75 Great Lakes StRiver Rouge, MI 48218
For Sale
$675,000
15-Unit Apartment Building, High Potential
Overview
- Added:
- Dec 11, 2024
- Days on market:
- 93
Highlights
- 15-unit apartment building with a mix of studio, one-bedroom/one-bathroom, and two-bedroom/one-bathroom units.
- Current average rent is $635/month, significantly below market average ($848/month), offering upside potential.
- Recent units leased at near-market rates without renovations; older leases significantly below market.
- Utilities: Tenants pay electricity; owner pays water, sewer, gas, and trash.
- Substantial capital improvements over the past 30 years, including a new roof and boiler (past 5 years), newer windows (under 10 years old), and updated electrical panels. Recent common area upgrades include new carpeting and stair treads.
- On-site resident storage and coin-operated laundry generate supplemental income.
Property Details for 75 Great Lakes St
- Property type
- Multifamily properties, Apartment buildings
- Class
- C
- Buildings
- 1
- Stories
- 3
- Units
- 15
Location Insight
- City
- River Rouge
- County
- Wayne
- State
- Michigan
- Latitude
- 42.267248
- Longitude
- -83.1346586
75 Great Lakes St, River Rouge, Michigan
Nearby Similar for Sale
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