6037 Appoline Street

EXCELLENT 5-UNIT MULTIFAMILY INVESTMENT OPPORTUNITY LOCATED AT 6037 APPOLINE.? THIS WELL-MAINTAINED BUILDING OFFERS A STRONG UNIT MIX, STABLE TENANCY, AND CLEAR UPSIDE THROUGH LEASING THE CURRENT VACANT UNIT.? FOUR OF THE FIVE UNITS ARE OCCUPIED WITH CURRENT GROSS RENT OF $3,550 PER MONTH, AND THE LARGEST 1-BEDROOM UNIT, APPROXIMATELY 700 SF, IS CURRENTLY BEING MARKETED AT $925–$950 PER MONTH.? THE PROPERTY HAS BENEFITED FROM SEVERAL IMPORTANT IMPROVEMENTS, INCLUDING MAJOR BOILER AND MECHANICAL WORK COMPLETED BY DETROIT FURNACE IN DECEMBER 2021, UNIT RENOVATIONS, FLOORING UPDATES, BATHROOM AND KITCHEN IMPROVEMENTS, AND EMERGENCY/EXIT LIGHTING INSTALLED FOR THE CERTIFICATE OF OCCUPANCY.? APPLIANCES HAVE ALSO BEEN REPLACED AS NEEDED ON TURNOVER.? WITH TWO LEASES COMMITTED THROUGH 2026 AND 2027, LONG-TERM TENANTS IN PLACE, ON-SITE LAUNDRY, AND RENTAL UPSIDE WITH UNIT 4, THIS PROPERTY OFFERS BOTH IMMEDIATE CASH FLOW AND A VALUE-ADD OPPORTUNITY FOR AN INCOME-FOCUSED BUYER.?