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$650,000

Est. payment - /mo

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10 Beds

5,364 SqFt

Price Dropped by $50K

18037 Pelkey Street Detroit, MI 48205

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Amy Greenwood

[email protected] +1(248) 318-8542

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Key Details

Property Type Commercial

Sub Type Apartments,Real Estate Only

Listing Status Active

Purchase Type For Sale

Square Footage 5,364 sqft

Price per Sqft $121

Subdivision Trombley Park

MLS Listing ID 20251008703

Bedrooms 10

Year Built 1929

Annual Tax Amount $22,438

Lot Size 5,227 Sqft

Acres 0.12

Lot Dimensions 40 x 126

Property Sub-Type Apartments,Real Estate Only

Source Realcomp II Ltd

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 A NEAR 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 Det 8 To Gratiot/Houston To 7

Zoning Multi-Family

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

Interior

Hot Water Natural Gas

Heating Baseboard, Hot Water

Heat Source Electric

Exterior

Utilities Available Circuit Breakers

Roof Type Other

Road Frontage Paved

Building

Foundation Basement

Sewer Public Sewer (Sewer-Sanitary)

Water Public (Municipal)

Level or Stories 2 Story

Structure Type Brick

Schools

School District Detroit

Others

Tax ID 21030190

Ownership Short Sale - No,Private Owned

Acceptable Financing Cash, Conventional

Rebuilt Year 2025

Listing Terms Cash, Conventional

Financing Cash,Conventional

Special Listing Condition Full Service

Listed by Lauryn Johnson of Brookstone, Realtors LLC

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Amy Greenwood

Agent | License ID: 6501404660

+1(248) 318-8542

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18037 Pelkey Street Detroit, MI 48205

Amy Greenwood

Key Details

Location

Interior

Exterior

Building

Schools

Others

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18037 Pelkey Street