Eastpointe, MI 48021
MLS# 20261042699
This fully occupied, income-producing triplex offers strong cash flow from day one. The historic three-story brick building features three units — a three-bedroom, one-bath at 1,310 square feet and two one-bedroom, one-bath units — delivering $3,929 in monthly rental income and nearly $46,000 in annual gross income and CAP Rate of 7.5%. All units are leased, separately metered, and tenants pay electric. Rent covers heat-gas, water-sewer, snow removal, trash, and yard maintenance. Units 1 and 3 are Section 8, providing guaranteed government-backed rental payments.Major updates completed by the previous owner include a new roof, windows, and furnace in 2017–2018, and new exterior doors and water heater in 2020–2021. A single water heater and furnace service all units via a programmable thermostat. The partially finished basement houses a shared laundry facility, a half bath for landlord/property manager use, and 4 storage rooms. A detached 3 car garage sits vacant, offering additional rental income potential.Unit 1 features a private four seasons room filled with leaded glass windows and abundant natural light. Unit 2 enjoys a private balcony. The third level loft with original leaded glass windows presents an opportunity to be finished as a fourth income-producing unit. Sale includes all kitchen appliances, three washer/dryer sets, three window AC units, and an active Rental Certificate.
Listed by Christian Draheim · National Realty Centers, Inc
Estimate only — principal & interest, no taxes or insurance. Rates change daily; confirm with your lender.
$1,694/mo
$67,000 down · $268,000 financed
Listing information is deemed reliable but not guaranteed and is provided exclusively for consumers' personal, non-commercial use. Listings are provided courtesy of the participating listing broker. This information is believed accurate but is not warranted and all measurements and calculations are approximate.
36 photosActive19039 Elsmere Avenue, Eastpointe, MI 48021
Eastpointe, MI 48021
3 bd · 3 ba · 3,109 sqft
8 photosActive24901 Gratiot Avenue, Eastpointe, MI 48021
Eastpointe, MI 48021
Commercial · 5,052 sqft
4 photosActive24915 Gratiot Avenue, Eastpointe, MI 48021
Eastpointe, MI 48021
Commercial · 3,945 sqft