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19260 Collinson
Eastpointe, MI 48021 ·

6 Units · Multifamily For Sale

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11 % Cap Rate - Apartment for Sale

Price N/A Property Use Type Investment
No. Units 6 Cap Rate 11%
Building Size 3,850 SF No. Stories 1
Property Type Multifamily Year Built 1958
Property Sub-type Garden/Low-Rise
Listing ID: 16069886 Date Created: 01/22/2009 Last Updated: 07/30/2013

Description

Currently 100% leased with strong occupancy track record. 11% cap rate! Ranch style brick building features 5 (1) bedroom and 1 (2) bedroom unit. Each unit has own front door and back door and separate electric meters. Tenant pays heat (electric baseboard).Laundry room is ready to go for additional income, just need to hookup washer/dryer. There is an attached garage that can be used for storage, maintenance, or possibly turned into an additional 7th rental unit to increase income (conceptual drawing completed). Updates include: new roof, new water heater, and 75% of units with new appliances. Good location and neighborhood - close to st. john hospital and Eastpointe Mall. Confidential sale. Do not approach tenants. Proof of funds required prior to any showing of property.

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Highlights

  • 100 % Leased
  • Brick Ranch Style
  • Strong Rental History
  • Strong 11 % Cap Rate
  • Tenant Pays Heat (electric baseboard) & Electric

Research

19260 Collinson, Eastpointe, MI 48021 (Macomb County)

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