4594 3Rd StEcorse, MI 48229

For Sale
$249,000

Six-unit apartment building, high ROI.

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional investment opportunity presents a six-unit apartment building located at 4594 3rd Street, Ecorse, Michigan, 48229. The property, built in 1943, boasts a total of 2,718 square feet situated on a 0.18-acre lot. The building is a two-story structure, zoned RM2 (Multi Family Dwelling), allowing for multifamily use. Currently, all six units are occupied, offering immediate cash flow. The asking price is $249,000, translating to an attractive price per unit of $41,500. Significant improvements enhance the property's value and appeal. A new roof was installed in 2023, and all units underwent major renovations the same year. This ensures minimal immediate maintenance needs and maximizes rental income. The property's strong occupancy and recent upgrades contribute to an aggressive capitalization rate at the asking price. Detailed financial information, including a rent roll, is available upon request. This property represents a compelling investment opportunity in a stable market, offering both immediate returns and long-term growth potential. The Wayne County location provides convenient access to major transportation routes and amenities. The APN is 34-012-09-0163-000.

Highlights

  • Six-unit apartment building, fully occupied.
  • New roof installed in 2023.
  • Major renovations completed in all units in 2023.
  • Attractive capitalization rate at asking price.
  • Financial details and rent roll available upon request.

Property Details for 4594 3Rd St

Property type
Multifamily properties, Apartment buildings
Square Feet
2,718 SF
Year Built
1943
Stories
2
Lot Size (sq. ft)
7,841 SF
Units
6

Location Insight

City
Ecorse
County
Wayne
State
Michigan
Latitude
42.2398808
Longitude
-83.1533503
4594 3Rd St, Ecorse, Michigan

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4594 3Rd St
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