Ranch-Style 6-Unit
248 Richter St River Rouge, MI 48218
248 Richter St, River Rouge, MI, 48218
$319,900
For Sale
$319,900
Fully occupied six-unit, single-story building with four 2-bedroom and two 1-bedroom units, plus on-site parking.
Days on Market74
Property Features for 248 Richter St
General Information
- Standard status
- Active
- Property subtype
- Investment
Building Details
- Year Built
- 1957
Listing agency
(313) 561-0900
Listed by
Mike Ayoub · License #6501294452
(313) 561-0900
Source
Elliman
Added: May 9 Updated: Jul 21 at 5:44PM Checked: Jul 21 at 5:44PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Mike Ayoub
Investment Insights
Based on property information with market context.
This fully occupied, ranch-style, single-story multifamily property consists of six units arranged with no upper or lower apartments. The mix includes four 2-bedroom units and two 1-bedroom units, and each unit has its own private bathroom. Tenants are responsible for their own gas and electric utilities, and the building is offered as-is.
The property sits on a prominent corner lot and includes on-site parking. It is located near Belanger Park and the Detroit Riverfront, with buyer to verify all information and measurements.
All six units are currently occupied, generating gross rental income of approximately $55,200 annually. The estimated net operating income is approximately $43,000 per year.
The property sits on a prominent corner lot and includes on-site parking. It is located near Belanger Park and the Detroit Riverfront, with buyer to verify all information and measurements.
All six units are currently occupied, generating gross rental income of approximately $55,200 annually. The estimated net operating income is approximately $43,000 per year.
Key Highlights
- Fully occupied 6‑unit multifamily building, single‑story ranch‑style, built in 1957
- Unit mix: four 2‑bedroom units and two 1‑bedroom units, each with its own private bathroom
- Gross rental income of approximately $55,200 annually with estimated annual NOI of approximately $43,000
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FAQs
What type of property is this?
Apartment building - Fully occupied six-unit, single-story building with four 2-bedroom and two 1-bedroom units, plus on-site parking.
Where is this apartment building located?
The property is located at 248 Richter St River Rouge, MI.
What is the asking price?
The asking price for this property is $319,900.
What are key features of this property?
This property features: Fully occupied 6‑unit multifamily building, single‑story ranch‑style, built in 1957; Unit mix: four 2‑bedroom units and two 1‑bedroom units, each with its own private bathroom; Gross rental income of approximately $55,200 annually with estimated annual NOI of approximately $43,000
