6022-6028 APPOLINE, Dearborn, MI 48126
6022-6028 APPOLINE, Dearborn, MI 48126
6022-6028 APPOLINE, Dearborn, MI 48126
6022-6028 APPOLINE, Dearborn, MI 48126
6022-6028 APPOLINE, Dearborn, MI 48126
6022-6028 APPOLINE, Dearborn, MI 48126
Franny Kanalos
Franny Kanalos

Associate Broker License ID: 6506047312

+1(586) 243-1533

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$ 410,000

$ 449,900 8.9%

Est. payment | /mo

4 Baths

3,024 SqFt

$ 410,000

$ 449,900 8.9%

Est. payment | /mo

4 Baths

3,024 SqFt

Key Details

Sold Price $410,000

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Sold

Purchase Type For Sale

Square Footage 3,024 sqft

Price per Sqft $135

Subdivision Mi

MLS Listing ID 61003290

Sold Date 08/07/26

Style 2 Story

Full Baths 4

Year Built 1927

Annual Tax Amount $6,425

Lot Dimensions 36X132

Property Sub-Type Multi-Family

Property Description

6022-6028 APPOLINE PRESENTS A STRONG, FULLY OCCUPIED 4-UNIT MULTIFAMILY OPPORTUNITY IN DEARBORN.? THE PROPERTY CONSISTS OF FOUR SPACIOUS 1-BEDROOM / 1-BATH UNITS, APPROXIMATELY 800 SQUARE FEET EACH, WITH CURRENT GROSS INCOME OF $3,515 PER MONTH.? THE MOST RECENT LEASE WAS SIGNED AT $915 PER MONTH, SHOWING CLEAR RENTAL UPSIDE AS IN-PLACE RENTS REMAIN BELOW MARKET.? THE BUILDING HAS BENEFITED FROM MEANINGFUL CAPITAL IMPROVEMENTS, INCLUDING HVAC REPLACEMENT WORK BY DETROIT FURNACE IN 2021, MAJOR PLUMBING UPGRADES BY FROST & KRETSCH FROM 2020-2021, NEW FRONT PORCH STEPS AND MASONRY IN 2022, AND EXTERIOR REPAIRS COMPLETED FOR THE CITY OF DEARBORN CERTIFICATE OF OCCUPANCY IN 2020.? APPLIANCES HAVE ALSO BEEN REPLACED AS UNITS TURNED OVER.? TENANCY IS STABLE, WITH ZERO MOVE-OUTS SINCE 2023.? CURRENT TENANTS AVERAGE APPROXIMATELY FIVE YEARS IN PLACE, WITH THE LONGEST TENANT IN PLACE FOR ABOUT SEVEN YEARS.? THREE OF THE FOUR UNITS ARE CONVENTIONAL MONTH-TO-MONTH TENANCIES, PROVIDING FLEXIBILITY FOR A FUTURE OWNER-OCCUPANT OR INVESTOR.? UNIT 6028 #4 IS A HOUSING-VOUCHER TENANCY WITH APPROXIMATELY $595 OF THE $875 RENT PAID DIRECTLY BY THE HOUSING AUTHORITY AND CONSISTENT PAYMENTS DATING BACK TO 2019.? WITH STABLE OCCUPANCY, DEPENDABLE INCOME, RECENT MAJOR IMPROVEMENTS, AND REAL UPSIDE THROUGH RENTAL GROWTH, THIS IS AN ATTRACTIVE DEARBORN MULTIFAMILY ASSET FOR INVESTORS OR OWNER-OCCUPANTS SEEKING INCOME AND FLEXIBILITY.?

Location

State MI

County Wayne

Area Dearborn (82093)

Zoning Residential

Rooms

Basement Block

Interior

Heating Forced Air

Fireplace No

Exterior

Exterior Feature Brick

Building

Story 2 Story

Foundation Basement

Water Public Water

Structure Type Brick

Schools

School District Dearborn City School District

Others

Ownership Private

Energy Description Natural Gas

Acceptable Financing Cash

Listing Terms Cash

Financing Cash,Conventional

MiRealSource (MI RealSource (Lenawee /Saginaw/SE-Border/Gr Shiawassee/Upper Peninsula)
Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource.
Listed by Century 21 Curran & Oberski
Bought with LPS

NEARBY SCHOOL & BUSINESS

Franny Kanalos

+1(586) 243-1533

frannyk@epique.me

44633 N Gratiot Ave, Clinton Twp, MI 48036, USA

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6022-6028 APPOLINE