248 Richter Street, River Rouge, MI 48218

• 6 baths |
• 3,691 sqft

Property 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.

Listing Status:

Active

Date Added:

April 29, 2026

Data Last Updated:

May 20, 2026 at 1:48PM

Listing Office:

RE/MAX Team 2000 : 313-561-0900

Listing Agent:

Mike Ayoub :

MLS ID:

60988186

Interior

• Heating: Forced Air

Exterior

• Style: Ranch

Construction

• General: BrickOneSlab

Location

• Road/Access: Paved
• Originating MLS: MiRealSource
• School District: River Rouge School District
• County: Wayne

Lot

• Zoning: 496A48 49 50A LOTS 48 49 AND NLY 24 FT OF LOT 50 HOODS SUB PC 496 L16 P3 WCR

Utilities

• Water: Public

Financial

• Source: MiRealSource