NOT LISTED FOR SALE
60 Beds
60 Baths
36,411 Sq Ft
0.9 Acres

Last Sold October 06, 2017

Last sale price $2,650,000 $73 Per Sq Ft

12 Days on Market

Highlights

  • 0.9 Acre Lot
  • Balcony
  • Baseboard Heating
  • Deck
  • Porch

About This Home

As of October 2017

Silverstone Apartments consists of 60 One-bedroom units located in the strong rental market area of Mound & 14 Mile in north Warren, MI. 100% OCCUPIED with private entry. The property consists of two separate buildings on premier corners leading into a quiet residential neighborhood. The historical occupancy is excellent at 99.9% for many years. NEW ROOFS. NEW BALCONIES & STAIRS. NEW WATER HEATERS. RENOVATED UNITS. RENOVATED EXTERIOR. NEW PARKING LOTS. Opportunity to continue to increase rents as the market continues to climb. Warren is the third largest city in Michigan with a population of 135,358, making it Metro Detroit's largest suburb. Located in Macomb County about 15 miles north of downtown Detroit. Warren is home to a many businesses, shopping, entertainment and restaurants including General Motors Technical Center, Chrysler, the United States Army and Art Van Furniture.
**DO NOT APPROACH TENANTS**

Last Agent to Sell the Property

Marina Csernits

Brookstone, Realtors LLC License #6501380784 Listed on: 07/06/2017

Brookstone, Realtors LLC

Last Buyer's Agent

Non Participant

Non Realcomp Office License #RCO

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

Year Built

  • Built in 1958 | Remodeled in 2017

Lot Details

  • 0.9 Acre Lot
  • Lot Dimensions are 119x326x119x325

Parking

  • Unassigned Parking

Home Design

  • Brick Exterior Construction
  • Slab Foundation
  • Poured Concrete
  • Built-Up Roof
  • Rubber Roof

Interior Spaces

  • 60 Full Bathrooms
  • 36,411 Sq Ft Home
  • 2-Story Property

Outdoor Features

  • Balcony
  • Deck
  • Exterior Lighting
  • Porch

Utilities

  • Window Unit Cooling System
  • Baseboard Heating
  • Heating System Uses Natural Gas
  • Natural Gas Water Heater

Community Details

  • 60 Units
  • St Anne's Arden Park # 02 Subdivision

Listing and Financial Details

  • Assessor Parcel Number 1305229031

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$18,924

Year Built

Built in 1958 | Remodeled in 2017

Lot Details

0

Listing Details

  • Property Type: Multifamily
  • Architecture Style: Upper/Lower Apartment
  • Architecture Level: 2 Story
  • Year Built: 1958
  • Year Renovated: 2017
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 2

Interior Features

  • Total Bathrooms: 60.00
  • Full Bathrooms: 60
  • Total Sq Ft: 36411

Exterior Features

  • Roof Material: Built-Up, Rubber
  • Foundation Details: Slab
  • Construction Materials: Brick
  • Exclusions: Yes
  • Exterior Features: Lighting
  • Foundation Materials: Poured
  • Porch Type: Balcony, Deck, Porch
  • Road Frontage Type: Paved

Garage/Parking

  • MF Parking: Unassigned/General

Utilities

  • Heating Fuel: Natural Gas
  • Cooling: Window Unit(s)
  • Heating: Baseboard
  • Sewer: Public Sewer (Sewer-Sanitary)
  • Water Heater Fuel: Natural Gas
  • Water Source: Public (Municipal)
  • Laundry Facilities: No

Lot Info

  • List Price per Acre: 2944444.4444
  • Lot Size Area: 0.90
  • Lot Dimensions: 119x326x119x325
  • Parcel Number: 1305229031
  • Zoning: Multi-Family

Rental Info

  • Rent Includes: Heat, Water/Sewer
  • Legal Rental Certified: Yes
  • Monthly Rental Income: 39084

Tax Info

  • Tax Amount Summer: 17893.0000
  • Tax Amount Winter: 1031.0000
  • Total Tax: 18924.0000

Multi Family

  • Gross Scheduled Income: 469000.00
  • Number Of Units Total: 60

MLS Schools

  • School District: Warren Con
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
10/06/2017 10/06/17 Sold $2,650,000 0.0% $73 / Sq Ft
08/08/2017 08/08/17 Off Market $2,650,000 -- --
07/18/2017 07/18/17 Pending -- -- --
07/06/2017 07/06/17 For Sale $2,650,000 -- $73 / Sq Ft
Source: Realcomp

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $29,986 $674,710 $0 $0
2024 $290 $670,390 $0 $0
2023 $27,494 $603,340 $0 $0
2022 $26,789 $540,700 $0 $0
2021 $26,125 $419,380 $0 $0
2020 $25,233 $396,880 $0 $0
2019 $24,246 $384,370 $0 $0
2018 $0 $351,900 $0 $0
2017 $19,032 $78,150 $0 $0
2016 $18,924 $336,930 $0 $0
2015 -- $330,830 $0 $0
2012 -- $156,293 $156,293 $0
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Realcomp

MLS Number: 217054954

Realcomp