Agent profile image in chat bubble
Agent profile image in chat header

Jim Blehm

Team Owner, Realtor® | The Blehm Group | Keller Williams

Agent profile image in message

248 Richter St , River Rouge, MI 48218
$319,900
Est. Payment: $1,647.32/mo
0 Bed
6 Bath
0 Sqft
Status: pending | Days on site: 84
Get Pre-Qualified
VCR-C15903466 - VCR-C159091383,VCR-C159052275

By providing your number, you are expressly consenting, in writing, to receive telemarketing and other messages, including calls or texts at the number you provided above. This consent is not required to purchase any good or service. Message and data rates may apply. Text STOP to cancel.

This site is protected by reCAPTCHA and the GooglePrivacy Policy and Terms of Service apply.

Agent profile image
Jim Blehm
Team Owner, Realtor®

House Description

Rare opportunity to own a fully occupied 6-unit multifamily investment property in the heart of River Rouge, conveniently located near Belanger Park and the Detroit Riverfront. This unique ranch-style, single-story apartment building offers a highly desirable layout with no upper or lower units — a major advantage for both tenants and investors due to ease of maintenance, accessibility, and strong long-term rental appeal.The property features four spacious 2-bedroom units and two 1-bedroom units, each with its own private bathroom. All six units are occupied and generating approximately $55,200 annually in gross rental income with an estimated net operating income of approximately $43,000 per year. Tenants are responsible for their own gas and electric utilities, helping keep owner expenses lower and improving overall investment performance. For investors analyzing returns, the numbers make sense and offer an attractive cap rate opportunity depending on financing structure and purchase price.Situated on a prominent corner lot, the property also includes on-site parking. This is an excellent opportunity for investors seeking immediate cash flow, stable occupancy, and a low-maintenance multifamily asset with upside potential.Please do not disturb tenants. Property is being sold as-is. Buyer to verify all information and measurements.

Highlights

Listed by Mike Ayoub , RE/MAX Team 2000 , 313-561-0900. MichRIC

Property Type

Multi-Family

Lot/Acreage
0.14

HOA Fee

Year Built

1957

County

Wayne

Neighborhood

River Rouge City

School District

River Rouge

Listing ID

20261029620

Questions about this listing?

Contact Agent

Interior Features

Bedrooms and Bathrooms
  • Bedrooms:0
  • Bathrooms:6
  • Full Bathrooms:
Basement:Slab
Other:Public

Exterior Features

Principal Interest
$1,647
Taxes
$424
HOA
$0

Home Price

$319,900

Loan Details

30 yrs
6.676%

Down Payment

20%
$63,980
All calculations are estimates and provided by Blueroof360. Today’s Rates provided by Blueroof360. Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Monthly Price:
$1,647.32

Principal

Taxes

Principal Taxes HOA Total
Monthly $1,647.32 $424.08 $0.00 $2,071.41
Yearly $19,767.88 $5,089.00 $0.00 $24,856.88
Total $593,036.38 $152,670.00 $0.00 $745,706.38
Lender profile image
Brian Belinger
Loan Originator
GET PRE-QUALIFIED

Never Miss a Property

Be the first to know when a property hits the market.

Current Listings

Last 30 Days
N/A
Aug 2026

Average Price

All Price Ranges
N/A
Aug 2026

Average Days on Market

All Price Ranges
N/A
Aug 2026
Market insight data is pulled from the same city as the listing being viewed (River Rouge, MI).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.

Information provided by Southwestern Michigan Regional Information Center, LLC and is deemed reliable but not guaranteed accurate.

Data last updated: 2026-08-02T23:53:55.000Z

© 2026 MichRIC