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$430,000
Est. payment /mo
4 Baths
7,840 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Municipality Village of Romeo
Subdivision Village Of Romeo
MLS Listing ID 20261010122
HOA Y/N true
Year Built 1950
Annual Tax Amount $8,427
Lot Size 7,840 Sqft
Acres 0.18
Lot Dimensions 120X66
Source Realcomp
Property Description
LAND CONTRACT TERMS: $230,000 DOWN 7% AMORTIZED OVER 30 YEARS, BALLOON BALANCE AFTER 5 YEARS....Excellent investment opportunity in the heart of Romeo just walking distance to vibrant downtown shops, restaurants, and community events. This well-maintained 4-unit multi-family property features two spacious 1-bedroom, 1-bath units, including two main-level units and two upper studio units. Two of the units offer full basements for additional storage and functionality. All units are occupied by long-term tenants, providing immediate and stable cash flow. Current gross monthly income is $3,415 with strong upside potential, as market rents could support income exceeding $4,000 per month. The property offers plenty of on-site parking to accommodate all occupants. The owner currently pays water, a small common electric bill, gas, lawn care, and snow removal. The roof is newer, and the building has been consistently well maintained, contributing to excellent tenant retention. To avoid disturbing tenants, showings will be scheduled upon an accepted offer only.
Location
State MI
County Macomb
Area Macomb County - 50
Zoning Multi-Family,Residential
Direction West of Main St North side of Saint Clair
Interior
Heating Forced Air
Exterior
Amenities Available Pets Allowed
View Y/N No
Building
Structure Type Aluminum Siding,Brick
Schools
School District Romeo
Others
Tax ID 0135352011
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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Listed by Move Realty LLC
NEARBY SCHOOL & BUSINESS
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