$499,995
280 RICHTON Street Highland Park, MI 48203 3466
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$499,995
Est. payment /mo
21,696 SqFt
Active
280 RICHTON Street Highland Park, MI 48203 3466
UPDATED:
08/09/2024 01:36 PM
Key Details
Property Type Commercial
Sub Type Commercial/Industrial
Listing Status Active
Purchase Type For Sale
Square Footage 21,696 sqft
Price per Sqft $23
Subdivision Mi
MLS Listing ID 60308249
Annual Tax Amount $10,829
Lot Size 9,583 Sqft
Acres 0.22
Lot Dimensions 69.10 x 140.00
Property Description
Welcome Highland Park, MI! Nestled within a vibrant community, this charming apartment building offers a comfortable lifestyle just moments away from local amenities. Conveniently located near major highways and public transportation, commuting is a breeze. Don't miss out on this opportunity to experience urban living at its finest in Highland Park with easy access to Davison Freeway and the John C. Lodge Freeway. Investing in real estate in Highland Park, MI, presents opportunities for investors to benefit from affordability, potential appreciation, steady rental demand, favorable location, and redevelopment prospects. This property has been prepared for restoration. Looking for the right investor to take on a new project. There is a lot of opportunity and potential. Commercial storefronts can be used for business or be converted to add additional residential units. SALE OF THIS PROPERTY ALSO INCLUDES A BONUS VACANT LOT ACROSS THE STREET AT 279 RICHTON ST. This allows for future development opportunities to create additional profits and return on investment. 280 Richton St is a four story vacant brick building that includes 34 residential units as well as 4 commercial units on the ground level for a total of 38 units: Number of 1 Bedroom Units: 30 Number of 2 Bedroom Units: 3 Number of 3 Bedroom Units: 1 Number of Commercial Units: 4 Investing in real estate in Highland Park, MI, can be advantageous for several reasons: -Compared to nearby areas, real estate prices in Highland Park may be more affordable, offering opportunities for investors to acquire properties at lower costs. -Potential for appreciation: Highland Park is undergoing revitalization efforts, which could lead to an increase in property values over time as the area develops and improves. -Rental demand: With its proximity to Detroit and various amenities, Highland Park can attract renters seeking affordable housing options. Investors can capitalize on steady rental demand and potentially achieve attractive rental yields.
Location
State MI
County Wayne
Area Detroit (82001)
Zoning Multi-Family,Commercial
Interior
Heating Forced Air
Exterior
Waterfront No
Roof Type Rubber
Building
Foundation Basement, Slab
Water Public Water
Structure Type Brick
Others
Ownership Private
Energy Description Natural Gas
Financing Cash,Conventional,Exchange/Trade
Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource.
Listed by Re/Max Connection
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