Remarks

Prime Investment Opportunity in Lincoln Park! This high-visibility mixed-use property on Southfield Rd offers a projected gross annual income of $51,000 with low annual expenses of $9,300. The commercial storefront is leased for $1,500/month with 5 years remaining on the lease, while the residential units include a move-in ready 2-bedroom (projected at $1,000/month), a 1-bedroom being prepped for re-rental (projected at $800/month), and a 2-bedroom rented month-to-month at $1,000/month. Additional features include separate utilities for each unit, shared basement storage, and a history of passing annual city inspections. With solid income potential and manageable expenses, this is an outstanding opportunity for investors. Schedule your showing today!

Details

MLS#: 20240089506
Price: $399,900

Style: Real Estate Only
Sq Ft: 3600
Year Built: 1926

County: Wayne
Subdivision: SUBURBAN PARK SUB
Lot Size: 0.05
Tax Fee: 7559.0

School District: Lincoln Park