6022-6028 APPOLINE, Dearborn, Michigan 48126

$449,900

Property Details

MLS#: 20261045671
Bedrooms: N/A
Bathrooms: 4
Square Feet: 3,024
Price per Sqft: $149
Lot Size: N/A
Year Built: 1927
Property Type: ResidentialIncome
Status: Active
Days on Market: 3

Description

6022–6028 APPOLINE PRESENTS A STRONG, FULLY OCCUPIED 4-UNIT MULTIFAMILY OPPORTUNITY IN DEARBORN.? THE PROPERTY CONSISTS OF FOUR SPACIOUS 1-BEDROOM / 1-BATH UNITS, APPROXIMATELY 800 SQUARE FEET EACH, WITH CURRENT GROSS INCOME OF $3,515 PER MONTH.? THE MOST RECENT LEASE WAS SIGNED AT $915 PER MONTH, SHOWING CLEAR RENTAL UPSIDE AS IN-PLACE RENTS REMAIN BELOW MARKET.? THE BUILDING HAS BENEFITED FROM MEANINGFUL CAPITAL IMPROVEMENTS, INCLUDING HVAC REPLACEMENT WORK BY DETROIT FURNACE IN 2021, MAJOR PLUMBING UPGRADES BY FROST & KRETSCH FROM 2020–2021, NEW FRONT PORCH STEPS AND MASONRY IN 2022, AND EXTERIOR REPAIRS COMPLETED FOR THE CITY OF DEARBORN CERTIFICATE OF OCCUPANCY IN 2020.? APPLIANCES HAVE ALSO BEEN REPLACED AS UNITS TURNED OVER.? TENANCY IS STABLE, WITH ZERO MOVE-OUTS SINCE 2023.? CURRENT TENANTS AVERAGE APPROXIMATELY FIVE YEARS IN PLACE, WITH THE LONGEST TENANT IN PLACE FOR ABOUT SEVEN YEARS.? THREE OF THE FOUR UNITS ARE CONVENTIONAL MONTH-TO-MONTH TENANCIES, PROVIDING FLEXIBILITY FOR A FUTURE OWNER-OCCUPANT OR INVESTOR.? UNIT 6028 #4 IS A HOUSING-VOUCHER TENANCY WITH APPROXIMATELY $595 OF THE $875 RENT PAID DIRECTLY BY THE HOUSING AUTHORITY AND CONSISTENT PAYMENTS DATING BACK TO 2019.? WITH STABLE OCCUPANCY, DEPENDABLE INCOME, RECENT MAJOR IMPROVEMENTS, AND REAL UPSIDE THROUGH RENTAL GROWTH, THIS IS AN ATTRACTIVE DEARBORN MULTIFAMILY ASSET FOR INVESTORS OR OWNER-OCCUPANTS SEEKING INCOME AND FLEXIBILITY.?

Location

This property is located in Dearborn, Michigan. Dearborn is part of the Metro Detroit area, offering convenient access to employment, schools, shopping, and recreation.

Frequently Asked Questions

What is the price of 6022-6028 APPOLINE?

6022-6028 APPOLINE is listed at $449,900, or $149 per square foot.

How many bedrooms does 6022-6028 APPOLINE have?

This property has N/A bedrooms and 4 bathrooms, with 3,024 square feet of living space.

Schedule a Showing

Interested in this property? Contact Sonic Realty to schedule a private showing. Our experienced agents can help you navigate the home buying process.

Phone: (313) 466-2430

Email: info@sonicrealty.com

Similar Homes for Sale in Dearborn

611 Highview Street, Dearborn — $449,900 · 3bd · 2ba · 2,702sqft
21746 Garrison Street, Dearborn — $450,000 · 2bd · 2ba · 1,605sqft
529 MILITARY Street, Dearborn — $449,600 · 3bd · 1ba · 2,060sqft
146 Meridan Street, Dearborn — $439,900 · 3bd · 2ba · 1,600sqft
3811 Alice Street, Dearborn — $460,000 · 5bd · 3ba · 2,250sqft
6037 Appoline Street, Dearborn — $465,000 · 5ba · 2,214sqft
13 Timberlane Court, Dearborn — $434,000 · 2bd · 2ba · 2,840sqft
24161 Oxford Street, Dearborn — $429,999 · 3bd · 2ba · 1,899sqft