Global Property Guide

Financial Information for the Residential Property Buyer

Townhouse

Full Description

This is a unique opportunity to acquire a large triplex property that has been fully renovated and Section 8 approved. All three apartments are currently tenanted by great Section 8 tenants and the property is currently generating $28,296 per year.On the ground floor you have a large three bed apartment, then upstairs you have two separate one bedroom apartments, this property is under management by one of the leading Detroit management companies.This property is located in Robert Oakman which is just 3.4 miles from the famous University District. It is also only 3.4 miles from the historic district of Boston Edison.The area gets its name from the developer Robert Oakman who proposed plans in the 1920’s to build affluent houses on the outskirts of the University District. Most of the properties are large, attractive brick colonial and tudor homes with landscaped yards and were built around 1929.

 

Investment Details

 

$28,296 rent a year.
$2,496 management fee.
$1,916 taxes.
$800 insurance.
= 27% net return.

Key Information

Property ID: 22726096
Location: USA, Michigan, Wayne County, Detroit
Categories:
  • House
  • Townhouse
Bedrooms: 5
Bathrooms: 3
Price:
  • £53,687
  • €61,260
  • $70,900
Short Description:

This huge five bedroom multi unit house is split into three apartments with a huge rental of $28,296 per year.