Sold for $480,000

$480,000

18501-18515 Hoover Ave, Detroit, MI 48205

6beds

4,560sqft

Multi Family

Built in 1956

-- sqft lot

$432,300 Zestimate^®

$105/sqft

$1,279 Estimated rent

Home value

$432,300

$363,000 - $506,000

$1,279/mo

Zestimate^® history

Owner options

List your home for rent

$1,279/mo

Rent Zestimate^®

Find your next renter with Zillow Rental Manager. Plus, with online applications, you can quickly screen prospective tenants – for free.

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$1,279/mo

Rent Zestimate^®

Refinance and save

$3,381/mo

Est. payment

Refinancing to a lower rate could help reduce your monthly payments and save thousands over the life of the loan.

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$3,381/mo

Est. payment

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What's special

THIS FANTASTIC OPPORTUNITY WILL NOT LAST, FOLKS!! A TRUE 10.5 CAP RATE WITH POTENTIAL PROJECTED 16.7 WITH RENTAL INCREASE THIS YEAR!!! THIS SUPER GARDEN/LOW RISE APARTMENT COMPLEX HAS 12 RANCH STYLE UNITS WITH PRIVATE ENTRY. TENANTS PAY ALL UTILITIES EXC WATER/SEWER, SNOW/LAWN AND GARBAGE. 6 UNITS HAVE SEPARATE BD/500 SQ FT AND 6 LARGE EFFICIENCIES.FURTHER, THERE IS A LARGE PARKING LOT AND SEPARATE METERS/ BLDGS HAVE CONDO STYLE AND POTENTIAL IMMEDIATE INCOME WITH A CONDO CONVERSION ( CONDOS SELLING AT APROX 64K PER UNIT!) WARREN CITY BORDER PROPERTY HERE! BEAUTIFUL AND DESIRABLE!! OCCUPANCY AT 95% CURRENTY AND AVG 100% WITH MANY LONG TERM TENANTS! FUSSY OWNER HAS A VERY LONG WAITING LIST! THIS IS A BANK FORECLOSURE, OTHERWISE WOULD NEVER CONSIDER THE SALE OF THIS MONEY MAKING COMPLEX SO HURRY WE LOOK FORWARD AND STAND READY!!! PLEASE BE DISCREET-TENANTS ARE NOT AWARE OF SALE. FURTHER, WE OFFER ANOTHER 2 BLDGS AND ARE ABLE TO DO A PKG DEAL FOR YOU. PLEASE CALL FOR DETAILS!

Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 6
Bathrooms: 2
Full bathrooms: 12

Heating

Baseboard, Electric, Natural Gas, Other Heating Source

Appliances

Laundry: None

Features

High Speed Internet
Has basement: No
Has fireplace: No

Interior area

Total interior livable area: 4,560 sqft
Finished area above ground: 4,560

Property

Parking

Total spaces: 25
Parking features: Assigned, Lighted, Parking Lot, Other

Features

Levels: One
Stories: 1
Patio & porch: Covered
Exterior features: Awnings, Chimney Caps, Lighting, Permeable Paving, Private Entrance
Pool features: None

Lot

Size: 0.3 Acres
Dimensions: 126.00 x 100.00

Details

Parcel number: W17I013969C70
Zoning description: MultiFamily
Special conditions: Real Estate Owned,Short Sale No

Construction

Type & style

Home type: MultiFamily
Architectural style: Ranch
Property subtype: Multi Family

Materials

Brick
Foundation: Slab
Roof: Asphalt,Composition

Condition

New construction: No
Year built: 1956
Major remodel year: 2023

Utilities & green energy

Electric: Circuit Breakers
Sewer: Public Sewer, Sewer At Street
Water: Public, Waterat Street
Utilities for property: Above Ground Utilities, Cable Available, Underground Utilities