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7226 AMERICAN Street Detroit, MI 48210
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Key Details
Sold Price $42,000
Property Type Single Family Home
Sub Type Colonial
Listing Status Sold
Purchase Type For Sale
Square Footage 2,654 sqft
Price per Sqft $15
Subdivision Dovercourt Park (Plats)
MLS Listing ID 20230036302
Sold Date 08/03/23
Style Colonial
Bedrooms 6
Full Baths 2
HOA Y/N no
Originating Board Realcomp II Ltd
Year Built 1923
Annual Tax Amount $1,292
Lot Size 3,920 Sqft
Acres 0.09
Lot Dimensions 36.00 x 109.00
Property Description
Welcome to this fantastic income property in the heart of Detroit! This hidden gem is bursting with potential and is eagerly awaiting the right buyer to complete its transformation into a lucrative cash cow. With the rough-ins already completed, you're one step closer to reaping the rewards of this investment opportunity. It's a handyman special that can build tons of sweat equity.
The plumbing rough-in has been expertly finished, setting the foundation for the property's functionality. Additionally, a partial upgrade to the electrical system has been undertaken, ensuring safety and modernization. Many new windows have been thoughtfully installed, offering abundant natural light and enhancing the property's curb appeal.
One of the most exciting features of this property is the unfinished attic, which is connected to the second-floor unit. With some vision and effort, it could be transformed into a charming living space, adding considerable value to the second unit. The possibilities for this attic conversion are limited only by your imagination.
The second unit itself boasts three bedrooms, with one wall currently demolished between two of them. This wall can easily be rebuilt, restoring the unit to its original three-bedroom configuration. This flexibility allows you to customize the space to suit your needs or the preferences of potential tenants.
While this property requires an investor to bring it to its full potential for a landlord and tenant situation, each unit already has separate access to their basements, ensuring privacy and convenience for both occupants. Additionally, the gas and electric utilities are already separated, simplifying future management and facilitating accurate billing. There is a single water meter for the property, streamlining maintenance and reducing costs.
This house, with its unfinished project awaiting the right buyer, presents a unique opportunity for those with a discerning eye for potential. Detroit's real estate market is thriving, come get some.
Location
State MI
County Wayne
Area Det South Of Grand River
Direction North of E Warren, West of Livernois
Rooms
Basement Unfinished
Interior
Heating Forced Air
Fireplace no
Heat Source Natural Gas
Exterior
Parking Features Detached
Garage Description 2 Car
Road Frontage Paved
Garage yes
Building
Foundation Basement
Sewer Public Sewer (Sewer-Sanitary)
Water Public (Municipal)
Architectural Style Colonial
Warranty No
Level or Stories 2 Story
Structure Type Brick
Schools
School District Detroit
Others
Tax ID W18I013568S
Ownership Short Sale - No,Private Owned
Assessment Amount $340
Acceptable Financing Cash
Listing Terms Cash
Financing Cash
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Bought with EXP Realty LLC