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240 GOLDEN GATE Highland Park, MI 48203
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Key Details
Property Type Commercial
Listing Status Sold
Purchase Type For Sale
Square Footage 2,700 sqft
Price per Sqft $59
MLS Listing ID 20230052778
Sold Date 09/12/23
Year Built 1928
Annual Tax Amount $2,589
Lot Size 6,534 Sqft
Acres 0.15
Lot Dimensions 60.00 x 111.00
Source Realcomp
Property Description
LOCATED 5 MINUTES FROM THE INFAMOUS PALMER PARK HISTORIC DISTRICT, YOU WILL FIND 240 WEST GOLDEN GATE NESTLED ON A 6,534 SQUARE FOOT LOT IN A QUIET NEIGHBORHOOD OF HOMEOWNERS. THIS TRIPLEX CONSISTS OF 3 RECENTLY REMODELED SECTION 8 UNITS. EACH UNIT HAS BEEN UPGRADED AND HAS ENTIRELY BRAND NEW ELECTRICAL AND PLUMBING TO INSURE MAINTENANCE FREE CASH FLOW. FURTHERMORE THE ENTIRE COMPLEX HAS NEW ELECTRICAL AND PLUMBING FROM TOP TO BOTTOM. EACH SPACIOUS UNIT HAS FRESHLY ROLLED PAINT AND MAINTENANCE FREE FLOORING. THE UNITS ARE ALL LEASED TO SECTION 8 TENANTS AND THE MONTHLY DIVIDENDS ARE $3255 PAID BY SECTION 8. THE TENANTS PAY ALL UTILITIES WITH CENTRAL HEAT, WHICH ALLOWS THIS COMPLEX TO MAINTAIN A NEAR 20% CASH ON CASH RETURN. PROPERTY TAXES HAVE BEEN REDUCED TO ROUGHLY $250 PER MONTH. THIS DIAMOND WILL BE IN A LUCKY OWNER'S FINGERTIPS SOON! NO SHOWINGS WITHOUT ACCEPTED FULL LIST OFFER.
Location
State MI
County Wayne
Area Wayne County - 100
Zoning Multi-Family
Direction GOLDEN GATE & CHARELSTON
Rooms
Basement Basement
Interior
Heating Hot Water
Exterior
View Y/N No
Building
Foundation Block
Structure Type Brick
Schools
School District Detroit
Others
Tax ID W01I006423C4
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