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240 W GOLDEN GATE Highland Park, MI 48203 4595
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Key Details
Sold Price $160,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 2,700 sqft
Price per Sqft $59
Subdivision Mi
MLS Listing ID 60233117
Sold Date 09/01/23
Style 2 Story
Full Baths 2
Half Baths 1
Year Built 1928
Annual Tax Amount $2,589
Lot Size 6,534 Sqft
Acres 0.15
Lot Dimensions 60.00 x 111.00
Property Description
LOCATED 5 MINUTES FROM THE INFAMOUS PALMER PARK HISTORIC DISTRICT, YOU WILL FIND 240 WEST GOLDEN GATE NESTLED ON A 6,534 SQUARE FOOT LOT IN A QUIET NEIGHBORHOOD OF HOMEOWNERS. THIS TRIPLEX CONSISTS OF 3 RECENTLY REMODELED SECTION 8 UNITS. EACH UNIT HAS BEEN UPGRADED AND HAS ENTIRELY BRAND NEW ELECTRICAL AND PLUMBING TO INSURE MAINTENANCE FREE CASH FLOW. FURTHERMORE THE ENTIRE COMPLEX HAS NEW ELECTRICAL AND PLUMBING FROM TOP TO BOTTOM. EACH SPACIOUS UNIT HAS FRESHLY ROLLED PAINT AND MAINTENANCE FREE FLOORING. THE UNITS ARE ALL LEASED TO SECTION 8 TENANTS AND THE MONTHLY DIVIDENDS ARE $3255 PAID BY SECTION 8. THE TENANTS PAY ALL UTILITIES WITH CENTRAL HEAT, WHICH ALLOWS THIS COMPLEX TO MAINTAIN A NEAR 20% CASH ON CASH RETURN. PROPERTY TAXES HAVE BEEN REDUCED TO ROUGHLY $250 PER MONTH. THIS DIAMOND WILL BE IN A LUCKY OWNER'S FINGERTIPS SOON! NO SHOWINGS WITHOUT ACCEPTED FULL LIST OFFER.
Location
State MI
County Wayne
Area Detroit (82001)
Zoning Multi-Family
Rooms
Basement Block
Interior
Heating Hot Water
Fireplace No
Exterior
Exterior Feature Brick
Waterfront No
Building
Story 2 Story
Foundation Basement
Water Public Water at Street
Structure Type Brick
Schools
School District Detroit City School District
Others
Ownership Private
Assessment Amount $240
Energy Description Natural Gas
Acceptable Financing Cash
Listing Terms Cash
Financing Cash,Conventional
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Bought with LPS
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