3792 Clements Detroit (18.1% CAP rate)
THIS HOME IS PENDING. It gives an impression how Profit Homes renovates a property.
Three family flat near Russel Woods, I96 and a couple of miles from New Center and Henry Ford Hospital.
Nice block, 6 Bedrooms, 3 kitchens, 3 baths, 2600 sqft.
Cap 18.9%, price $70,000, $12,730 income per year.
Re-wire electrical in all units and replumbed house. All drywall and ceilings repaired, scraped mud and painted. Refinished hardwood floors and new click laminate in kitchen area. Roof completely reshingled, new windows, new kitchen cabinets, countertops, sink, faucet and backspalsh and new bathrooms. New porch steps.
New furnaces and hotwater tanks.