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$ 750,000
Est. payment | /mo
4 Baths
6,534 Sqft Lot
$ 750,000
Est. payment | /mo
4 Baths
6,534 Sqft Lot
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Municipality Plymouth
Subdivision Plymouth
MLS Listing ID 20261057040
Year Built 1972
Annual Tax Amount $6,797
Lot Size 6,534 Sqft
Acres 0.15
Lot Dimensions 50X132
Source Realcomp
Property Description
Turnkey 4-unit quadruplex in Plymouth's Historic Old Village, just blocks from downtown Plymouth and Kellogg Park. 100% leased with all four 1BR/1BA units occupied, generating $60,000 in in-place annual gross rent. Recent lease activity shows meaningful embedded rent growth: the longest-tenured resident just renewed at $1,225/mo (up 31% from her prior $935 rent), while a newly signed lease reflects a market-tested $1,325/mo, the highest in the building. Two of the four units remain priced below this level, giving a new owner a clear, low-capex path to mark rents to market as leases turn. Self-managed with a lean ~$13,300 annual operating expense load (taxes, insurance, utilities, repairs/maintenance, landscaping); no management fee has historically been charged. Tenants pay electric; owner covers water, sewer, trash, and natural gas heat. Slab foundation, vinyl exterior, asphalt roof. Ideal for a first-time investor, 1031 exchange buyer, or owner-operator seeking a turnkey income-producing asset in western Wayne County. Buyer/buyer's agent to verify all information.
Location
State MI
County Wayne
Zoning Multi-Family
Direction Southfield
Rooms
Basement Slab
Exterior
View Y/N No
Building
Water Public
Structure Type Vinyl Siding
Others
Tax ID 49005070050000
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Listed by Greater Development LLC
Nearby Locations
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Bradley Wisk
Associate Broker | Lic# MI- 6506048421 NY- 10401345439