×

Email Properties Request

loading...
Search Properties


1-888-289-6349

info@bankonit.com

Bank On It www.8884u2sell.com
  • Check Our Inventory!
  • Home
  • Sell Your Home
  • The Network
  • Edit Profile

Join Our Buyers List

Your Source For Flip, Income, & Wholesale Properties!

Seller Sign up
Check Our Inventory!

12 Units, Fully Rented in Detroit for ONLY $40,000 a Door!



$480,000

SOLD

11160 E 7 Mile Rd.

Detroit, MI

  • Current Rents:

    Unit 1 - 1 BR - $480.00
    Unit 2 - 1 BR - $480.00
    Unit 3 - 1 BR - $480.00
    Unit 4 - 1 BR - $490.00
    Unit 5 - Studio - $400.00
    Unit 6 - Studio - $400.00
    Unit 7 - 1 BR - $490.00
    Unit 8 - 1 BR - $490.00
    Unit 9 - 1 BR - $500.00
    Unit 10 - 1 BR - $460.00
    Unit 11 - Studio - $400.00
    Unit 12 - Studio - $400.00

  • 11160 E Seven Mile Rd - Current Financials:

    Total Gross Monthly Income: $5,470
    Annual Gross Income: $66,540.00

    Expenses:
    Management Fees: 8%
    Taxes: $2,550.00
    Dumpster: $1,056.00
    Utilities: $8,469.00
    Insurance: $4,970.00
    Misc.: $7,250.00

    Actual Net Income:
    $36,993.80

    Current Cap Rate: 8%

  • 11160 E Seven Mile Rd - Proforma:

    Potential Gross Monthly Rental Income: $7,300.00
    Potential Annual Gross Income: $87,600.00

    Potential Net Income: $56,297.00
    Potential Net Income: $48,238.00

    Potential Cap Rate: 12%


Documents

 
No Documents for this Property


  • Sale Comps $700K - $730K
  • Rental Comps $5,470 - $7,300
  • Property Type Commercial
  • Location Detroit, MI 48234
  • Size 7810 sq. ft.
  • Bedrooms 12
  • Bathrooms 12
  • TAV 90.3K
  • Annual Taxes $0
  • Year Built 1966

About Us

At Bank On It! we specialize in investment and wholesale real estate. We are the premier resource for sale-priced properties including wholesale deals, bank owned properties, pre-foreclosure, short sales, probate, bad tenant, and seriously damaged real estate.

Contact

  • 1-888-289-6349
  • info@bankonit.com

Check out Bank On It founders Gene and Angelo on Flip Wars on A&E !

Also, Bank On It's founders Gene and Angelo will be appearing on the FLIP SIDE of the Earth as Flip Wars airs on A&E Australia and A&E Asia!   More Info

© Bank On It 2025 | Terms of Use | Privacy Policy