Detroit, United States of America
Multi-family, 4 bedroom 2 bathroom home originally constructed in 1931 and recently renovated. The property offers a spacious 173.6m2 of living space over two floors, with a basement and a garage. The unit has been converted into 2 single-family apartments consisting of 2 bedrooms and 1 bathroom each.
In addition, the property comes complete with a built-in fireplace in the living room, forced air heating and central cooling offering a warm, comfortable environment in the winter and cool, fresh space in the summer.
Detroit is the largest city in the Midwestern state of Michigan. Near Downtown, the neoclassical Detroit Institute of Arts is famed for the Detroit Industry Murals painted by Diego Rivera, and inspired by the city’s ties to the auto industry, giving it the nickname "Motor City."
Detroit is also the birthplace of Motown Records, whose chart-topping history is on display at their original headquarters in Hitsville, U.S.A.
Recently refurbished, this property offers fantastic rental returns of 10.48%*. Not only that, the property is fully certified and comes under the Federal Governments Section 8 Rental plan meaning that the rental is partially guaranteed by the US government. This plan also serves to reduce tenancy risk on the property.
In addition to that, numerous private and state lead initiatives are focusing on rebuilding Detroit, its downtown neighbourhoods and increasing employment. We believe that all of these factors combined will help to drive property prices in the area higher in the near future and further increase investors’ returns.
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