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Jefferson Arms Private Residences 4494-96 W Jefferson Ave 4 Unit Apartment Building $240,000 ($60,000/Unit) 7.92% Cap Rate Ecorse, MI 48229
Investment Highlights
- Hardwood Floors, Wet Plaster, Custom Millwork, Marble Window Sills. Windows replaced, 1988. New furnace, hot water heater 2016.
Executive Summary
Two 1 BR 1 bath efficiencies on grade floor, 3 BR 2 bath main floor flat, 2 BR 1 bath upper flat. Custom home, wet plaster, hardwood floors, marble windowsills, custom millwork. Fabulous views of Detroit River, see the ore boats go by. We previously rented to the Captain of the Bob-Lo boat years ago. One mile to Henry Ford Wyandotte Hospital. Two blocks north of the Wyandotte city limits.
Financial Summary (Pro Forma - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$43,500
|
$9.24
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$4,350
|
$0.92
|
| Effective Gross Income |
$39,150
|
$8.32
|
| Taxes |
$3,600
|
$0.76
|
| Operating Expenses |
$5,500
|
$1.17
|
| Total Expenses |
$9,100
|
$1.93
|
| Net Operating Income |
$30,050
|
$6.38
|
Financial Summary (Pro Forma - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $43,500 |
| Annual Per SF | $9.24 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $4,350 |
| Annual Per SF | $0.92 |
| Effective Gross Income | |
|---|---|
| Annual | $39,150 |
| Annual Per SF | $8.32 |
| Taxes | |
|---|---|
| Annual | $3,600 |
| Annual Per SF | $0.76 |
| Operating Expenses | |
|---|---|
| Annual | $5,500 |
| Annual Per SF | $1.17 |
| Total Expenses | |
|---|---|
| Annual | $9,100 |
| Annual Per SF | $1.93 |
| Net Operating Income | |
|---|---|
| Annual | $30,050 |
| Annual Per SF | $6.38 |
Property Facts
| Price | $240,000 | Apartment Style | Townhome |
| Price Per Unit | $60,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.11 AC |
| Cap Rate | 7.92% | Building Size | 4,707 SF |
| No. Units | 4 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1938 |
| Property Subtype | Apartment | Parking Ratio | 3.4/1,000 SF |
| Zoning | R-2 - Residential | ||
| Price | $240,000 |
| Price Per Unit | $60,000 |
| Sale Type | Investment |
| Cap Rate | 7.92% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | C |
| Lot Size | 0.11 AC |
| Building Size | 4,707 SF |
| No. Stories | 3 |
| Year Built | 1938 |
| Parking Ratio | 3.4/1,000 SF |
| Zoning | R-2 - Residential |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
Site Amenities
- Laundry Facilities
- Car Wash Area
- Gas Range
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 2 | $837.50 | 400 - 600 |
| 3+2 | 1 | $1,000 | 1,176 |
| 2+1 | 1 | $1,000 | 1,176 |
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Property Taxes
| Parcel Number | 34-013-01-0012-000 | Total Assessment | $82,200 (2025) |
| Land Assessment | $0 (2025) | Annual Taxes | $3,600 ($0.76/SF) |
| Improvements Assessment | $0 (2025) | Tax Year | 2024 |
Property Taxes
Parcel Number
34-013-01-0012-000
Land Assessment
$0 (2025)
Improvements Assessment
$0 (2025)
Total Assessment
$82,200 (2025)
Annual Taxes
$3,600 ($0.76/SF)
Tax Year
2024
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Jefferson Arms Private Residences | 4494-96 W Jefferson Ave
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