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Provided through IDX through Realcomp II Ltd, via CENTURY 21 Affiliated. Courtesy of Re/Max First and Realcomp Ii Ltd. Copyright 2016 Realcomp II Ltd. Shareholders

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11603 MITCHELL Street - A fantastic money maker in the heart of Hamtramck. Three units have two bedrooms and 800 sq ft, two are one bedroom at 550 sq ft, and a separate two bedroom building is included that makes the five unit total. Four of five units are rented out with quiet tenants on monthly leases, one unit lived in by owner. So income is $1775/mo but projected at $2275 once all five are rented. Gutted for a remodel in the early 1990's with new electric, plumbing, doors, windows and new drywall put in. Each unit now needs cosmetic work including paint and some new kitchen & bath flooring. See the very conservative ROI calculations linked to this listing that prove over 20% return on investment at asking price even with 8.3% vacancy and $10,000 in updates (both which are high estimates). Hard to make 20% in the stock market - it doesn't get any more no-brainer than this.

Listing information

  • MLS® ID: 216022997
  • Baths: 5 (Full: 5 3/4: 0 1/2: 0 Other: 0)
  • New Construction: No
  • Lot Size: 40x165
  • Subdivision: D W Simons' Highland Block 5
  • Style: Apartment
  • Status: Active
  • Foreclosure: No
  • County: Wayne
  • Year Built: 1950
  • Stories: 0
  • Total Square Footage: 3,315 ($36.17 per sq. foot)
  • School District: Hamtramck

Features

Architecture Level 2 Story
Architecture Style Upper/Lower Apartment
Basement Type Interior Access, Private, Unfinished
Exterior Features Outside Lighting
Foundation Details Basement
Foundation Materials Block
Heating Forced Air
Heating Fuel Gas
Income Projection Actual
Interior Features Pets Allowed
MF Parking On Street
Other Assessment - 0, Basement YN - 1, Encroachment YN - 0, Exterior Features - Outside Lighting, Frontage Feet - 40, Gross Scheduled Income - 27300.00, Inventory List YN - 0, Land Contract YN - 0, Legal Rental Certified YN - 1, Monthly Rental Income - 2275, Net Operating Income - 21300.00, Number Of Units Leased - 5, Number Of Units Total - 5, Restrictions YN - 0, Sqft Total Bsmt - 1000, Tax Amount Summer - 2484.0000, Tax Amount Winter - 1637.0000, Unit Efficiency Number Of - 0, Unit One Bed Number Of - 2, Unit Three Bed Number Of - 0, Unit Two Bed Number Of - 3, Waterfront YN - 0, Year Remodeled - 1991
Ownership Status Private Owned, Short Sale - No
Rent Includes Water/Sewer
Road Frontage Type Paved
Zoning Residential
Provided through IDX through Realcomp II Ltd, via CENTURY 21 Affiliated. Courtesy of Re/Max First and Realcomp Ii Ltd. Copyright 2016 Realcomp II Ltd. Shareholders