18059 Hoover Street, Detroit, Michigan 48205

$1,000,000

Property Details

MLS#: 58050199868
Bedrooms: 16
Bathrooms: 16
Square Feet: 10,590
Price per Sqft: $94
Lot Size: 0.46 acres
Year Built: 1948
Property Type: ResidentialIncome
Status: Active

Description

Calling all investors! 16-unit apartment complex featuring all one-bedroom, one-bath units. Extensively updated with new plumbing, updated electrical, newer windows, and brand-new furnaces. Half the units offer electric baseboard heat, while the others have individual furnaces. Tenants pay gas and electric, keeping operating costs low. Units have been renovated with updated kitchens and baths, new flooring, fresh paint, and stainless steel appliances. 90%+ occupied and generating a strong 12% cap rate. Property has completed Step 1 of the Pilot Program, with seller working toward full approval with two steps remaining. Don't miss this great investment opportunity!

Location

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

Frequently Asked Questions

What is the price of 18059 Hoover Street?

18059 Hoover Street is listed at $1,000,000, or $94 per square foot.

How many bedrooms does 18059 Hoover Street have?

This property has 16 bedrooms and 16 bathrooms, with 10,590 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

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