island, Castle, Flat, Penthouse, lakeside cabins, skiing chalets, Hotel or even Commercial properties from bars, restaurants and retail shops. You can also search for villas with pools or by property sale type, Off Plan, New Build or Resale real estate listings. All of our Michigan property adverts are updated daily and you are free to contact the owner or agent directly. We now have a large selection of Michigan real estate adverts, from cheap Michigan property to luxury real estate in Michigan ranging in the millions. Thinking of selling your own property in Michigan See our advertising page for full details, including agent accounts.
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