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18234690
18234691

1645 Taylor St, Detroit, MI 48206

RK
MI 6501401697
RE/MAX Leading Edge
Listed by RE/MAX Leading Edge
$345,000
723 days on market
Updated 50 days ago
Opportunity zone

1645 Taylor

Details
APN W08I002575S
Property Type Multifamily
Sub Type Apartment Building
Square Footage 2,668
Units 2
Cap Rate 7.01%
NOI $24,180
Occupancy 100%
Pro-Forma Cap Rate 7.01%
Pro-Forma NOI $24,180
Price per SqFt $129
Broker Co-Op Yes
Class A
Year Built 1916
Year Renovated 2024
Buildings 1
Stories 3
Acreage 0.090
Zoning Residential
Investment Type Stabilized
Ownership Privately Owned

Multifamily | 2 Units | $172,500/unit

Marketing description


**INVESTORS** This Virginia Park 2-family property has been completely remodeled from top to bottom and is ready for its new owner! The property features two units, each w/ 1,274 sq. ft., 3 bedrooms, 1 bathroom, a spacious living room, dining room, and kitchen!

The upper unit is rented for $1,700/month through 8/31/2025!

The lower unit is rented for $1,400/month through 9/30/2025!

The kitchens feature white shaker cabinets, butcher block counter-tops, and will include a full suite of stainless steel appliances, while the bathrooms feature beautiful new tile, trendy fixtures, and a large double vanity!

The 2nd floor unit also features a massive, additional room on the 3rd floor that would be perfect for a home gym, office, or entertainment room!

Other updates include:

  • all-new romex wiring,

  • new 3D architectural shingle roof

  • new vinyl windows

  • new PEX & PVC plumbing

  • new forced air heating

  • new electric on-demand water heaters

  • beautifully refinished hardwood floors, and so much more!

  • Small 1-car garage is located out back off of the alley

    Gas and electric are metered separately, water is on 1 meter. Located less than 1/4 mile from the neighborhood hot spot, The Congregation, as well as close to New Center and all that it has to offer!

  • You can enjoy the summer evenings on an expansive, covered front porch or upper unit balcony, and the vacant lots across the street may be available for purchase from the Detroit Land Bank! Finally, the La Salle Gardens/Virginia Park neighborhoods are some of the fastest growing areas of the city, with over $3.5 BILLION in developments slated to happen over the next 5 years!

Listing Contacts

RK
MI 6501401697
RE/MAX Leading Edge
Listed by RE/MAX Leading Edge

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$24,180.00
$2,015.00/mo

Valuation Metrics

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DSCR
7.01%
Cap Rate
7.01%
ROI

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