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$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%

No Documents for this Property