See all 45 photos
45 photos
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$600,000
Est. payment /mo
5,364 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type RealEstateOnly
Listing Status Active
Purchase Type For Sale
Square Footage 5,364 sqft
Price per Sqft $111
Subdivision Trombley Park
MLS Listing ID 20251046375
Year Built 1929
Property Sub-Type RealEstateOnly
Property Description
LOCATED 8 MINUTES FROM THE INFAMOUS EAST ENGLISH VILLAGE DISTRICT, YOU WILL FIND 18037 PELKEY NESTLED ON A 5,364 SQUARE FOOT LOT IN A QUIET NEIGHBORHOOD OF HOMEOWNERS. THIS CROWN JEWEL BOASTS A BRAND NEW ROOF TO ENSURE REPEAT DIVIDENDS FOR MANY YEARS TO COME. YOUR APARTMENT COMPLEX CONSISTS OF 10 RECENTLY REMODELED 1 BED ROOM 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 BRAND NEW CARPET WITH TOP OF THE LINE UNDERLAYMENT. 10 OF THE 10 UNITS ARE LEASED TO SECTION 8 TENANTS AND THE MONTHLY DIVIDENDS ARE JUST UNDER $10,000 PER MONTH. THE TENANTS PAY ALL UTILITIES, WHICH ALLOWS THIS COMPLEX TO MAINTAIN OVER 20% CASH ON CASH RETURN. PROPERTY TAXES HAVE BEEN REDUCED TO ROUGHLY $100 PER MONTH. THIS DIAMOND WILL BE WRAPPED AROUND A LUCKY OWNER'S FINGER SOON! NO SHOWINGS WITHOUT ACCEPTED FULL LIST OFFER.
Location
State MI
County Wayne
Area Area05054Det8Togratiothoustonto7
Interior
Heating Baseboard, Electric, HotWater
Exterior
View Y/N No
Roof Type Other
Garage false
Building
Foundation Basement, BrickMortar, Poured
Sewer PublicSewer
Water Public
New Construction No
Schools
School District Detroit
Others
Senior Community false
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition ShortSaleNo, Standard
Read Less Info
©2025 Realcomp II Ltd. Shareholders
Listed by Lauryn Johnson of KW Domain
Get More Information
Coldwell Banker Town & Country Real Estate
Broker | License ID: 308761
Broker License ID: 308761
Quick Search