$190,000
$219,000
13.2%For more information regarding the value of a property, please contact us for a free consultation.
15801 W WARREN Avenue Detroit, MI 48228
2,500 SqFt
Key Details
Sold Price $190,000
Property Type Commercial
Sub Type Real Estate Only
Listing Status Sold
Purchase Type For Sale
Square Footage 2,500 sqft
Price per Sqft $76
Subdivision Hellner Estates (Plats)
MLS Listing ID 20240001213
Sold Date 04/18/24
Originating Board Realcomp II Ltd
Year Built 1952
Annual Tax Amount $2,530
Lot Size 2,178 Sqft
Acres 0.05
Lot Dimensions 22.00 x 100.00
Property Description
Welcome to this versatile mixed-use commercial property located in a W Warren . This property seamlessly combines the convenience of retail space with the comfort of residential living. The ground floor houses a thriving appliance store, offering a diverse range of home appliances and generating a steady monthly lease income of $1,600.
The strategic location ensures a steady flow of foot traffic, contributing to the store's success and stability.
On the upper floors of the property, there are two residential units that add to the property's overall value. The first unit generates $800 in monthly rental income, providing a cozy and private living space. The second unit, also upstairs, generates $500 monthly which can easily be leased out to 800 as well and offers an affordable housing option in this vibrant neighborhood.
The mixed-use nature of this property presents a unique investment opportunity, allowing the owner to diversify income streams and benefit from both commercial and residential markets. With a total monthly income of $2,900, this property promises a sound return on investment and the potential for future growth in a dynamic and thriving community.
Location
State MI
County Wayne
Area Det - Joy-Dbn Ht Grnfld-Limits
Zoning Commercial
Direction Drive East on west warren past Southfield freeway and location should be on the right on Forrer and W Warren Ave
Exterior
Road Frontage Paved
Building
Sewer Public Sewer (Sewer-Sanitary)
Water Public (Municipal)
Level or Stories 1 Story
Structure Type Brick
Schools
School District Detroit
Others
Tax ID W22I000076S
Ownership Short Sale - No,Private Owned
Assessment Amount $450
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing Cash,Conventional
Special Listing Condition Full Service
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Bought with EXP Realty LLC