$125,000
$123,000
1.6%For more information regarding the value of a property, please contact us for a free consultation.
18738-18742 Morang Drive Detroit, MI 48205
2 Beds
2 Baths
1,680 SqFt
Key Details
Sold Price $125,000
Property Type Multi-Family
Sub Type Duplex
Listing Status Sold
Purchase Type For Sale
Square Footage 1,680 sqft
Price per Sqft $74
Subdivision Dalbys East Pointe (Plats )
MLS Listing ID 20230076911
Sold Date 12/07/23
Style Duplex
Bedrooms 2
Full Baths 2
Originating Board Realcomp II Ltd
Year Built 1943
Annual Tax Amount $958
Lot Size 7,405 Sqft
Acres 0.17
Lot Dimensions 52.00 x 195.00
Property Description
**Incredible Investment Opportunity with Over 10% Cap Rate!** Discover the perfect addition to your investment portfolio – a
remarkable townhouse-style duplex offering a fantastic cap rate of over 10%! This exceptional property boasts two thoughtfully
designed two-bedroom units, each with its own private basement and a host of appealing features. **Unit Features:** - Spacious two-bedroom layouts that provide ample room for comfortable living. - Well-appointed kitchen in unit 18738, boasting brand-new cabinets and elegant granite countertops. - Each unit features a full bathroom - Expansive living spaces designed with a focus on both functionality and aesthetics. **Exterior and Maintenance:** - The exterior showcases timeless brick construction that exudes charm and durability. - Freshly painted exterior enhances the property's curb appeal, welcoming residents and visitors alike. - The roof is in excellent condition, providing peace of mind for the new owner. - Enjoy relaxing moments on the covered front porch
**Income Potential and Lease Information:** - Unit 18742 is currently tenanted and generating steady rental income, with a recent lease renewal at $810 per month. - Previous tenant in the other unit was paying $995 per month, showcasing the potential for increased rental income. - These figures underscore the impressive financial prospects of this investment opportunity. **Parking and Location:** - Abundant parking space in the backyard offers convenience and flexibility for residents. - Street parking is readily available, providing additional options for parking needs. **Property Details:** -Blocks away from Ford Resource and engagement center - This property consists of two separate parcel IDs, while connected and sharing a common wall. - Schedule your showing today to seize this promising investment prospect and add it to your real estate portfolio-
Location
State MI
County Wayne
Area Det Con-Mors/Grat. Hstn/7 Mack
Zoning Residential
Direction Take Seven Mile Heading East, Right On Morang, Duplex On The Left
Rooms
Basement Unfinished
Interior
Hot Water Natural Gas
Heating Forced Air
Fireplace no
Heat Source Natural Gas
Exterior
Garage Spaces 2.0
Waterfront no
Roof Type Asphalt
Porch Porch - Covered, Porch
Road Frontage Paved
Garage yes
Building
Foundation Basement
Sewer Public Sewer (Sewer-Sanitary)
Water Public (Municipal)
Architectural Style Duplex
Level or Stories 2 Story
Structure Type Brick
Schools
School District Detroit
Others
Pets Allowed Yes
Tax ID W21I076678S
Ownership Short Sale - No,Private Owned
Assessment Amount $240
Acceptable Financing Cash, Conventional
Rebuilt Year 2022
Listing Terms Cash, Conventional
Financing Cash,Conventional
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Bought with EXP Realty LLC