14528 LAPPIN Street Detroit, MI ^$ 526,000

14528 LAPPIN Street

^$ 526,000

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14528 LAPPIN Street

Detroit, MI, 48205

^$ 526,000

Studio Baths2.0 Sq 1,350

Monthly Estimate*

^$ 3,674

14528 LAPPIN Street, Detroit, MI 48205 - Image 1

Studio

Multi-Family Home for sale in Detroit, MI

for $526,000 with 2 full baths. This 1,350 square foot home was built in 1926 on a lot size of 0.1.

A turnkey investment opportunity in Detroit awaits you! *This tenant-occupied 7-property 12-unit portfolio offers a 14.30% cap rate on current rents, with upside from rent increases due on many units. Properties included: 14570 Lappin, 14988 Lappin, 14258 Lappin, 14534 Lappin, 14845 Maddelein, 14465 Maddelein, and 15030 Rossini. *** Tenant-occupied homes please do not approach the properties or disturb tenants. Viewing/inspection upon signed LOI.

Multi-Family Active

Price

^$ 526,000

Bedrooms

Studio

Full Bath

Property Type

Multi-Family

Taxes

^$ 1,197

Style

Bungalow

Lot Size

0.1

Year Built

1926

Town/City

Detroit

County/Region

Wayne

MLS | Web ID

60258200

Features

General

Heating Forced Air

Possession Rental Agreement

Water Public Water

Status Active Active

Full Baths 2

Half Baths 0

Bathrooms 2

Year Built 1926

Subdivision GRATIOT AMERICAN PARK MI

Style Bungalow

County Wayne

Class MULTIFAMILY

Type Multi-Family

Percent Ownership Private

Municipality Detroit

Zoning Multi-Family

Structure Style 2 Story

Area Detroit (82001)

Primary City Detroit

Directions N of 7 Mile/E of Gratiot

City Detroit

School District Detroit City School District

Street Name LAPPIN

Financial Terms Cash Conventional

Legal Description S LAPPIN 232 GRATIOT AMERICAN PARK SUB L38 P55 PLATS W C R 21/707 35 X 126.7

DOM 211

Postal Code 48205

Price Per Sq Ft 389.63

Coming Soon A turnkey investment opportunity in Detroit awaits you! *This tenant-occupied 7-property 12-unit portfolio offers a 14.30% cap rate on current rents

Interior

Basement Block

Fireplace? No

Total Number of Units 2

Fuel Type Natural Gas

Exterior

Exterior Other

Frontage 35

Lot Size Area 0.1

Lot Dimensions 35.00 x 127.00

Roads Paved Street

Waterfront Y/N No

* Excluded Features

List By

Kevin Devergilio

Listing Agent

Realteam Real Estate

Broker

kevin@mirealteam.com

Affordability Calculator

$3,774

Per Month

Monthly Principal & Interest: $3,674
Monthly Property Taxes: $100
Monthly Home Insurance: --

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Yearly Property Taxes

Yearly Home Insurance

Default based on a 30-year fixed rate of 7.49% 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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Nearby

Trends
Schools

Multi-family listings in Detroit, MI

Average List Price ^$212,766

Percent of Sale Price 60%

About Detroit, MI

633,657 Population

-33% Since 2002

^$26,977 Median Income

36.23 Median Age

26% Households with Children

View more area information

Trends Information provided by ATTOM Data Solutions.

759604 Elementary School

760475 Middle School

Unknown High School High School

See complete school information

Pricing History

Date	Price	Price Change	Description
9/25/2023	$526,000		Listed Price

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14528 LAPPIN Street, Detroit, MI, 48205 is a Multi-Family Home for sale at $526,000 with 1,350 sqft and a lot size of 0.1. 14528 LAPPIN Street is a studio with 2.0 baths and was built in 1926. The property's zip code is 48205 which is in Detroit, MI

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 7.49% 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.

Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource.

The information published and disseminated by MiRealSource is communicated verbatim, without change by MiRealSource, as filed with MiRealSource by its members. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified.

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14528 LAPPIN Street

Multi-Family Home for sale in Detroit, MI

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