Merton Road | 1000 Merton Rd
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Merton Road 1000 Merton Rd
20 Unit Block of Flats £743,328 (£37,166/Unit) 9.78% Net Initial Yield Detroit, MI 48203
Investment Highlights
- 50% of occupancy are tenants with guaranteed agency rental payments
- Prime Location! Conveniently located by Palmer Park, grocers, restaurants, shopping, major freeways and bus line.
- Spacious 1 and 2 bedroom units - some with balconies.
Executive Summary
SUPERB INVESTMENT OPPORTUNITY IN THE CITY OF DETROIT!! 1000 Merton Rd is a 20 unit apartment building with 12 one bedroom units and 8 two bedroom units. This building has a 100% monthly rental collection rate. There are many long-term tenants in this building. 50% of the building is occupied by tenants who receive guaranteed monthly rental payments from agencies. 1000 Merton Rd is conveniently located in near Palmer Park, major grocers, markets, restaurants, multiple shopping centers along 8 Mile Rd and Woodward Ave., major freeways I-75 and I-696 and the Woodward Ave bus line that goes from Downtown Detroit to the Northern Suburbs in Oakland County. Please call Marcos at (305)360-2304 for more details. Serious inquiries only, please.
Data Room Click Here to Access
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
£150,687
|
£7.56
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
£150,687
|
£7.56
|
| Taxes |
£16,610
|
£0.83
|
| Operating Expenses |
£61,386
|
£3.08
|
| Total Expenses |
£77,996
|
£3.91
|
| Net Operating Income |
£72,691
|
£3.65
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | £150,687 |
| Annual Per SF | £7.56 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | £150,687 |
| Annual Per SF | £7.56 |
| Taxes | |
|---|---|
| Annual | £16,610 |
| Annual Per SF | £0.83 |
| Operating Expenses | |
|---|---|
| Annual | £61,386 |
| Annual Per SF | £3.08 |
| Total Expenses | |
|---|---|
| Annual | £77,996 |
| Annual Per SF | £3.91 |
| Net Operating Income | |
|---|---|
| Annual | £72,691 |
| Annual Per SF | £3.65 |
Property Facts
| Price | £743,328 | Building Class | C |
| Price Per Unit | £37,166 | Lot Size | 0.43 AC |
| Sale Type | Investment | Building Size | 19,928 SF |
| Net Initial Yield | 9.78% | Average Occupancy | 100% |
| No. Units | 20 | Number of Floors | 2 |
| Property Type | Residential | Year Built | 1946 |
| Property Subtype | Apartment | Parking Ratio | 0.75/1,000 SF |
| Apartment Style | Low Rise |
| Price | £743,328 |
| Price Per Unit | £37,166 |
| Sale Type | Investment |
| Net Initial Yield | 9.78% |
| No. Units | 20 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.43 AC |
| Building Size | 19,928 SF |
| Average Occupancy | 100% |
| Number of Floors | 2 |
| Year Built | 1946 |
| Parking Ratio | 0.75/1,000 SF |
Unit Amenities
- Balcony
- Cable Ready
- Wooden Floors
- Refrigerator
- Oven
- Range
- Carpet
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 1+1 | 12 | - | 700 |
| 2+1 | 8 | - | 900 |
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PROPERTY TAXES
| Parcel Number | 02-0025623 | Total Assessment | £397,798 (2024) |
| Land Assessment | £0 (2024) | Annual Taxes | £16,610 (£0.83/sf) |
| Improvements Assessment | £0 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
02-0025623
Land Assessment
£0 (2024)
Improvements Assessment
£0 (2024)
Total Assessment
£397,798 (2024)
Annual Taxes
£16,610 (£0.83/sf)
Tax Year
2023
zoning
| Zoning Code | R5 (Moderate Density Residential) |
| R5 (Moderate Density Residential) |
-
Kim Chaskin -
Marcos Wilamowsky
- Rock City Management Group
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Merton Road | 1000 Merton Rd
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