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248 Richter, 
River Rouge, MI 48218

$319,900


Bed


6

Baths


-

Sq Ft


Multi-Family

Active

Listed by

Mike Ayoub

RE/MAX Team 2000

313-561-0900

Last updated:

May 22, 2026, 10:12 AM

MLS#

60988186

Source:

MI REALSOURCE

About This Home

248 Richter

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.

Home Facts

Multi-Family

6 Baths

Built in 1957

Price Summary

319,900

MLS #:

60988186

Last Updated:

May 22, 2026, 10:12 AM

Added:

23 day(s) ago


Rooms & Interior

Bathrooms

Total Bathrooms:

6

Full Bathrooms:

6


Structure

Structure

Year Built:

1957


Lot

Lot Size (Sq. Ft):

6,098


Finances & Disclosures

Finances

Price:

$319,900

Source:MI REALSOURCE
The information being provided by Michigan Mls/Mirealsource is for the consumer’s personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The information is deemed reliable but not guaranteed and should therefore be independently verified. © 2026 Michigan Mls/Mirealsource All rights reserved.

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Contact an Agent

Yes, I would like more information. Please use and/or share my information with a Coldwell Banker ® affiliated agent to contact me about my real estate needs. By clicking Contact, I request to be contacted by phone or text message and consent to being contacted by automated means. I understand that my consent to receive calls or texts is not a condition of purchasing any property, goods, or services. Alternatively, I understand that I can access real estate services by email or I can contact the agent myself.

If a Coldwell Banker affiliated agent is not available in the area where I need assistance, I agree to be contacted by a real estate agent affiliated with another brand owned or licensed by Anywhere Real Estate (BHGRE®, CENTURY 21®, Corcoran®, ERA®, or Sotheby's International Realty®). I acknowledge that I have read and agree to the terms of use and privacy notice.