x
Address
12850 Chicago Detroit, MI
Price
$ 1,800,000
Property Attributes
  • MLS#219020730
  • TypeMulti-Family
  • CountyWAYNE
  • CityDetroit
  • AreaDet 6-Tire - Grnfld - Livernois
  • NeighborhoodROBERT M. GRINDLEYS SUB OF LITTLE FARMS
  • Zip48228
  • StyleCommon Entry Building
  • Year Built1969
  • Taxes17969
  • Price$ 1,800,000
  • Bedrooms72
  • Full Bathrooms63
  • Half Bathrooms0
  • Sqr Footage45312
  • Lot Size0.93 Acres
Listing Provided Courtesy Of:
Social Realty LLC
Property Description

Clean well running buildings of this size are rare in the market. Majority of units have been renovated in the last 2 years. Roof was updated a year ago, hot water tanks installed in last 6 months. Onsite manager has been with the building for over 20 years! Previous owners converted several 1 bedrooms, into very large 2 and 3 bedroom units. The opportunity exists to return the building to more units, and increase the overall gross rent. Onsite laundry, gated secure parking lot! Please do not approach the building without an accepted offer, tenants are not aware of sale. Opportunity to employee current managers post sale at below market rate!

Price History
5/12/2019 Listed $2,000,000
6/7/2019 10% - $1,800,000

General Features

Cumulative Days on Market 129
Gross Scheduled Income 374400.00
Listing Agent Public Id 357019
Net Operating Income 243360.00
Originating MLS Realcomp II Ltd
Ownership Status Private Owned, Short Sale - No
Parcel Number W22I004726S
Property Type Multifamily
Rent Includes Heat, Water/Sewer
School District Detroit
Short Sale No
Status Active
Subdivision Name ROBERT M. GRINDLEYS SUB OF LITTLE FARMS (PLATS)
Terms Offered Cash, Conventional
Total Sq Ft 45312
Transaction Type Sale
Year Built 1969
Year Remodeled 2017
Zoning Multi-Family

Interior Features

Basement Type Common, Walk-Up Access
Basement Y/N Yes
Cooling Wall Unit
Full Baths 63
Heating Baseboard
Heating Fuel Natural Gas
Interior Features Laundry Facility
Total Baths 63.00
Total Units 58
Unit Count 4

Exterior Features

Architecture Level 2 Story
Architecture Style Common Entry Building
Construction Materials Brick
Foundation Basement
Foundation Materials Block
Lot Size Area 0.93
Lot Size Dimensions 150x275x150x275
Roof Material Rubber
Sewer Sewer-Sanitary
Water Source Municipal Water

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool



IDX provided courtesy of Realcomp II Ltd., via and The Originating MLS(found above), © 2019 Realcomp II Ltd. Shareholders. Shareholders. The information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Data is updated as of July 20, 2019 5:21 AM. Information deemed reliable but not guaranteed. The data relating to real estate on this web site comes in part from the Internet Data Exchange (IDX) Program of Realcomp Ltd

Property vs Zip Code Average in 48228

Price
AVG $320K
$1.8M
Taxes
AVG $4,160
$17,969
Year Built
AVG 1947
1969

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