Description
Ferretti Group presents 4072 Blaine a rare 4 Unit apartment building located in the Petoskey-Otsego neighborhood in Detroit. This Property features 4 (2) bedroom units and a full basement. All gas and electric for each apartment is metered separately. 3 of the units have been cleaned out and whit boxed ready for the developers finishing touches. This property is all brick and has a newer roof with all new plywood, new aluminum trim and gutters. The heavy lifting on this property is done. When renovations are complete and tenants are placed, this property is projected to generate $48,000+ in annual cash flow operating at a 10.3% cap rate. There is much development going on including the $59M of Lee Plaza. For more information about construction crews and building and ask about Ferretti Speed Builds for a full construction plan.
Location
Listing Agent: Richard E Ferrette Courtesy of: 1st Michigan Real Estate IDX provided courtesy of Realcomp II Ltd. via site owner and the originating MLS listed above, ©2022 Realcomp II Ltd. Shareholders. IDX information is provided exclusively for consumers' personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. Updated: 28th January, 2023 11:54 PM (UTC)
