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Jessica A Wilson

jannewilsonrealtor@gmail.com +1(313) 399-5605

$ 465,000

Est. payment | -/mo

5 Baths

2,214 SqFt

Save

$ 465,000

Est. payment | -/mo

Save

5 Baths

2,214 SqFt

Key Details

Property Type Multi-Family

Sub Type MultiFamily

Listing Status Active

Purchase Type For Sale

Square Footage 2,214 sqft

Price per Sqft $210

Subdivision Robert Oakmans Oakman Blvd & Miller Ave

MLS Listing ID 20261045677

Style Colonial

Full Baths 5

Year Built 1930

Lot Size 4,356 Sqft

Acres 0.1

Property Sub-Type MultiFamily

Property 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

State MI

County Wayne

Area Area05093Dearborn

Rooms

Basement Unfinished

Interior

Heating Baseboard, Natural Gas

Fireplace No

Exterior

Pool None

View Y/N No

Garage false

Building

Foundation Basement, Block

Sewer Public Sewer

Water Public

New Construction No

Schools

School District Dearborn

Others

Senior Community false

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Special Listing Condition ShortSaleNo, Standard

Pets Allowed Cats Ok

Listed by Ali T Charara of Century 21 Curran & Oberski

Schools and Properties Nearby

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+1(313) 399-5605

jannewilsonrealtor@gmail.com

6838 Park Ave, Allen Park, MI, 48101-2036, USA

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6037 Appoline ST Dearborn, MI 48126