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Excel Legacy Realty Team

hankrealtyexec@gmail.com +1(586) 598-5988

$ 575,000

Est. payment -/mo

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Price Dropped by $25K

70190 Main Street Richmond, MI 48062

10 Beds

6 Baths

4,662 SqFt

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 4,662 sqft

Price per Sqft $123

Subdivision Mi

MLS Listing ID 50194315

Style 2 Story

Bedrooms 10

Full Baths 6

Year Built 1910

Annual Tax Amount $9,026

Lot Size 0.340 Acres

Acres 0.34

Lot Dimensions 56x266

Property Sub-Type Multi-Family

Property Description

Incredible investment opportunity with this fully occupied five-unit multi-family property located just minutes from Downtown Richmond. This property is ideal for both seasoned and new investors. It features two separate buildings. The main house is a triplex that includes a one-bedroom, one-bath unit of approximately 600 square feet, a two-bedroom, one-bath unit of approximately 850 square feet, and a two-bedroom, two-bath unit of approximately 1,100 square feet with a finished basement and carport. Each unit has been well maintained with updates such as newer furnaces, hot water tanks, AC wall units, flooring, and kitchen and bath remodels. The rear duplex was fully converted in 2021 from a storage structure into two modern apartments. The renovation included all-new utilities for gas, water, sewer, and electric, along with new interiors, fixtures, flooring, and a fire suppression system. One unit offers three bedrooms and one bath, and the other includes two bedrooms, one bath, and a small office. All units are separately metered for gas, electric, and water, which helps maintain low operating expenses. Tenants are currently on month-to-month leases, offering flexibility for the next owner. With its recent updates, efficient utilities, and strong rental performance, this property is a turnkey, income-producing investment in a prime Richmond location. Showings will be accommodated with an accepted offer.

Location

State MI

County Macomb

Area Richmond (50032)

Rooms

Basement Partially Finished

Interior

Interior Features Fire Sprinkler

Heating Baseboard, Forced Air, Radiant

Cooling Ceiling Fan(s), Wall/Window A/C, Window Unit(s)

Fireplace No

Appliance Dishwasher, Dryer, Range/Oven, Refrigerator, Washer

Exterior

Exterior Feature Vinyl Siding

Parking Features Carport

Building

Lot Description Deep Lot - 150+ Ft.

Story 2 Story

Foundation Basement, Slab

Water Public Water

Structure Type Vinyl Siding

Schools

School District Richmond Community Schools

Others

Ownership Private

SqFt Source Public Records

Energy Description Natural Gas

Financing Cash,Conventional

MiRealSource (MI RealSource (Lenawee /Saginaw/SE-Border/Gr Shiawassee/Upper Peninsula)

Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource.

Listed by KW Platinum

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Contact Us

+1(586) 598-5988

hankrealtyexec@gmail.com