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$465,000 USD
6037 Appoline Street
Dearborn, Michigan 48126
USA
Dearborn, Michigan 48126
USA
205.681 m2 ::
2,214 sqft
5 full baths
Residential For Sale, Multi-Family Home
Sale price per sqm: 2,260.71
Tax: 6,385 USD
Remarks:
EXCELLENT 5-UNIT MULTIFAMILY INVESTMENT OPPORTUNITY LOCATED AT 6037 APPOLINE. THIS WELL-MAINTAINED BUILDING OFFERS A STRONG UNIT MIX, STABLE TENANCY, AND CLEAR UPSIDE THROUGH LEASING THE CURRENT VACANT UNIT. FOUR OF THE FIVE UNITS ARE OCCUPIED WITH CURRENT GROSS RENT OF $3,550 PER MONTH, AND THE LARGEST 1-BEDROOM UNIT, APPROXIMATELY 700 SF, IS CURRENTLY BEING MARKETED AT $925–$950 PER MONTH. THE PROPERTY HAS BENEFITED FROM SEVERAL IMPORTANT IMPROVEMENTS, HIGHLIGHTED BY A FULL BOILER REPLACEMENT COMPLETED IN 2021 WITH CITY CERTIFICATION. THIS IS ONE OF THE STRONGEST CAPITAL IMPROVEMENTS ON THE BUILDING. ADDITIONAL UPDATES INCLUDE UNIT RENOVATIONS, FLOORING UPDATES, BATHROOM AND KITCHEN IMPROVEMENTS, AND EMERGENCY/EXIT LIGHTING INSTALLED FOR THE CERTIFICATE OF OCCUPANCY. APPLIANCES HAVE ALSO BEEN REPLACED AS NEEDED ON TURNOVER. WITH TWO LEASES COMMITTED THROUGH 2026 AND 2027, LONG-TERM TENANTS IN PLACE, ON-SITE LAUNDRY, AND RENTAL UPSIDE WITH UNIT 4, THIS PROPERTY OFFERS BOTH IMMEDIATE CASH FLOW AND A VALUE-ADD OPPORTUNITY FOR AN INCOME-FOCUSED BUYER.
Features:
- Year Built: 1930
Location:
6037 Appoline Street, Dearborn, Michigan 48126, USA
Listed By CENTURY 21 Curran & Oberski
The Residential For Sale, Multi-Family Home located at 6037 Appoline Street, Dearborn, Michigan 48126, USA is currently for sale. 6037 Appoline Street, Dearborn, Michigan 48126, USA is listed for $465,000 USD. This property has 5 full baths and 2,214 sqft. If the property located at 6037 Appoline Street, Dearborn, Michigan 48126, USA isn't what you're looking for, search Michigan Real Estate to see other Homes For Sale in Dearborn.
