12477 Loretto ST Detroitcity_wayne, MI 48205
2 Baths
1,359 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type MultiFamily
Listing Status Active
Purchase Type For Sale
Square Footage 1,359 sqft
Price per Sqft $36
Subdivision J S Visgers Loretto
MLS Listing ID 20261030806
Style Traditional
Full Baths 2
Year Built 1927
Lot Size 3,484 Sqft
Acres 0.08
Property Sub-Type MultiFamily
Property Description
This home features 2 bedrooms, each with rental potential of $1,200 per month, generating a total gross monthly income of $2,400, which equals $28,800 annually in projected rental income. With the right management and light improvements, this can become a proven cash-flowing asset.
The property does need minor upgrades and cosmetic improvements, making it ideal for investors who want to add value and increase equity quickly. A little work can go a long way in maximizing rents and resale value.
Location Highlights:
* Convenient access to Downtown Detroit, offering jobs, entertainment, dining, and nightlife
* Close to major freeways for easy commuting throughout Metro Detroit
* Near public transportation for added tenant convenience
* Located within reach of respected local school options and educational resources
* Strong rental demand area with continued neighborhood growth potential
Perfect For:
* Buy-and-hold investors
* First-time investors
* House hackers looking to live in one unit and offset expenses
* Renovators seeking equity upside
Don't miss this chance to secure an affordable income-producing property in one of Michigan's most recognized rental markets. 12477 Loretto is your opportunity to build wealth through real estate.
Location
State MI
County Wayne
Area Area05055Detconmorsgrathstn7Mack
Rooms
Basement Full, Unfinished
Interior
Heating Forced Air, Natural Gas
Fireplace No
Exterior
Pool None
View Y/N No
Garage false
Building
Foundation Basement, Block
Sewer Public Sewer
Water Public
New Construction No
Schools
School District Detroit
Others
Senior Community false
Acceptable Financing Cash, ConvBlendRt, Conventional, CovenantDeed, FHA, UsdaLoan, VaLoan, WarrantyDeed
Listing Terms Cash, ConvBlendRt, Conventional, CovenantDeed, FHA, UsdaLoan, VaLoan, WarrantyDeed
Special Listing Condition ShortSaleNo, Standard
Pets Allowed Yes
