MI
Wayne
Detroit City
48238
3205 Kendall Street
3205 Kendall Street, Detroit City, MI 48238
Share Listing
Listing Type
Multi Family
Listing Status
Active
17
$1,350,000

Home Details for 3205 Kendall Street

Price
$1,350,000
Type
Residential Income
Bedrooms
25
Bathrooms
25.0
Square feet
14388
Year built
1925
Lot size acres
0.2
County
Wayne
Garage
Days on site
13
MLS Listing#
58050198604
Property Description

Stunning brick apartment complex located on Detroit's desirable west side in the Dexter/Linwood area. This 24-unit multifamily asset consists entirely of one-bedroom, one-bath units and is currently approximately 90% occupied, with a portion of Section 8 tenants. The property has seen several major capital improvements, including a roof approximately 5 years old, updated vinyl windows, a boiler replaced approximately 2 years ago, and a newer hot water tank. More than half of the units have been rehabilitated, offering immediate upside and reduced near-term capital expenditures. This stabilized asset operates at an impressive ~12% cap rate, generating approximately $150,000 in net annual income. An excellent opportunity for both seasoned investors and those looking to expand their multifamily portfolio in a strong rental corridor. Serious inquiries

Property Features
  • Heating Information
    • Natural Gas
    • Separate Meters
    • Steam
  • Cooling Information
    • None
  • Water Features
    • Public
Listing Courtesy: Keller Williams Paint Creek - 248-609-8000
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Median Listing Price
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Median Square Feet
Market statistics compiled from data from Michigan Regional Information Center.
EXIT UNITED REALTY PROFESSIONALS
611 W. Nine Mile Rd, Ferndale, MI 48220
Office
248 677 3220
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