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$ 465,000
Est. payment | /mo
5 Baths
4,356 Sqft Lot
$ 465,000
Est. payment | /mo
5 Baths
4,356 Sqft Lot
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Municipality Dearborn City
Subdivision Dearborn City
MLS Listing ID 20261045677
Year Built 1930
Annual Tax Amount $6,385
Lot Size 4,356 Sqft
Acres 0.1
Lot Dimensions 35X121
Source Realcomp
Property Description
EXCELLENT 5-UNIT MULTIFAMILY INVESTMENT OPPORTUNITY LOCATED AT 6037 APPOLINE. THIS WELL-MAINTAINED BUILDING OFFERS A STRONG UNIT MIX, STABLE TENANCY, AND CLEAR UPSIDE THROUGH LEASING THE CURRENT VACANT UNIT. FOUR OF THE FIVE UNITS ARE OCCUPIED WITH CURRENT GROSS RENT OF $3,550 PER MONTH, AND THE LARGEST 1-BEDROOM UNIT, APPROXIMATELY 700 SF, IS CURRENTLY BEING MARKETED AT $925–$950 PER MONTH. THE PROPERTY HAS BENEFITED FROM SEVERAL IMPORTANT IMPROVEMENTS, HIGHLIGHTED BY A FULL BOILER REPLACEMENT COMPLETED IN 2021 WITH CITY CERTIFICATION. THIS IS ONE OF THE STRONGEST CAPITAL IMPROVEMENTS ON THE BUILDING. ADDITIONAL UPDATES INCLUDE UNIT RENOVATIONS, FLOORING UPDATES, BATHROOM AND KITCHEN IMPROVEMENTS, AND EMERGENCY/EXIT LIGHTING INSTALLED FOR THE CERTIFICATE OF OCCUPANCY. APPLIANCES HAVE ALSO BEEN REPLACED AS NEEDED ON TURNOVER. WITH TWO LEASES COMMITTED THROUGH 2026 AND 2027, LONG-TERM TENANTS IN PLACE, ON-SITE LAUNDRY, AND RENTAL UPSIDE WITH UNIT 4, THIS PROPERTY OFFERS BOTH IMMEDIATE CASH FLOW AND A VALUE-ADD OPPORTUNITY FOR AN INCOME-FOCUSED BUYER.
Location
State MI
County Wayne
Zoning Multi-Family,Residential
Direction S OF FORD RD W OF MILLER
Interior
Heating Baseboard
Exterior
View Y/N No
Building
Water Public
Structure Type Brick
Schools
School District Dearborn
Others
Tax ID 32821008313019
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Listed by Century 21 Curran & Oberski
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