16810 Baylis Street
Detroit, MI 48221

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Description

Fully updated and income-producing 5-unit apartment building, offering a strong opportunity for investors. Each unit is currently occupied by reliable tenants, all of whom have been in place for approximately three years and wish to stay. All leases are month-to-month, leaving flexibility for the new owner. Recent upgrades include energy-efficient appliances, a new furnace, and a new hot water tank. No major repairs are needed. Approximately 15 years remain on the tax abatement. Located near expressways, just 15 minutes from downtown Detroit and 20 minutes from Detroit Metro Airport. Great 8.5% cap rate in an up-and-coming Detroit neighborhood.

Features

• Property Type: Multi Family Home
• Sub Type: Multi Family Home
• Listing Status: Active
• County/Area: Wayne County
• Zip Code: 48221
• Year Built: 1927
• School District: Detroit
• Basement: Yes
• Lot Size: 7405 sq ft lot
• Construction Materials: Brick
• Directions: East Of Livernois, South Of McNichols
• Gross Income: 50400
• Heat Source: Natural Gas
• Heating: Forced Air
• Lot Size Area: 0.17
• Lot Size Square Feet: 7405.2
• Lot Size Units: Acres
• MLS Area Major: Wayne County - 100
• MLS Area Minor: Wayne County - 100
• Main Type: Multi Family
• Parcel Number: 08010056
• Road Frontage: 58
• SEV: 800
• Street Type: Paved
• Tax Annual Amount: 134
• Tax Legal Description: E BAYLIS 18 NAGELS GOLF CLUB SUB AND VAC ALLEY ADJ L42 P47 PLATS, W C R 8/170 57.6 X 127.78A
• Total Approx Sq Ft All Bldgs: 5352
• Total Num Units: 5
• Water Source: Public