GORGEOUS 6 BEDROOM 2 FULL BATHROOM BRICK BEAUTY DUPLEX OOZING WITH CHARACTER JUST FOOTSTEPS AWAY FROM ICONIC AND HISTORIC BOSTON EDISON DISTRICT WHERE HOME VALUES ARE 350K-550K. TOTAL CURRENT SECTION 8 RENT IS $2800 AND TENANTS PAY UTILITIES This character filled giant brick multifamily 3bed 1bath upper unit and 3bed 1bath lower unit has been fully restored and has gorgeous high ceilings and beautifully flowing newly finished hardwood floors. The property is perfectly located in the investor friendly Dexter-Lynnwood area just footsteps away from Detroit’s famous Boston Edison. Minutes away from all sorts of freeways, grocery stores and restaurants. There has been an enormous revitalization push in Dexter-Lynnwood over the passed year as well as rehabs on most streets at any given time. Home values have been steadily increasing year after year for the passed 15 years in Detroit and this neighborhood. The surrounding comps put the property value easily at $285k. Not to mention the solid government section 8 rent that is wired into your account every month like clockwork. At $2800 a month in section 8 rent + utilities puts this investment property at approximately a 12% annual return. This turnkey property also comes with property management if desired. Tuxedo received a full jumbo deluxe rehab package and included in the renovation and restoration 2024-2025 package; A new roof. many new vinyl windows. Mostly all new electrical, new breaker panels, new meter cans, new wire, new junction boxes, new grounded service line, new plugs, new gcfi’s, new switches, all new LED lighting/fixtures. Mostly all new plumbing as well, many new pex lines, some new PVC, new vanities, new faucets, new fixtures, new toilets, new bath tub, new kitchen sinks and more. All newly restored hardwood flooring. All new kitchen and bathroom flooring as well. All new interior and exterior paint. New countertops and cabinets. All new blinds. New furnace units. A lot of new ductwork. New HWT’s. Furthermore, the 1500 sqft basement has been finished and is a very dry basement. No backups or rain water coming in whatsoever. Both upper and lower units are roughly 1700 SQFT each making it a very comfortable living environment. Both units showcase a large sweeping living room , large dinning room , large kitchens, large bedrooms, hallways, full bathrooms and fully seperate basements with tons of storage space. Each unit also has 2 seperate entryways. Again, both current, section 8 leases are in place for this property paying $2,800 a month + they pay utilities. For this cashflowing newly restored multifamily duplex, cash buyers or DSCR loans are favored for purchase. We can refer a local lender who specializes DSCR loans if you need a referral.
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