1665-1673 Pagel Avenue

    Lincoln Park, MI 48146
    • $374,900
    • STATUS: Active
    • ON SITE: 137 days
    • ID#: 219102151
    UPDATED: 58 min ago
    $374,900
    • 0
      BEDS
    • 0.3
      ACRES
    • 8
      BATHS
    • 0
      1/2 BATHS
    • 4,600
      SQFT
    • $82
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1936
    County:
    Area:
    Zoning:
    Multi-Family
    Lot Size Dimensions:
    120.00X108.00

    School Ratings & Info

    School District:

    Description

    Well maintained two apartment buildings! 8 units total. Fully occupied and licensed with the city. Two separate buildings, produces good and steady income. 7 one bedroom and 1 two bedroom. Currently at around 10% CAP Rate. Under market rates gives new owner an opportunity to raise them for better returns. Lincoln Park is centrally located in Downriver community, has lots of parks and recreational activities. Detroit River is just a short drive away allows for boating and fishing. Tenants are not aware of sale. Please do not approach or talk to tenants.

    Monthly Payment Calculator



    © 2020 Realcomp II Ltd. Shareholders. Real estate listings held by brokerages other than RE/MAX Nexus are marked with the Realcomp-approved IDX logo and are provided through IDX through Realcomp II Ltd. IDX information is provided exclusively for the consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Any use of search facilities of data on the site, other than by a consumer looking to purchase real estate, is prohibited. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. Data last updated: 2020-02-18T07:56:19.513.
    www.nexushomesearch.com/homes/99565944

    1665-1673 Pagel Avenue Lincoln Park, MI 48146

    • Price: $374,900
    • Status: Active
    • Updated: 58 min ago
    • ID#: 219102151
    0
    Beds
    8
    Baths
    0
    ½ Baths
    0.3
    Acres
    4,600
    SQFT
    $82
    $/SQFT
    1936
    Built
    Neighborhood:
    Garfield Park Sub
    County:
    Wayne
    Area:
    Lincoln Park
    School District:
    LINCOLN PARK
    Property Description
    Well maintained two apartment buildings! 8 units total. Fully occupied and licensed with the city. Two separate buildings, produces good and steady income. 7 one bedroom and 1 two bedroom. Currently at around 10% CAP Rate. Under market rates gives new owner an opportunity to raise them for better returns. Lincoln Park is centrally located in Downriver community, has lots of parks and recreational activities. Detroit River is just a short drive away allows for boating and fishing. Tenants are not aware of sale. Please do not approach or talk to tenants.
    Exterior Features

    Architecture Level 2 Story Architecture Style Common Entry BuildingQuadruplexOther Construction Materials Brick Exterior Features FencedOutside LightingPrivate Entry Foundation Details Basement Foundation Materials Block Lot Size Dimensions 120.00X108.00 Multifamily Parking CarportsOn StreetPavedUnassigned/General Pool YN No Porch Type BalconyPorch Road Frontage Feet 120 Road Frontage Type Paved Roof Material Asphalt Waterfront Description Lake/River PrivRiver Access Waterfront Name Detroit River Waterfront YN No

    Interior Features

    Basement Type CommonPrivate Storage LockerUnfinished Basement YN Yes Baths Total 8.00 Cooling Window Unit(S) Heating BaseboardForced Air Heating Fuel Natural Gas Interior Features Cable AvailableCarbon Monoxide Alarm(S)Laundry Facility Room Count 0 Sq Ft Combined 4600 Sq Ft Total Basement 2000 Unit Efficiency Number Of 0 Unit One Bed Number Of 7 Unit Three Bed Number Of 0 Unit Two Bed Number Of 1 Water Heater Fuel ElectricNatural Gas

    Property Features

    Assessment 0.02 Encroachment YN No Exclusions YN No Gross Scheduled Income 54360.00 Income Projection Actual Inventory List YN No Land Contract YN No Legal Rental Certified YN Yes Listing Financing CashConventional Monthly Rental Income 4530 Net Operating Income 36946.00 Number Of Units Leased 8 Ownership Status Private OwnedShort Sale - No Percent Homestead Exempt YN No Postal City Lincoln Park Protection Period 180 Rent Includes Snow RemovalYard Maintenance Restrictions YN No Settlement City Sewer Sewer-Sanitary Short Sale No Tax Amount Summer 5200.0000 Tax Amount Winter 990.0000 Title Private - Owned Total Tax 6190.0000 Transaction Type Sale Unit Loft Number Of 0 Unparsed Address 1665-1673 PAGEL AVE Water Source Municipal Water Zone Conform YN Yes Zoning Multi-Family

    IDX provided courtesy of Realcomp II Ltd., via Home One Realty Llc and Realcomp, ©2020 Realcomp II Ltd. Shareholders.


    © 2020 Realcomp II Ltd. Shareholders. Real estate listings held by brokerages other than RE/MAX Nexus are marked with the Realcomp-approved IDX logo and are provided through IDX through Realcomp II Ltd. IDX information is provided exclusively for the consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Any use of search facilities of data on the site, other than by a consumer looking to purchase real estate, is prohibited. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. Data last updated: 2020-02-18T07:56:19.513.
     
    RE/MAX Nexus
    255 E. Brown St - Suite 205
    Birmingham MI, 48009