8440 Burnette St, Detroit, MI 48204

  • 8440 Burnette Detroit 8 unit - 1
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  • 8440 Burnette Detroit 8 unit - 8
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  • 8440 Burnette Detroit 8 unit - 10

For Sale $195,000.00 - Commercial
4878 sq ft 8 Bedrooms 8 Bathrooms
 
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Detroit 8 unit complex investment. *Investors Dream Purchase* 20+% cap rate return.

Solid 8 unit income producing building Tenants pay all utilities except water. 8 separate hot water tanks and 8 separate furnaces All new electrical panels with new breakers and updated plumbing throughout entire building New vinyl double pane windows LED motion activated lights throughout exterior of property Building income $4,800 a month All tenants currently have leases and are all up to date. Very low taxes of $2,255 yr

The building was 75% occupied for the past 7 years, since taking it over we evicted all the tenants and made renovations and it’s been at 100% occupancy since then. For 6 months the plan was to hold but the partnership went south and they need to separate and sell off all assets.

Address: 8440 Burnette St, Detroit, MI 48204

Dropbox Photos: Click HERE for Photos

  • Acreage: 0.1
  • Frontage Feet: 104
  • Lot Dimensions: 104.30X42.50
  • Est SQFT Total: 4,878
  • Est Sqft Main: 4,847SQFT
  • Year Built: 1927
  • Number Of Units Total: 8
  • # Two Bed Units: 8
  • Percent Leased: 100%
  • School District: Detroit
  • Property ID Number: W16I004376S
  • Tax Amount Summer: $2,115
  • Tax Amount Winter: $141

REVENUE & EXPENSES

  • Monthly Sales: $4,800
  • Monthly Taxes: $188
  • Insurance: $320
  • Water: $320
  • Property Mgt (8%): $384
  • Monthly Net Income: $3,588
  • Annual Net Income: $43,056
  • Annual Gross Income: $57,600
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Quick Property Solutions is a wholesaling company that finds the best off-market deals in Detroit! We have connections with various sellers in the area and are consistently finding quality deals in the metro Detroit area. Call us today to discuss investment opportunities.


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