4594 3Rd St Ecorse, MI 48229
- Commercial real estate
- 2,718 SF
- 0.18 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 4594 3Rd St
- Year built
- 1943
- Lot size
- 0.18 lot acres
- Property size
- 2,718 SF
- Property type
- Commercial real estate
- APN
- 34-012-09-0163-000
Description
This exceptional investment opportunity presents a six-unit apartment building located at 4594 3rd Street, Ecorse, Michigan, 48229. The property, built in 1943, boasts a total of 2,718 square feet situated on a 0.18-acre lot. The building is a two-story structure, zoned RM2 (Multi Family Dwelling), allowing for multifamily use. Currently, all six units are occupied, offering immediate cash flow. The asking price is $249,000, translating to an attractive price per unit of $41,500. Significant improvements enhance the property's value and appeal. A new roof was installed in 2023, and all units underwent major renovations the same year. This ensures minimal immediate maintenance needs and maximizes rental income. The property's strong occupancy and recent upgrades contribute to an aggressive capitalization rate at the asking price. Detailed financial information, including a rent roll, is available upon request. This property represents a compelling investment opportunity in a stable market, offering both immediate returns and long-term growth potential. The Wayne County location provides convenient access to major transportation routes and amenities. The APN is 34-012-09-0163-000.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Ecorse
- County
- Wayne
- State
- Michigan
- Longitude
- -83.1533503
- Latitude
- 42.2398808
