7
See all 7 photos
$179,500
Est. payment /mo
2 Baths
4,791 Sqft Lot
Active
17328 Indiana Street Detroit, MI 48221
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Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 20261041442
Year Built 1928
Annual Tax Amount $8,286
Lot Size 4,791 Sqft
Acres 0.11
Lot Dimensions 40X114.02
Source Realcomp
Property Description
SHOWN UPON ACCEPTED OFFER ONLY. Solid brick 2-unit duplex, fully leased and professionally managed. One unit is 3 bed/1 bath, the other 2 bed/1 bath, plus basement. Rents today total $1,649/mo, well below market. At market rent of approx $1,200/unit, the projected cap rate is approx 6.5% (est. after actual taxes of $8,286/yr, 10% vacancy, 10% management, insurance and reserves; buyer to verify). Lower unit is month to month and can go to market now; upper lease ends 4/30/27. Newer furnaces, updated PEX plumbing and updated electrical. City of Detroit Certificate of Compliance on file through 08/01/2029, so no city compliance work needed for years. Leases and ledgers provided after accepted offer. Cash or conventional only. *Do not disturb tenants. Do NOT email offers; offer instructions and submission link are in ShowingTime and agent remarks.
Location
State MI
County Wayne
Zoning Residential
Direction North of W. McNichols and East of Wyoming
Interior
Heating Forced Air
Exterior
View Y/N No
Building
Water Public
Structure Type Brick
Schools
School District Detroit
Others
Tax ID W16I035668S
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition {"Other":true}
Listed by EXP Realty Main
NEARBY SCHOOL & BUSINESS
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