Basics
| Status Active | Category ResidentialIncome | Type MultiFamily | Year built 1928 |
| Area, sq ft 3817 sq ft | MLS ID 20261042699 | Date added Added 1 week ago | Subdivision Name HALFWAY LITTLE FARMS # 01 |
| Bathrooms Full 3 | Lot Size Acres 0.16 acres | Address EastpointeCity_Macomb, Michigan, 48021 | Cooling CeilingFans |
Description
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Description:
This fully occupied, income-producing triplex offers strong cash flow from day one. The historic three-story brick building features three units — a three-bedroom, one-bath at 1,310 square feet and two one-bedroom, one-bath units — delivering $3,929 in monthly rental income and over $47,000 in annual gross income with a cap rate of 10.5%. All units are leased, separately metered, and tenants pay electric. Rent covers heat-gas, water-sewer, snow removal, trash, and yard maintenance. Units 1 and 3 are Section 8, providing guaranteed government-backed rental payments.
Major updates completed by the previous owner include a new roof, windows, and furnace in 2017–2018, and new exterior doors and water heater in 2020–2021. A single water heater and furnace service all units via a programmable thermostat. The partially finished basement houses a shared laundry facility, a half bath for landlord/property manager use, and 4 storage rooms. A detached 3 car garage sits vacant, offering additional rental income potential.
Unit 1 features a private four seasons room filled with leaded glass windows and abundant natural light. Unit 2 enjoys a private balcony. The third level loft with original leaded glass windows presents an opportunity to be finished as a fourth income-producing unit. Sale includes all kitchen appliances, three washer/dryer sets, three window AC units, and an active Rental Certificate.
Rooms
- Bathrooms: 4 baths
Building Details
- Roof: Asphalt
- Construction Materials: Brick, VinylSiding
- Basement: Full, PartiallyFinished
- Architectural Style: Historic, Triplex
- Basement YN: Yes
- Sewer: PublicSewer
- Heating: ForcedAir, NaturalGas
- Garage YN: Yes
- Levels: Three
Location
- City / Department: EastpointeCity_Macomb
- State: Michigan
- Zip / Postal Code: 767
- County Or Parish: Macomb
Amenities & Features
- Waterfront YN: No
- Pool Features: None
- Fireplace YN: No
- Pool YN: No
- Parking Features: Garage, ParkingPad
- WaterSource: Public
Financial
- Homestead YN: No
School Information
- High School District: EastDetroit
Miscellaneous
- Listing Terms: Cash, Conventional
- Pets Allowed: No
Courtesy of
- List Office Name: National Realty Centers, Inc