3888 Sqft, 0.09 Acres
BEAUTIFUL STAND ALONE BUILDING & A RENTAL INVESTORS DREAM BUILDING! This 5000+ SQ FT property has 4 units (3 residential and 1 commercial). Building is completely leased out with margin to increase rents. 1 bedroom unit is rented for $350 with long term tenant who's been there 7+ years ( market value for rent would be 500$) and 2 two bedrooms units with one rented at $550 with a tenant who's been there 10+ years and a just recently leased 2 bed unit for $650. The lower commercial unit is currently leased to a pharmacy at $1000.00 a month and lease terms are negotiable for that unit. Please inquire for commercial unit lease terms to better understand. CURRENT CAP RATE AT 10.7% with room to grow. SCHEDULE A SHOWING TODAY
Commercial, Real Estate Only, Apartments
Property Summary -- PIPER'S 1ST VAN DYKE FARMS: Located in Warren in the 48089 zip code, this home was built in 1936 and is 5,250 square feet with Unknown bedrooms and Unknown bathrooms on 0.09 acres. It has been on the market for 83 days with an original listing price of $219,000. 22660 Van Dyke Ave is part of the Van Dyke School District.
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