21710 29 Mile Road Active Save Request In-Person Tour Request Virtual Tour
Ray,MI 48096
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 3,752 sqft
Price per Sqft $113
Subdivision Mi
MLS Listing ID 50157925
Style 2 Story
Bedrooms 5
Full Baths 3
Year Built 1942
Annual Tax Amount $1,853
Lot Size 0.650 Acres
Acres 0.65
Lot Dimensions 144x187x27x223
Property Description
Welcome to this fantastic investment opportunity in a prime location! This 2-story 3 unit building features two spacious apartments upstairs, each 938 sqft with 2 bedrooms and 1 bath. The lower level is 1876 sqft currently being used as living quarters but can be reverted back to business use as store, retail, office and more, offering endless possibilities for additional income streams. Each unit provides a private entrance. Located in an area with high traffic counts and high visibility. This property is perfect for entrepreneurs looking to establish a business in a prime community. The apartments provide a steady rental income, making this property a lucrative investment for any savvy investor. CAP RATE 8% or more (current rent is well below area average). Land contract available. We will consider all reasonable offers. Huge lot would allow plenty of space for expansion. Tenant pays all utilities.
Location
State MI
County Macomb
Area Ray Twp (50005)
Interior
Heating Forced Air
Cooling Central A/C
Fireplace No
Appliance Dryer,Freezer,Range/Oven,Refrigerator,Washer
Exterior
Waterfront No
Building
Story 2 Story
Foundation Slab
Water Private Well
Schools
School District New Haven Community Schools
Others
Ownership Private
SqFt Source Public Records
Energy Description Natural Gas
Financing Cash,Conventional,Land Contract