11151 CLINTON RIVER Road Active Save Request In-Person Tour Request Virtual Tour
Sterling Heights,MI 48314
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Municipality Sterling Heights City
Subdivision Sterling Heights City
MLS Listing ID 20240077489
Originating Board Realcomp
Year Built 1960
Annual Tax Amount $5,560
Lot Size 0.690 Acres
Acres 0.69
Lot Dimensions 155.00 x 194.00
Property Description
SUPERIOR income property with TONS of improvement value still remaining to maximize this investment as a multi-unit residence - or keep it open and enjoy a spaciously large; vastly updated single family residence! Situated on 3/4 of an acre, surrounded by protected woodland, completely fenced in with a boat gate, this beautiful property feels like the country…yet is in the PERFECT LOCATION. Situated next to Hall Rd, 19 mile, in the center of the major community river walk renovation, all major shopping and ease of transportation, this location is highly desirable and extremely large! Generate $63,000 yearly income, with a $677,900 approximate complete improvement value, for approximately $25,000 (being provided by the seller!). This unfinished 3,353 SF colonial/split ranch includes 2 kitchens and a kitchenette, 3 laundry rooms, 3.5 baths, 7 bedrooms + Studio, 3 separate entrance/exit points. Updated electrical, plumbing, new furnace, 30-year roof, new flooring, high end casement windows, new countertops and cabinets (with granite on hand for any investor to finish the kitchenette with downstairs! Add an egress window for $5k to maximize with your concessions and increase your income opportunity into three units by finishing the studio)! All bedrooms in unit #1 were previously individually rented at $800/mo (x3) each, generating $2,400/mo. income. The anticipated income of having all three units occupied is $63,000 per year (minimally). The anticipated improvement value is $677,900 upon completion. Seller is willing to complete additional scope of repairs in written offer (and is consistently working on the home to improve value). Realtor is the seller and primary occupant. Furniture in home negotiable for purchaser to make furnished units. Supplies and materials to finish home included. Riding lawnmower included. With these kinds of return on investment (+ $223,406 with $25,000 invested), this property won't last long! Come see it today. Must be accompanied by Realtor.
Location
State MI
County Macomb
Area Macomb County - 50
Zoning Multiple
Direction Corner of 19 mile and Clinton River Road
Rooms
Basement Crawl Space
Interior
Heating Forced Air
Cooling Central Air
Exterior
View Y/N No
Roof Type Composition
Handicap Access Accessible Kitchen,No Step Entrance
Building
Water Public
Structure Type Aluminum Siding,Brick
Others
Tax ID 1003454010
Acceptable Financing Assumable,Cash,Conventional,FHA,Rural Development
Listing Terms Assumable,Cash,Conventional,FHA,Rural Development
Special Listing Condition {"Other":true}