 |  |  | WE RECEIVED A QUIT CLAIM DEED AND WILL CONVEY BY QUIT CLAIM DEED AS IS / WHERE IS INFORMATION DEEMED RELIABLE BUT NOT GUARANTEED. AS IS WHERE IS . DESCRIPTON UP FOR AUCTION IS A 6 UNIT APARTMENT BUILDING LOCATED IN THE WAYNE STATE UNIVERSITY AREA. THIS BUILDING IS A 3 STORY BUILDING , WITH A FULL BASEMENT. THIS BUILDING HAS 60 FEET OF FRONTAGE ON THE SERVICE DRIVE OF INTERSTATE 94 FREEWAY. IN ADDITION TO THE RENTS THE LANDLORD WILL COLLECT FROM TENANTS , AND WITH WAYNE STATE UNIVERSITY AND ITS STUDENT BODY OF SEVERAL THOUSAND WALKIN DISTANCE , THE TENANTS WILL LIKELY BE COLLEGE STUDENTS , THERE IS ALSO THE POSSIBILITY OF ERECTING A BILLBOARD FOR ADDED REVENUE. AS CAN BE SEEN IN THE PHOTOS , THE PROPERTY NEXT DOOR HAS AN OPERATING BILLBOARD. I BELIEVE THERE TO BE AMPLE SPACE IN THE BACK LOT FOR A BILLBOARD THAT CAN BE SEEN BY THE THOUSANDS OF CARS AND TRUCKS THAT TRAVEL THAT STRETCH OF I-94 DAILY. THE BUILDING HAS BEEN REHABBED IN RECENT YEARS. UPDATES INCLUDE : SIX NEW BALCONIES IN THE BACK OF THE BUILDING , NEW SIDING ON THE 3RD FLOOR , NEW ROOF , NEW SOFITS , NEW TRIM , TUCKPOINTING TO THE BRICKS THAT NEEDED IT. REBUILT FRONT PORCH , NEW WINDOWS THRUOUT. UPDATED PLUMBING , INCLUDING A SPRINKLER SAFETY SYSTEM , UPDATED ALUMINUM DUCKTWORK , UPDATED ELECTRICAL. INTERIOR HAS HAD NEW SUBFLOORS INSTALLED THRU OUT , NEW STUDS THRUOUT. TO FINISH THE PROJECT , YOU WILL NEED TO DRYWALL THE ENTIRE INTERIOR , INSTALL 6 NEW FURNACES , (THE DUCTWORK IS ALREADY IN. INSTALL FLOOR COVERINGS , FINISH THE KITCHENS AND BATHROOMS. PROPERTY BACKS UP TO NEW CONSTRUCTION AND NEW CONSTRUCTION ABOUNDS IN THE AREA. MARKET RENTS : $800 PER MONTH PER UNIT.
THERE ARE NO DELINQUENT TAXES OWED ON THIS PROPERTY.
ANNUAL PROPERTY TAX IS APPROX $900. PER YEAR.
 
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NEIGHBORS : TO THE EAST A LARGE LOT WITH AN INCOME GENERATING BILLBOARD. TO THE WEST A HISTORIC HOUSE , NEXT TO THE HISTORIC HOUSE IS A CHURCH , AND ACROSS THE STREET FROM THE CHURCH IS WAYNE STATE UNIVERSITY BUILDINGS. LAST PHOTO IS OF NEW CONSTRUCTION TOWNHOUSES DIRECTLY BEHIND THE PROPERTY 
 
$500 CLOSING COSTS COVERS NOTARY, RECORDING FEES , TRANSFER TAXES , COURIER FEE , OVERNIGHT MAIL |
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