$3,000,000
Wayne, MI 48184
MLS# 25047757
32 baths | 16000 sqft
1 / 13
Property Description
PROPERTY WAS FULLY REFURBISHED 2018 RECENTLY GONE THROUGH UPDATES IN MANY OF THE APPARTMENTS OCCUPANCY HAS BEEN BROUGHT UP 90% WITH A NUMBER OF SECTION 8 RENTERS IN THE RENT ROLL
Details
Maps
Location Property Info
County: Wayne
Street #: 25911
Street Direction: W
Street Name: MICHIGAN AVE
Suffix: Avenue
State: MI
Zip Code: 48184
Area: Wayne County - 100
OfficeContract Info
Status: Active
Current Price: $3,000,000
List Price: $3,000,000
Listing Date: 2025-09-17
General Property Info
New Construction: No
Lot Measurement: Acres
Lot Acres: 0.88
Lot Square Footage: 38333
Lot Dimensions: 106/357
Year Built: 1960
Road Frontage: 106
Mineral Rights: No
Total # Units: 32
# Fin Bldg Lvls: 16000
# of Diff Unit Floor Plans: 2
Total # Bldgs: 1
Total SqFt: 16000
Total Net SqFt: 16000
Property Use Type: Investment
Full Baths: 32
Total Baths: 32
Waterfront: No
School District: Inkster
Elementary School: Daly School
Middle School: Tomlinson Middle School
High School: Robichaud Senior High School
Tax Info
Tax ID #: 44020010008020
Taxable Value: 693450
SEV: 69260
For Tax Year: 2024
Seller's Annual Property Tax: 53078
Tax Year: 2024
Non-Conforming Use: No
Zoning: COMMERCIAL
Income and Expenses
Annual Maint ($): 100000
Annual Prop Ins ($): 11000
Net Operating Income: 172920
Total Actual Rent: 337200
Operating Expense: 159280
Waterfront Options
Water Access Y/N: No
Property Features
Uses: Retail
Ownership: LLC
Business Includes: Equipment; Furniture; Real Estate
Construction Type: Frame/Wood
Exterior Material: Brick; Vinyl Siding
Roofing: Composition
Foundation: Slab
Sewer: Public Sewer
Water: Public Water
Utilities Attached: Cable Connected; Electricity Connected; Natural Gas Connected
Util Avail at St: Cable Available; Electricity Available; Natural Gas Available; Phone Available
Heat Source: Electric; Natural Gas
Heat Type: Ductless; Forced Air
Air Conditioning: Wall Unit(s); Window Unit(s)
Driveway: Gravel
Purchase Terms Avail: Cash; Conventional; Purchase Money Mtg; Tax Def Exchange
Sale Conditions: None
Possession: Close Of Escrow; Negotiable; Subject To Tenant Rights
Listing Office: D and E Realty
Listing Agent: David Shepherd
Last Updated: September - 17 - 2025
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