21710 29 Mile Rd - Apartments FOR SALE


Ray, MI 48096
$375,000 USD
586-677-8888
21710 29 Mile Rd, Ray, MI for Sale
$375,000 USD
Apartments - FOR SALE
1/44
null | 9.49% Cap Rate

21710 29 Mile Rd
Ray, MI 48096


HIGHLIGHTS

  • Welcome to this fantastic investment opportunity in a prime location!
  • Located in an area with high traffic counts and high visibility.
  • This property is perfect for entrepreneurs looking to establish a business in a prime community.
  • This property a lucrative investment for any savvy investor.

OVERVIEW

Welcome to this fantastic investment opportunity in a prime location! This 2-story 3 unit building features two spacious apartments upstairs, each 938 sqft with 2 bedrooms and 1 bath. The lower level is 1876 sqft currently being used as living quarters but can be reverted back to business use as store, retail, office and more, offering endless possibilities for additional income streams. Each unit provides a private entrance. Located in an area with high traffic counts and high visibility. This property is perfect for entrepreneurs looking to establish a business in a prime community. The apartments provide a steady rental income, making this property a lucrative investment for any savvy investor. CAP RATE 8% or more (current rent is well below area average). Land contract available. We will consider all reasonable offers. Huge lot would allow plenty of space for expansion.

FOR SALE DETAILS

PRICE

$375,000 USD

PRICE/SF

$100 USD /SF

# OF UNITS

2

PRICE/UNIT

$187,500

CAP RATE

9.49%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential, Office/Residential

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1925

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.65 AC

LAND SF

28,314 SF

ZONING

B-2

APN/PARCEL ID

21-05-22-227-001

ASK ABOUT THIS PROPERTY

Ahmed ArafaCentury 21 AAA NorthMore Info
586-677-8888

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Ahmed ArafaCentury 21 AAA NorthMore Info
586-677-8888

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.