This maintenance-free investment property was fully renovated in 2013 with a new roof, drywall, trim, cabinets, counters, closets, plumbing, furnaces, water heaters, driveway, walkways, heavy-duty porches,100-amp circuit panels, and new ENERGY Star Windows. The property consists of three units with suggested market rents of $1,100 (4 BR Upper), $750,00 (2 BR lower), and $650 (1 BR lower). The monthly gross income could be $2,500, or $30,000/year. Each unit has a high-efficiency natural gas furnace and power-vented natural gas water heater keeping the utility costs for your tenants very low. There are separate washer/dryer hookups in the basement (access is an exterior side door) in the same utility room that showcases the four 100-amp circuit breaker panels. The 4th 100-amp circuit breaker panel is required for the shared entrance and the exterior security floodlight. All walls and attic have been insulated to industry best standards set forth by Focus on Energy, and all shared walls and floors have been soundproofed with dense-packed cellulose. Your tenants will appreciate the reduced noise transfer from their adjoined tenants. There are no chimneys in this property as all were taken down below the first-floor level during the deep renovation in 2013. There is no old wiring as all wires have been replaced with Romex style wire. There are no iron or copper supply pipes in this house as all have been replaced with PEX tubing. This property is extremely energy efficient and considered "maintenance-free". Unlike many investment properties, this home was purchased and renovated with attention to detail and with great care. This was intended to be a long-term investment for the owner with the intent of never selling. But life changes and after 10 years of ownership the property is now for sale. Located just 1 block from Gateway Technical College and just 3 blocks from the beautiful shores of Lake Michigan, this property is an investor's dream and is priced for positive cashflow while financing costs are still low.
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
