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Listing 6 out of 38
$329,900 Pending

515 E Lake Street
South Lyon, MI 48178

2 units | Multi Family Home
19166 sq ft - MLS# 219020379
Property Photo
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Description

Savvy Investor, look at this Immaculate Victorian beauty. 2 Units fully rented. Income Now! Metered Separate. Unit 1, Fully fitted with 3 bedrooms as well as 2 baths, kitchen, walk-in closets & laundry facilities. Original wood floors, covered porch, and super clean partial Michigan basement with cement floors. Lots of character. 1st-floor den/3rd bedroom off living room can open up to Unit 2 apartment. Extra 3 Season Room in back to deck overlooking private fenced yard. Unit 2 is same in Character and Utility. Unit 2 is 2 bdrm and 1 bath. Both units have newer windows. New 2 Car Garage,City services,located on a beautiful large treed lot. Walk to all the festivals. Next to Huron Valley bike trails. Zoned Light Industrial. Grandfathered in for Res/Duplex. Apt is fully fitted with all appliances as well as in the main home. Gross Rent/yr = $25920 Expenses/yr= Maint $720, Tax $5424, Ins $1236 Net Income= $18,540 Unit 1:lease extends to March of 2020. Unit 2 is Month to Month

Features

  • Property Type: Multi Family Home
  • Sub Type: Multi Family Home
  • Listing Status: Pending
  • County/Area: Oakland County
  • Zip Code: 48178
  • Year Built: 1864
  • School District: South Lyon
  • Sq.Ft.: 2,344 sq ft
  • Style: Duplex
  • Units: 2 units
  • Full Baths: 3
  • Basement: Unfinished
  • # of Parking Spaces: 6
  • Lot Size: 19166 sq ft
  • Baths: 3
  • Zoning: Light Industrial
  • Architecture Level: 2 Story
  • Conforms To Zoning: 1
  • Construction Materials: Stone, Vinyl, Wood
  • Cooling: Central Air, Separate Meter
  • Exterior Features: Fenced, Gutter Guard System, Outside Lighting, Private Entry
  • Foundation Details: Basement, Michigan Basement
  • Foundation Materials: Poured, Stone
  • Frontage Feet: 144
  • Gross Scheduled Income: 25920.00
  • Heating: Forced Air, Separate Meters
  • Heating Fuel: Natural Gas
  • Income Projection: Actual
  • Interior Features: Cable Available, High Spd Internet Avail, Laundry Facility, Pets Allowed, Programmable Thermostat, Water Softener (Owned)
  • Listing Financing: Cash, Conventional, Fha, Land Contract, Va
  • Lot Dimensions: 144 x 132 X 143 X 132
  • Monthly Rental Income: 2160
  • Net Operating Income: 18540.00
  • Number Of Units Leased: 2
  • Originating MLS: Realcomp Ii Ltd
  • Ownership Status: Private Owned, Short Sale - No
  • Parking: Garages, Paved
  • Porch Type: Deck, Patio, Porch - Covered, Porch - Enclosed
  • Rent Includes: Garbage Pickup, Water/Sewer
  • Road Frontage Type: Paved
  • Roof Material: Asphalt
  • Sewer: Sewer-Sanitary
  • Sqft Combined: 2344
  • Sqft Source: Prd
  • Sqft Total Bsmt: 885
  • Unit Count: 2
  • Unit Three Bed Number Of: 1
  • Unit Two Bed Number Of: 1
  • Water Heater Fuel: Electric, Separate Meters
  • Water Source: Municipal Water
  • Year Remodeled: 2006
Courtesy of Denovo Real Estate



Derek Bauer | 248-782-5514 | Email Me
346 N. Lafayette St. - South Lyon, MI 48178
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