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280 Richton Street Highland Park, MI $ 574,995
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$ 574,995 Get more info
280 Richton Street
$ 574,995
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280 Richton Street

Highland Park, MI, 48203
$ 574,995
Baths0.0 Sq 21,696

Monthly Estimate*

$ 3,822

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Studio

Commercial Property for sale in Highland Park, MI

for $574,995. This 21,696 square foot building was built in 1928 on a lot size of 0.22.

Welcome Highland Park, MI! Nestled within a vibrant community, this charming apartment building offers a comfortable lifestyle just moments away from local amenities. Conveniently located near major highways and public transportation, commuting is a breeze. Don't miss out on this opportunity to experience urban living at its finest in Highland Park with easy access to Davison Freeway and the John C. Lodge Freeway. Investing in real estate in Highland Park, MI, presents opportunities for investors to benefit from affordability, potential appreciation, steady rental demand, favorable location, and redevelopment prospects. This property has been prepared for restoration. Looking for the right investor to take on a new project. There is a lot of opportunity and potential. Commercial storefronts can be used for business or be converted to add additional residential units. SALE OF THIS PROPERTY ALSO INCLUDES A BONUS VACANT LOT ACROSS THE STREET AT 279 RICHTON ST. This allows for future development opportunities to create additional profits and return on investment. 280 Richton St is a four story vacant brick building that includes 34 residential units as well as 4 commercial units on the ground level for a total of 38 units: Number of 1 Bedroom Units: 30 Number of 2 Bedroom Units: 3 Number of 3 Bedroom Units: 1 Number of Commercial Units: 4 Investing in real estate in Highland Park, MI, can be advantageous for several reasons: -Affordability: Compared to nearby areas, real estate prices in Highland Park may be more affordable, offering opportunities for investors to acquire properties at lower costs. -Potential for appreciation: Highland Park is undergoing revitalization efforts, which could lead to an increase in property values over time as the area develops and improves. -Rental demand: With its proximity to Detroit and various amenities, Highland Park can attract renters seeking affordable housing options. Investors can capitalize on steady rental demand and potentially achieve attractive rental yields.

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Commercial Active

Price

$ 574,995

Bedrooms

Studio

Property Type

Commercial

Taxes

$ 10,829

Style

Lot Size

0.22

Year Built

1928

Town/City

Highland Park

County/Region

Wayne

MLS | Web ID

20240032890
Features
Interior
Heating Fuel Natural Gas
Street Suffix Street
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General
Sewer Public Sewer (Sewer-Sanitary)
Heating Forced Air
Possession At Close
Zoning Commercial Multi-Family
Year Built 1928
Property Type Commercial
Subdivision Name BESSENGER & MOORE SUB - H. PARK
Transaction Type Sale
Status Active
Short Sale No
Construction Materials Brick
Cumulative Days on Market 13
MLS Area Highland Park
Directions Hamilton Ave & Richton St
City Highland Park
Terms Offered Cash Conventional Trade/Exchange
School District Highland Park
Land Contract 0
Ownership Status Short Sale - No Private Owned
Street Name RICHTON
Assessment 0.00
Total Sq Ft 21696
DOM 13
Taxes 10829.0000
Legal Description 3477 W. 140 FT. OF LOT 40 BESSENGER AND MOORE'S SUB 1/4 SEC'S 15 AND 26 10000 AT L23 P41 WCR
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Exterior
Waterfront 0
Lot Size Area 0.22
Water Source Public (Municipal)
Foundation Slab Basement
Lot Size Dimensions 69.10 x 140.00
Roof Material Rubber
Architecture Level 4-10 Story
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Internal Only
Originating MLS Realcomp II Ltd
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* Excluded Features
List By
Dennis Jakub

Listing Agent

Re/Max Connection

Broker

(248) 505-2509

Phone

Affordability Calculator

$4,724
Per Month
81%
19%
0%
Monthly Principal & Interest
$3,822
Monthly Property Taxes
$902
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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The time to sell is now
THE TIME TO SELL IS NOW!
Nearby
848269 Elementary School
848380 Middle School
Unknown High School High School
See complete school information
Pricing History
DatePricePrice ChangeDescription
5/15/2024$574,995 Listed Price

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280 Richton Street, Highland Park, MI, 48203 is a Commercial Property for sale at $574,995 with 21,696 sqft and a lot size of 0.22. 280 Richton Street is a studio with 0.0 baths and was built in 1928. The property's zip code is 48203 which is in Highland Park, MI

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