6037 Appoline Street, Dearborn, Michigan 48126

$465,000

Property Details

MLS#: 20261045677
Bedrooms: N/A
Bathrooms: 5
Square Feet: 2,214
Price per Sqft: $210
Lot Size: 0.1 acres
Year Built: 1930
Property Type: ResidentialIncome
Status: Active
Days on Market: 3

Description

EXCELLENT 5-UNIT MULTIFAMILY INVESTMENT OPPORTUNITY LOCATED AT 6037 APPOLINE. THIS WELL-MAINTAINED BUILDING OFFERS A STRONG UNIT MIX, STABLE TENANCY, AND CLEAR UPSIDE THROUGH LEASING THE CURRENT VACANT UNIT. FOUR OF THE FIVE UNITS ARE OCCUPIED WITH CURRENT GROSS RENT OF $3,550 PER MONTH, AND THE LARGEST 1-BEDROOM UNIT, APPROXIMATELY 700 SF, IS CURRENTLY BEING MARKETED AT $925–$950 PER MONTH. THE PROPERTY HAS BENEFITED FROM SEVERAL IMPORTANT IMPROVEMENTS, HIGHLIGHTED BY A FULL BOILER REPLACEMENT COMPLETED IN 2021 WITH CITY CERTIFICATION. THIS IS ONE OF THE STRONGEST CAPITAL IMPROVEMENTS ON THE BUILDING. ADDITIONAL UPDATES INCLUDE UNIT RENOVATIONS, FLOORING UPDATES, BATHROOM AND KITCHEN IMPROVEMENTS, AND EMERGENCY/EXIT LIGHTING INSTALLED FOR THE CERTIFICATE OF OCCUPANCY. APPLIANCES HAVE ALSO BEEN REPLACED AS NEEDED ON TURNOVER. WITH TWO LEASES COMMITTED THROUGH 2026 AND 2027, LONG-TERM TENANTS IN PLACE, ON-SITE LAUNDRY, AND RENTAL UPSIDE WITH UNIT 4, THIS PROPERTY OFFERS BOTH IMMEDIATE CASH FLOW AND A VALUE-ADD OPPORTUNITY FOR AN INCOME-FOCUSED BUYER.

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 6037 Appoline Street?

6037 Appoline Street is listed at $465,000, or $210 per square foot.

How many bedrooms does 6037 Appoline Street have?

This property has N/A bedrooms and 5 bathrooms, with 2,214 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

23829 Rockford Street, Dearborn — $469,900 · 4bd · 1ba · 2,906sqft
3811 Alice Street, Dearborn — $460,000 · 5bd · 3ba · 2,250sqft
431 SILVERY Lane, Dearborn — $474,700 · 4bd · 2ba · 2,227sqft
426 Waverly Street, Dearborn — $474,900 · 3bd · 2ba · 2,516sqft
21746 Garrison Street, Dearborn — $450,000 · 2bd · 2ba · 1,605sqft
6022-6028 APPOLINE, Dearborn — $449,900 · 4ba · 3,024sqft
611 Highview Street, Dearborn — $449,900 · 3bd · 2ba · 2,702sqft
529 MILITARY Street, Dearborn — $449,600 · 3bd · 1ba · 2,060sqft