MLS # 26015372 (Michigan Regional Information Center (MichRIC))

INVESTMENT PORTFOLIO SALE - TWO FULLY LEASED DUPLEXES - PACKAGE PRICE $235,000. Includes 37 W Woodward Ave and 3918 High St in Ecorse, both fully occupied with strong tenants and immediate cash flow. Portfolio totals four rental units with a combined monthly income of approximately $4,763 and annual gross income of approximately $58,304. Current NOI is approximately $43,381, offering an exceptional cap rate with upside potential.37 W Woodward features two 2-bedroom units renting for $900 and $1,000 per month. 3918 High St features two 3-bedroom units renting for approximately $1,500 and $1,363 per month. Both properties include separate basements, individual utilities, and consistent tenant payment history.Properties must be sold together; the seller will not separate them. Financials, rent roll, and supporting documentation are available after NDA execution. Showings only after an accepted Letter Of Intent (LOI)-. DO NOT DISTURB TENANTS.
Source: SparkMLS
Listed at $235,000.
Annual property taxes run approximately $4,909 ($409/month). Tax figure is from the MLS listing record; verify with the county treasurer for the most current amount.
Electric service is provided by DTE Electric Company; natural gas by DTE Gas Company.
Location
Construction & Systems
Sale & Financing
Source: SparkMLS
Source: SparkMLS
Legal Description
496D8B 496E40B THAT PART OF LOT 8 DESCRIBED AS BEGINNING AT A POINT ON THE N LINE OF SAID LOT DISTANT S 74D 49M E 35.0 FT FROM THE NW CORNER OF LOT 8 AND PROCEEDING TH S 74D 49M E ALONG SAID N LINE 15.15 FT TO THE NE CORNER OF LOT 8 TH S 29D 37M W AL ONG THE ELY LINE OF SAID LOT 60.78 FT TH N 15D 11M E 58.86 FT TO THE POB LAFFERTY AND HEIDE SUBDVN OF PART OF PC 496 LYING SOUTH OF SALLIOTTE ROAD AL
FEMA Flood Zone: Zone X — Minimal flood risk
Source: FEMA NFHLUSDA Rural Development: Eligible — 0% Down Payment Available
Verify eligibility at USDAListed by Jeffrey Brikho
Brikho Properties
Estimate only. Does not include PMI or other fees. Consult a lender for exact rates.
DTE Electric Company
Investor-Owned
DTE Gas Company
Investor-Owned
MI Public Service Commission service territory boundaries.
Property
37 W Woodward Avenue, Ecorse, MI 48229
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Municipality
Ecorse
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County
Wayne County
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