Welcome to this fantastic investment opportunity in a prime locatio n!

This 2-story 3 unit building features two sizeable apartments upstairs, each 938 sqft with 2 bedrooms and 1 bath. The lower level is 1876 sqft currently being used as living quarters but can be reverted back to business use as store, retail, office and more, offering unlimited possibilities for additional income streams. Each unit provides a private entrance.

Located in an area with high traffic counts and high visibility. This property is perfect for entrepreneurs looking to establish a business in a prime community. The apartments provide a steady rental income, making this property a lucrative investment for any savvy investor. CAP RATE 8% or more (current rent is well below area average). Land contract avalable. We will consider all reasonable offers. Huge lot would allow plenty of space for expansion. Tennant pays all utilities.

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on 21710 29 Mile Rd
in Ray, MI
Presented by John Bolos at
CENTURY 21 AAA North.


Property MLS #50147586 from MiRealSource

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+ Bedrooms

Bedrooms: 5

+ Bathrooms

Total Bathrooms: 3 / 0
Full Bathrooms: 3
Bathroom 1 Description: Total Bathrooms: 3

+ Appliances

Dryer
Freezer
Range/Oven
Refrigerator
Washer

+ Heating and Cooling

Cooling Features: Central A/C
Heating Features: Forced Air
Heating Fuel: Natural Gas
Water Heaters: Gas

+ Exterior and Lot Features

Fenced Yard
Roads: City/County, Paved Street

+ Land Info

Lot Size Acres: 0.65
Lot Size Dimensions: 144x187x27x223
Lot Size Square Feet: 28314

+ Garage and Parking

Parking Features: 3 or More Spaces

+ Multi-Unit Info

Number of Units: 3

+ School Information

School District: New Haven Community Schools
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New Haven High School is a public high school located approximately 6.2 miles away.
Map directions

Endeavour Elementary and Middle School is a public elementary and middle school located approximately 3 miles away.
Map directions

+ Rental Info

Lease Assignable: No

+ Other Property Info

Source Listing Status: Active
County: Macomb
Source Property Type: Multi-Family
Area: Ray Twp (50005)
Source Neighborhood: Ray Twp (50005)
Parcel Number: 21-05-22-227-001
Property Location: Corner Lot
Township: Ray Township
Property Subtype: 1 to 4 Units
Source System Name: C2C
+ Reveal Property Sale History

Listed 2024-07-05
$445,000
MiRealSource

+ Building and Construction

Total Square Feet Living: 3752
Year Built: 1942
Foundation Details: Slab
Property Age: 82
Levels or Stories: 2
Structure Type: 2 Story

+ Utilities

Sewer: Septic
Water Source: Private Well