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11603 Mitchell St
Hamtramck, MI 48212
MLS #5401531

Multi Family
  • 5units
Pending Sale $119,900
Est. P&I payment: $457.94/mo
11603 Mitchell St, Hamtramck, MI 48212
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Description for 11603 Mitchell St, Hamtramck, MI 48212
A fantastic money maker in the heart of Hamtramck. Three units have two bedrooms and 800 sq ft, two are one bedroom at 550 sq ft, and a separate two bedroom building is included that makes the five unit total. Four of five units are rented out with quiet tenants on monthly leases, one unit lived in by owner. So income is $1775/mo but projected at $2275 once all five are rented. Gutted for a remodel in the early 1990's with new electric, plumbing, doors, windows and new drywall put in. Each unit now needs cosmetic work including paint and some new kitchen & bath flooring. See the very conservative ROI calculations linked to this listing that prove over 20% return on investment at asking price even with 8.3% vacancy and $10,000 in updates (both which are high estimates). Hard to make 20% in the stock market - it doesn't get any more no-brainer than this.
MLS #5401531
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My Notes for MLS #5401531

General Features

  • Type: 1 to 4 Units
  • Est Year Built: 1950
  • Total Above Grade SqFt: 3,315
  • Total Number of Units: 5
  • Zoning: Residential

Exterior Features

  • Lot Size: 40x165
  • Lot Front: 40
  • Exterior: Wood

Utility Features

  • Water Selection: No Water Selection
  • Water/Sewer Paid By: Owner
  • Heat/Cool: Forced Air,​Gas Water Heater
  • Fuel Type: Gas/Street
  • Water/Sewer: Community/Public Water,​Sewer/Street

Financial Features

  • Sale/Rent: For Sale
  • Summer Tax: 2,484
  • Winter Tax: 1,637
  • Total Tax: 4,121
  • Terms: Cash,​Conventional

Community Features

  • Area: 100-Other MLS Areas
  • City: Hamtramck
  • Subdivision: D W SIMONS' HIGHLAND BLOC

School Features

  • School District: Hamtramck

Miscellaneous Features

  • Manufactured: No

Location

 
Street View Not Available
Directions to 11603 Mitchell St, Hamtramck, MI 48212
Exit I75 at Holbrook, take service dr to Caniff, e
The listing information for 11603 Mitchell St, Hamtramck, MI 48212 was graciously provided by our friends at the listing brokerage, RE/MAX First

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P&I Payment $457.94
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Please Note: All information in this site is deemed reliable but not guaranteed. The property information provided on EXIT Realty 1st's websites is for personal, non-commercial use only and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Property information is gathered from third-party resources including the seller and public records. EXIT Realty 1st, Onjax, LLC, its affiliates, owners, subsidiaries and subscribers disclaim any and all representations or warranties as to the accuracy or reliability of the information provided. You should verify all claims through personal inspection and/or contact with the appropriate real estate professionals.
Last Updated 12/17/2017 at 9:32pm
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