100% Occupied Turnkey Detroit Triplexes - Fixed Subsidized Sec. 8
These properties are in the Russell Woods area, which is targeted for Detroit Planning and Development. This is key for anyone who purchases in Detroit. As the city develops the area, the property values increase rapidly within 5 years. It is a designated local historic district with low vacancy, historic bungalow style brick homes throughout and and a stable community with many homeowners.
The neighborhood contains strong community organizations, an active neighborhood association and two retail corridors with current and projected developments into year 2030. Bonus: Boots on the ground representing the owner's interest and excellent property management available.
Current owner pays utilities. Operating expenses includes Property/Asset Management Fees
Cash Flow Analysis
Gross Rent Revenue: $5,258/mo; $63,096/yr
Operation Expenses: $1,192/mo; $14,305/yr
Vacancy Rate (8.3% 18 Month Cycle): ($5,255)/18 mo.
Net Operating Income (NOI): $3,774/mo; $45,228/yr
Deal Specifics
CASH ONLY – PRIVATE SALE
• Proof of Funds for Entire Purchase
• Submit Purchase Agreement (PA), with $5,000 ($2,500 ea.) Earnest Money Deposit to Title Company
• Rent Roll with verified rents available once PA Signed
• 7 Day Close