5 Property Detroit Portfolio – Cap Rate 16% – Asking $275K
5 pack in 48238
They’re in great shape and rented at market-rent with long-term tenants! They’re all within 2 blocks of each other.
All 3 bedroom; All rented for $1,200/month.
Tenants have been there between 2-7 years.
Tenants pay water, gas & elec.
New plumbing, new electrical and new windows in all but 1931 Pilgrim.
Roofs in good condition
Here are the addresses with pics:
- 1931 Pilgrim St, Detroit, MI 48238
- 3/1 931 sqft.
- Brick/vinyl, ranch, basement, no garage
- Pics: https://drive.google.com/drive/folders/1Owig1TKTSztvHj_Cwfpb7p89BmAtxIkI
- 2034 Pilgrim St. Detroit, MI 48238
- 3/1.5 896 sqft.
- Aluminum, basement, no garage, extra lot
- Pics: https://drive.google.com/drive/folders/1AjARs8FY5AoYhUweEGH1b_LcvDdFT0ns
- 15521 Log Cabin Detroit, MI 48238
- 3/1 748 sqft
- Wood Siding. Basement. No garage
- Pics: https://drive.google.com/drive/folders/1QPtYFGyQY_u5XfeEDAXLGTPslyoLzeE8
- 15502 Log Cabin Detroit, MI 48238
- 3/1.5 892 sqft.
- Vinyl, Basement, No Garage
- Pics: https://drive.google.com/drive/folders/1Qds6fy92KAhGf1F6_G82fCzhnnWkPrxD
- 15593 Wabash St, Detroit, MI 48238
- 3/1.5 1008 sqft
- Vinyl, Basement, No garage, extra lot
- Pics: https://drive.google.com/drive/folders/1QkswwTGWfwR7uMx7DBhxX6YaGBsS0YQ-
Gross Rent: $6,000/month.Package Price: $275,000 ($55k/door)Cap Rate: 16% (with uncapped prop taxes, maintenance & management)Link to Cap Rate calculations: https://docs.google.com/spreadsheets/d/1IYJmQkie4W6jvl8b-mr9553ovcpCuBkhwVwS6t10-MQ/edit?usp=sharingDo not disturb tenants.Cash Only
Call (248) 422-1003 to book a walk through.
Buyer is responsible to pay all buyer and seller closing costs. Sold as-is. Buyer to verify all information and perform due diligence. $2500 EMD. Contact us today to schedule a walk through.
