15105 Maplewood Ave, Eastpointe, MI 48021

Description

This fully occupied, income-producing triplex offers strong cash flow from day one. The historic three-story brick building features three units -- a three-bedroom, one-bath at 1,310 square feet and two one-bedroom, one-bath units -- delivering $3,929 in monthly rental income and nearly $46,000 in annual gross income and CAP Rate of 7.5%. All units are leased, separately metered, and tenants pay electric. Rent covers heat-gas, water-sewer, snow removal, trash, and yard maintenance. Units 1 and 3 are Section 8, providing guaranteed government-backed rental payments. Major updates completed by the previous owner include a new roof, windows, and furnace in 2017-2018, and new...