25
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$169,999
Est. payment /mo
2 Baths
3,484 Sqft Lot
Active
5569 Drexel Street Detroit, MI 48213
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Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 20261007812
Year Built 1928
Annual Tax Amount $2,168
Lot Size 3,484 Sqft
Acres 0.08
Lot Dimensions 35X100
Source Realcomp
Property Description
REDUCED! LOCATED 4 MINUTES FROM THE HISTORIC INDIAN VILLAGE, YOU WILL FIND 5569 DREXEL NESTLED ON A 3,833 SQUARE FOOT LOT IN A QUIET NEIGHBORHOOD OF HOMEOWNERS. THIS CROWN JEWEL BOASTS A BRAND NEW 40 YEAR ROOF TO ENSURE REPEAT DIVIDENDS FOR MANY YEARS TO COME. EVERY WINDOW IN THIS COMPOUND IS BRAND NEW AND SHE HAS BEEN UPGRADED WITH NEW FURNACES, NEW ELECTRICAL, NEW PLUMBING AND HOT WATER TANKS TO INSURE MAINTENANCE FREE CASH FLOW. FURTHERMORE SHE HAS FRESHLY ROLLED PAINT AND BRAND NEW CARPET WITH TOP OF THE LINE UNDERLAYMENT. THIS BEAUTY HAS JUST BEEN LEASED WITH 2 YEAR SECTION 8 TENANTS AND THE MONTHLY DIVIDENDS OF $2178 ARE PAID IN FULL BY THE FEDERAL GOVERNMENT. TENANTS PAY ALL THE UTILITIES WHICH ALLOWS THIS INVESTMENT TO PAY A RETURN OF JUST UNDER 20%. THE TAXES HAVE BEEN REDUCED TO ROUGHLY $100 PER MONTH. THIS DIAMOND WILL WRAPPED AROUND A LUCKY OWNER'S FINGER SOON! NO SHOWINGS WITHOUT ACCEPTED FULL LIST OFFER.
Location
State MI
County Wayne
Zoning Residential
Direction I-94 TO CONNER AVE, SOUTH ON CONNER AVE TO E WARREN AVE, EAST ON E WARREN AVE TO DICKERSON ST, SOUTH ON DICKERSON ST TO DREXEL ST, EAST ON DREXEL ST TO PROPERTY.
Interior
Heating Forced Air
Exterior
View Y/N No
Building
Water Public
Structure Type Brick
Schools
School District Detroit
Others
Tax ID W21I050773S
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Listed by KW Domain
NEARBY SCHOOL & BUSINESS