MI > Detroit
Detroit, MI 48205,18037 Pelkey Street
Detroit, MI 48205,18037 Pelkey Street
Detroit, MI 48205,18037 Pelkey Street
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$599,000
Est. payment /mo
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5,364 SqFt
Price Dropped by $51K

18037 Pelkey Street Detroit, MI 48205

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Chris Buckely

Chris Buckely

+1(312) 313-5553

UPDATED:

Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

Square Footage 5,364 sqft

Price per Sqft $111

MLS Listing ID 20251008703

Year Built 1929

Annual Tax Amount $22,438

Lot Size 5,227 Sqft

Acres 0.12

Lot Dimensions 40 x 126

Source Realcomp

Property Description

REDUCED! LOCATED 8 MINUTES FROM THE INFAMOUS EAST ENGLISH VILLAGE DISTRICT, YOU WILL FIND 18037 PELKEY NESTLED ON A 5,364 SQUARE FOOT LOT IN A QUIET NEIGHBORHOOD OF HOMEOWNERS. THIS CROWN JEWEL BOASTS A BRAND NEW ROOF TO ENSURE REPEAT DIVIDENDS FOR MANY YEARS TO COME. YOUR APARTMENT COMPLEX CONSISTS OF 10 RECENTLY REMODELED 1 BED ROOM UNITS. EACH UNIT HAS BEEN UPGRADED AND HAS ENTIRELY BRAND NEW ELECTRICAL AND PLUMBING TO INSURE MAINTENANCE FREE CASH FLOW. FURTHERMORE THE ENTIRE COMPLEX HAS NEW ELECTRICAL AND PLUMBING FROM TOP TO BOTTOM. EACH SPACIOUS UNIT HAS FRESHLY ROLLED PAINT AND BRAND NEW CARPET WITH TOP OF THE LINE UNDERLAYMENT. 10 OF THE 10 UNITS ARE LEASED TO SECTION 8 TENANTS AND THE MONTHLY DIVIDENDS ARE JUST UNDER $10,000 PER MONTH. THE TENANTS PAY ALL UTILITIES, WHICH ALLOWS THIS COMPLEX TO MAINTAIN OVER 20% CASH ON CASH RETURN. PROPERTY TAXES HAVE BEEN REDUCED TO ROUGHLY $100 PER MONTH. THIS DIAMOND WILL BE WRAPPED AROUND A LUCKY OWNER'S FINGER SOON! NO SHOWINGS WITHOUT ACCEPTED FULL LIST OFFER.

Location

State MI

County Wayne

Area Wayne County - 100

Zoning Multi-Family

Direction S on Gratiot Ave, W on 7 Mile Rd, S on Pelkey St, Building is on the Right

Rooms

Basement Basement

Interior

Heating Baseboard, Hot Water

Exterior

View Y/N No

Roof Type Other

Building

Foundation Brick/Mortar

Sewer Public

Water Public

Structure Type Brick

Schools

School District Detroit

Others

Tax ID 21030190

Listed by Brookstone, Realtors LLC

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agent

Chris Buckely

IL/IN/MI Managing Broker | License ID: IN- RB17001753 | IL- 477013311

+1(312) 313-5553

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18037 Pelkey Street

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