38 Ridge StEcorse, MI 48229

Property Details for 38 Ridge St

Property type

Residential income homes

Description

This exceptional investment opportunity presents a portfolio of six single-family homes located in Ecorse, Michigan, within Wayne County, and zip code 48229. The properties are situated at 38 Ridge St, 27 Ridge St, 30 Ridge St, 59 E Glenwood Ave, 4241 6th St, and 38 E Westfield St. Currently generating a Net Operating Income (NOI) of $35,950, resulting in an 8.46% capitalization rate (Cap Rate). A pro-forma analysis projects a NOI of $44,728, yielding a 10.52% Cap Rate, indicating significant potential for increased profitability. The current total monthly rent is $6,250. Market analysis suggests that rental income can be increased to over $7,000 per month through strategic rent adjustments. This portfolio offers immediate cash flow and a compelling opportunity to expand a rental investment portfolio. The asking price for this turnkey investment is $425,000. This represents a rare chance to acquire a well-positioned, multi-unit rental property with substantial upside potential in a growing market. The properties are ready for immediate income generation, making this an attractive option for both seasoned and new investors seeking a strong return on investment.

Location Insight

City

Ecorse

County

Wayne

State

Michigan

Latitude

42.2563

Longitude

-83.1414

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].