35422 Smith Road

Beds
6,438 Sq. Ft.
$35 / Sq. Ft.
6,438
Sq. Ft.
$35
per Sq. Ft.

Description

Attention investor! The owner of this 7 unit apartment complex in Romulus is retiring after 20 years of ownership! It as a mix of 2 Three Bedroom units, 4 Two Bedroom units and a One Bedroom unit. All units are metered separately for gas and electric and the landlord pays for the water & sewer. This location is excellent, being under 2 miles from the new Amazon Fulfillment Center and under 5 miles from Detroit Metropolitan Airport. The projected Cap Rate is 17.12%. Don't miss out on this opportunity....Attention investor! The owner of this 7 unit apartment complex in Romulus is retiring after 20 years of ownership! It as a mix of 2 Three Bedroom units, 4 Two Bedroom units and a One Bedroom unit. All units are metered separately for gas and electric and the landlord pays for the water & sewer. This location is excellent, being under 2 miles from the new Amazon Fulfillment Center and under 5 miles from Detroit Metropolitan Airport. The projected Cap Rate is 17.12%. Don't miss out on this opportunity. Property is being sold is "AS IS" condition. Needs some TLC. Do not approach the tenants! All information is estimated and should be verified.
  1. Listed by David D Misko • Van Esley Real Estate Inc
    P: (248)-207-7388 C: (248)-207-7388 ddmisko@gmail.com

Property Details for 35422 Smith Road

Architectural Style
2 Story
Has Waterfront
No
Zoning Description
Multi-Family
LISTING CLOSED: 03/14/2019 12:00 AM

Property Details for 35422 Smith Road

StatusClosed
MLS #21551586
Days on Market46
Taxes$6,144 / year
HOA Fees-
Condo/Co-op Fees-
Property TypeMulti Family
MLS TypeResidential Income / Multi Family
Year Built1967
Lot Size0.62 AC / 27,007 SF
CountyWayne County

Location

Listing Courtesy of Van Esley Real Estate Inc

Sold By LPS

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Building Information for 35422 Smith Road

Stories2Residences7Year Built1967Building Size-Lot Size0.62 AC / 27,007 SF

Payment Calculator

$1,656 per month

30 year fixed, 6.55% Interest

Principal and Interest

$1,144

Property Taxes

$512

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

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Property Information for 35422 Smith Road

Summary
Location and General Information
  • Cross Street: Ecorse Road
  • Directions: I-94 to Wayne Road, North on Wayne Road to property. Property is on the Northwest corner of Wayne Rd and Smith Rd
  • Latitude: 42.24455798
  • Longitude: -83.38692897
  • MLS Area Major: Romulus (82121)
Taxes and HOA
  • Parcel Number: 80032990005000
  • Tax Annual Amount: $6,144.00
Property
Lot Information
  • Direction Faces: North
  • Frontage Length: 158.0
  • Lot Size Acres: 0.62
  • Road Surface Type: Paved
Property and Assessments
  • Above Grade Finished Area: 6438.0
  • Building Area Total: 6438.0
  • Property Sub Type: Multi Family
  • Property Type: Residential Income
  • Year Built: 1967
Building Features
  • Construction Materials: Brick, Aluminum Siding
  • Total Stories: 2
Utilities
  • Sewer: Public Sewer
  • Utilities: Natural Gas Available
  • Water Source: Public
Interior and Exterior Features
Exterior Features
  • Patio And Porch Features: Patio
Interior Features
  • Appliances: Gas Water Heater
  • Has Basement: Yes
  • Full Bathrooms: 7
  • Half Bathrooms: 2
  • Total Bathrooms: 9
  • Cooling: Central Air
  • Has Cooling: Yes
  • Heating: Forced Air, Natural Gas
  • Has Heating: Yes
  • Water Heater: Gas
Multi Family
Multi Family Information
  • Number Of Units Total: 7
Income & Expenses
  • Net Operating Income: $38,521

Property History for 35422 Smith Road

DateEvent & SourcePriceAppreciation
Mar 14, 2019

Sold (Public Record)

Public Record #643595477

$225,000
Mar 14, 2019

Sold

MiRealSource #21551586

$225,000
Feb 25, 2019

Contract Signed

MiRealSource #21551586

DateEvent & SourcePrice
03/14/2019

Sold (Public Record)

Public Record #643595477

$225,000
03/14/2019

Sold

MiRealSource #21551586

$225,000
02/25/2019

Contract Signed

MiRealSource #21551586

For completeness, we often displays two records for one sale: the MLS record and the public record.

Public Records for 35422 Smith Road

Taxable ValueLand-Additions-Total-
Tax Record2023$8,051 ($671 / month)
Home Facts
Total Finished SqFt6,438 SqFtAbove Grade Finished SqFt6,438 SqFtStories1Lot Size27,007 SqFtStyleMulti-Family Dwelling (2-4)Year Built1967ZoningRM-MLTICountyWAYNEAPN80 032 99 0005 000

Schools near 35422 Smith Road

This home is within Romulus Community Schools.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 6 to 12
Rating
School
Distance
Wick Elementary School
PublicK to 5

Romulus Middle School
Public6 to 8

Romulus Senior High School
Public9 to 12

Romulus Airport Virtual Academy
Public6 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of any information, descriptions or measurements (including square footage measurements and property condition), such should be independently verified through appropriate means, including, but not limited to, in person inspection and public records, and Compass International Holdings, its subsidiaries, affiliates and independently owned and operated franchisees, and their affiliated agents and associated third parties expressly disclaim any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the seller's discretion. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Van Esley Real Estate Inc

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