4253 Grand Detroit (18.2% CAP rate)

Three family flat near Russel Woods, I96 and a couple of miles from New Center and Henry Ford Hospital.

Nice block, 6 Bedrooms, 2 kitchens, 2 baths, 2600 sqft.

Cap 18.2%, price $70,000, $12,760 income per year.

Two apartments renovated in 2017/2018 and tenanted. The third apartment is renovated by Profit Homes before closing and rent guaranteed.

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 is inspected and repaired. New kitchen cabinets, countertops, sink, faucet and backspalsh and new bathrooms.

Newer boiler installed and hotwater tanks.

Tug point is done with warmer weather.

Annual Income
Rental income
Property tax
Property management