11151 CLINTON RIVER Road Sterling Heights, MI 48314
UPDATED:
11/20/2024 01:37 AM
Key Details
Property Type Multi-Family
Sub Type Colonial
Listing Status Active
Purchase Type For Sale
Square Footage 2,145 sqft
Price per Sqft $186
MLS Listing ID 20240077489
Style Colonial
Bedrooms 2
Full Baths 3
Half Baths 1
Originating Board Realcomp II Ltd
Year Built 1960
Annual Tax Amount $5,560
Lot Size 0.690 Acres
Acres 0.69
Lot Dimensions 155.00 x 194.00
Property Description
Generate $63,000 yearly income, with a $677,900 approximate complete improvement value, for approximately $25,000 (being provided by the seller!). This unfinished 3,353 SF colonial/split ranch includes 2 kitchens and a kitchenette, 3 laundry rooms, 3.5 baths, 7 bedrooms + Studio, 3 separate entrance/exit points. Updated electrical, plumbing, new furnace, 30-year roof, new flooring, high end casement windows, new countertops and cabinets (with granite on hand for any investor to finish the kitchenette with downstairs! Add an egress window for $5k to maximize with your concessions and increase your income opportunity into three units by finishing the studio)!
All bedrooms in unit #1 were previously individually rented at $800/mo (x3) each, generating $2,400/mo. income. The anticipated income of having all three units occupied is $63,000 per year (minimally). The anticipated improvement value is $677,900 upon completion. Seller is willing to complete additional scope of repairs in written offer (and is consistently working on the home to improve value). Realtor is the seller and primary occupant.
Furniture in home negotiable for purchaser to make furnished units. Supplies and materials to finish home included. Riding lawnmower included.
With these kinds of return on investment (+ $223,406 with $25,000 invested), this property won't last long! Come see it today. Must be accompanied by Realtor.
Location
State MI
County Macomb
Area Sterling Heights
Zoning Multiple
Direction Corner of 19 mile and Clinton River Road
Rooms
Basement Partially Finished, Private
Interior
Interior Features 100 Amp Service, Circuit Breakers, ENERGY STAR® Qualified Window(s), Other, Fuses, Laundry Facility
Hot Water Natural Gas
Heating ENERGY STAR® Qualified Furnace Equipment, Forced Air
Cooling Central Air
Fireplace no
Heat Source Natural Gas
Laundry 1
Exterior
Exterior Feature Gutter Guard System, Private Entry, Fenced
Garage Spaces 5.0
Waterfront no
Roof Type Composition
Accessibility Accessible Doors, Accessible Entrance, Accessible Kitchen, Accessible Washer/Dryer, Common Area
Porch Patio, Porch
Road Frontage Paved
Garage yes
Building
Foundation Crawl, Basement
Sewer Septic Tank (Existing)
Water Public (Municipal)
Architectural Style Colonial
Level or Stories 3 Story
Structure Type Aluminum,Brick,Brick Veneer (Brick Siding)
Schools
School District Utica
Others
Pets Allowed Yes
Tax ID 1003454010
Ownership Broker/Agent Owned,Short Sale - No
Assessment Amount $529
Acceptable Financing Assumable (Asm-Lend App), Cash, Conventional, FHA, FHA 203K, USDA Loan (Rural Dev)
Rebuilt Year 2024
Listing Terms Assumable (Asm-Lend App), Cash, Conventional, FHA, FHA 203K, USDA Loan (Rural Dev)
Financing Assumable (Asm-Lend App),Cash,Conventional,FHA,FHA 203K,USDA Loan (Rural Dev)
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