7 Florence Street

Sold 11/23/20
Sold 11/23/20
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Last Sold Price
$155,000
8 beds3,284 sqft$47/sqft
7 Florence Street, River Rouge, MI 48218

Description

Fantastic and rare opportunity to purchase an excellent cash-flowing 4 unit apartment building. You can't get any better than this! Fully occupied and turn-key investment. Each apartment is metered separately with electric and gas and owner pays water. New roof on the entire building and the building is freshly painted throughout. This building is very well cared for by the owner and current tenants. Rent could be much higher than what is currently being charged. Start increasing your annual income...Fantastic and rare opportunity to purchase an excellent cash-flowing 4 unit apartment building. You can't get any better than this! Fully occupied and turn-key investment. Each apartment is metered separately with electric and gas and owner pays water. New roof on the entire building and the building is freshly painted throughout. This building is very well cared for by the owner and current tenants. Rent could be much higher than what is currently being charged. Start increasing your annual income today!
LISTING CLOSED: 11/23/2020 12:00 AM

  1. Listed by Erik Gray • Brokerage DRE #6503329740 • Real Estate One-Southgate
    P: (734)-915-3769 C: (734)-915-3769 EGhomes2@gmail.com

Property Details for 7 Florence Street

Status
Sold
MLS #
2200073736
Days on Market
12
Taxes
$1,809 / year
HOA Fees
-
Condo/Co-op Fees
-
Property Type
Multi Family
MLS Type
Residential Income / Multi Family
Year Built
1958
Lot Size
0.10 AC / 4,356 SF
County
Wayne County
Subdivision Name
ANN VIS GERS SUB
Architectural Style
Quadruplex
Waterfront
No
Zoning Description
Multi-Family
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Location

Listing Courtesy of Real Estate One-Southgate

Sold By Keck Real Estate

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Building Information for 7 Florence Street

Stories-Residences4Year Built1958Building Size-Lot Size0.10 AC / 4,356 SF

Payment Calculator

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$939 per month

30 year fixed, 6.55% Interest

Principal and Interest

$788

Property Taxes

$151

HOA Dues

$0

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Property Information for 7 Florence Street

Summary
Location and General Information
  • Directions: Turn west on West Jefferson
  • Latitude: 42.261849
  • Longitude: -83.138068
  • Cross Street: N of Visger Rd/w of West Jefferson
  • MLS Area Major: River Rouge (82144)
Taxes and HOA
  • Parcel Number: 50004990018000
  • Tax Amount Summer: $1,284.00
  • Tax Amount Winter: $525.00
  • Tax Annual Amount: $1,809.00
  • Tax Assessed Value: $18,022.00
  • Tax Legal Description: 525D THAT PART OF LOT 3 OF ANN VIS- GERS SUBDIVISION OF PC 525 AS RECORDED IN LIBER 1 OF PLATS PAGE 162 WAYNE COUNTY RECORDS DESCRIBED AS BEGINNING AT THE INTERSECTION OF THE WLY LINE OF W JEFFERSON AVE 120 FT WIDE WITH THE SLY LINE OF FLORENCE AVE 50 FT WIDE AND PROCEEDING TH N 74D 49M W ALONG SAID SLY LINE 120.0 FT TH S 9D 03M W ALONG THE ELY LINE OF PUBLIC ALLEY 42.95 FT TH S 80D 57FT E 119.31 FT TH N 9D 03M E ALONG THE WLY LINE OF W JEFFERSON AVE 30.36 FT TO THE POB 0.10 ACRE
School Information
  • High School District: River Rouge
Parking
  • Parking Features: Paved, Unassigned
Property
Lot Information
  • Frontage Length: 119.0
  • Lot Size Acres: 0.1
  • Lot Size Area: 0.1
  • Lot Size Dimensions: 119.60X36.60
  • Encroachment: No
  • Lot Size Units: Acres
  • Road Frontage Feet: 119
  • Road Frontage Type: Paved
  • Road Surface Type: Paved
Property and Assessments
  • State Equalized Value: 21000.0
  • Living Area: 3284.0
  • Building Area Total: 3284.0
  • Above Grade Finished Area: 3284.0
  • Above Grade Finished Area Units: Square Feet
  • Below Grade Total Area: 1348.0
  • Below Grade Total Area Units: Square Feet
  • Class Name: Residential Income
  • Living Area Source: Public Records
  • Living Area Units: Square Feet
  • Year Built: 1958
Building Features
  • Construction Materials: Aluminum Siding
  • Foundation Details: Basement, Block
  • Levels: Two
  • Year Remodeled: 2020
  • Roof: Asphalt
  • Stories Total: 2
Utilities
  • Sewer: Public Sewer
  • Utilities: Natural Gas Available
  • Water Source: Public
Interior and Exterior Features
Interior Features
  • Bathrooms Total Notational: 4.0
  • Basement: Common
  • Has Basement: Yes
  • Bathrooms Full: 4
  • Bathrooms Total Integer: 4
  • Cooling: Ceiling Fans, Window Units
  • Has Cooling: Yes
  • Heating: Forced Air, Natural Gas
  • Has Heating: Yes
  • Water Heater Fuel: Common
Exterior Features
  • Patio And Porch Features: Porch
Multi Family
Multi Family Information
  • Number of Units Leased: 4
  • Number of Units Total: 4
  • Unit Records: 4
Income & Expenses
  • Gross Scheduled Income: $31,200.00
  • Net Operating Income: $28,791.00
Unit Information
Unit 1
  • Actual Rent: $650.00
  • Total Bathrooms: 1
  • Furnished: Furnished
  • Sq Ft: 821.0
  • Type: Two Bedroom
  • Total Units: 4.0
Unit 2
  • Actual Rent: $650.00
  • Total Bathrooms: 1
  • Furnished: Furnished
  • Sq Ft: 821.0
  • Type: Two Bedroom
  • Total Units: 4.0
Unit 3
  • Actual Rent: $650.00
  • Total Bathrooms: 1
  • Furnished: Furnished
  • Sq Ft: 821.0
  • Type: Two Bedroom
  • Total Units: 4.0
Unit 4
  • Actual Rent: $650.00
  • Total Bathrooms: 1
  • Furnished: Furnished
  • Sq Ft: 821.0
  • Type: Two Bedroom
  • Total Units: 4.0
Agent
Sale and Listings
  • Public GLR Website: Yes
Rental
Rent Information
  • Monthly Rental Income: $2,600.00
  • Existing Lease: Yes
  • Pets Allowed: Call
  • Rent Includes: Sewer, Water

Property History for 7 Florence Street

DateEvent & SourcePriceAppreciation
Nov 23, 2020

Sold

Realcomp #2200073736

$155,000—
Nov 23, 2020

Sold

MiRealSource #40100887

$155,000—
Sep 21, 2020

Contract Signed

Realcomp #2200073736

—
DateEvent & SourcePrice
11/23/2020

Sold

Realcomp #2200073736

$155,000
11/23/2020

Sold

MiRealSource #40100887

$155,000
09/21/2020

Contract Signed

Realcomp #2200073736

—

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

Public Records for 7 Florence Street

Taxable ValueLand-Additions-Total-
Tax Record2023$3,770 ($314 / month)
Home Facts
Beds4Baths4Total Finished SqFt3,284 SqFtAbove Grade Finished SqFt3,284 SqFtStories2Lot Size4,356 SqFtStyleSingle Family ResidenceYear Built1958ZoningB2 GENCountyWAYNEAPN50 004 99 0018 000

Schools near 7 Florence Street

This home is within River Rouge, School District Of The City Of.
Rating
School
Type
Grades
Distance
Ann Visger K-5 Preparatory Academy
Public - PK to 5
Cb Sabbath 6-8 Preparatory Academy
Public - 6 to 8
River Rouge High School
Public - 9 to 12
River Rouge Alternative Virtual Academy
Public - K to 12
Rating
School
Distance
Ann Visger K-5 Preparatory Academy
PublicPK to 5

Cb Sabbath 6-8 Preparatory Academy
Public6 to 8

River Rouge High School
Public9 to 12

River Rouge Alternative Virtual Academy
PublicK 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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Nearby home values

AddressSold priceBedsBathsSqftLot (Sqft)
This home: 7 Florence Street, River Rouge, MI 48218
$155,000
8
3,284
4,356
3406 West Jefferson Avenue, River Rouge, MI 48218
–
–
–
–
3,049
11454 West Jefferson Avenue, River Rouge, MI 48218
–
–
–
–
871
3408 West Jefferson Avenue, Ecorse, MI 48229
–
–
–
–
3,485
17 Florence Street, River Rouge, MI 48218
$73,000
4
1,224
1,742
17 Florence Street, Ecorse, MI 48229
$73,000
4
1,224
1,742

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Listing Courtesy of Real Estate One-Southgate

IDX provided courtesy of Realcomp II Ltd. via Compass and its related brokerages. Copyright 2026 Realcomp II Ltd. Shareholders. IDX information is provided exclusively for consumers' personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. Any use of search facilities of data on the site, other than by a consumer looking to purchase real estate, is prohibited. The data relating to real estate properties on this website was last updated on 09/15/2023 04:30 AM PST