Excellent Air BnB and cash flow opportunity!

Recently renovated, this 4-unit property offers a mix of studio, one-bedroom and two-bedroom units, catering to a diverse tenant base and maximizing income potential. This property is in the quickly-growing North End neighborhood, walkabl to restaurants and coffee shops. With the potential for steady rental income and the recent renovations minimizing maintenance costs, this quadplex stands as a strategic investment for those seeking to build a reliable stream of passive income in an emerging Detroit neighborhood.

Due to location, unit sizes and separate entrances, this is a versatile investment and could be a blend of short, mid and long-term rentals. Updates include: full unit remodels - kitchens with granite counters and new appliances, bathrooms with new vanities and fixtures and new flooring throughout. Other recent updates: new furnaces, plumbing, roof and hot water tanks. Gas and electric meters are separate, so tenants pay their own - water, lawn and snow included in the rent. PLEASE NOTE this property has some structural repairs and the property has been priced accordingly. Inspection reports and quotes available upon request.

Request Information
on 7406 Oakland St
in Detroit, MI
Presented by Jan Dijkers at
Berkshire Hathaway HomeServices The Loft Warehouse.


Property MLS #20240036514 from Realcomp

+ Reveal additional info including schools and tax history

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+ Bedrooms

Bedrooms: 4

+ Bathrooms

Total Bathrooms: 4.00
Full Bathrooms: 4

+ Interior Features

Laundry Facility

+ Heating and Cooling

Cooling Features: Cooling: Ceiling Fan(s)
Heating Features: Forced Air
Heating Fuel: Natural Gas

+ Other Rooms

Basement Description: Unfinished

+ Exterior and Lot Features

Lighting
Private Entry
Frontage Length: 30
Road Frontage Type: Paved, Pub. Sidewalk

+ Land Info

Lot Size Acres: 0.08
Lot Size Dimensions: 30.00 x 122.00
Lot Size Square Feet: 3484

+ Garage and Parking

Garage Description: On Street

+ Rental Info

Gross Scheduled Income: 46200.00
Rent Includes: Water/Sewer, Snow Removal, Trash Collection (Garbage Pickup), Water, Yard Maintenance

+ Multi-Unit Info

Number of Units: 4
Number of Studio Units: 1
Number of 1 Bedroom Units: 2
Number of 2 Bedroom Units: 1

+ School Information

School District: Detroit
+ Display Complete School Details

Golightly Education Center is a public elementary and middle school located approximately 0.7 miles away.
Map directions

Detroit International Academy For Young Women is a public elementary, middle and high school located approximately 1 miles away.
Map directions

Gods Way Academy is a private elementary and middle school located approximately 0.4 miles away.
Map directions

+ Homeowners Association

Pets Allowed: Yes

+ Other Property Info

ActivationDate : 2024-05-30
Annual Tax Amount: 1917
Source Listing Status: Accepting Backup Offers
County: Wayne
Directions: From I-75 S, turn right on E Grand Blvd, right on Oakland Ave, subject on right
Source Property Type: Multifamily
Area: Det: Livernois-I75 6-Gd River
Source Neighborhood: STANDISHS (PLATS)
Ownership Type: Short Sale - No, Private Owned
Parcel Number: W05I004669S
Postal Code Plus 4: 1319
Subdivision: STANDISHS (PLATS)
Zoning: Multi-Family, Residential
Source System Name: C2C
+ Reveal Property Sale History

Listed 2024-05-30
$299,000
Realcomp

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Listing removed 2024-05-04
$0
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Relisted 2024-03-21
$329,000
Realcomp

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Listing removed 2024-03-07
$0
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Relisted 2024-01-31
$340,000
Realcomp

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Listing removed 2024-01-13
$0
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Listed 2023-11-20
$340,000
Realcomp

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Listing removed 2023-10-30
$0
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Price Changed 2023-09-01
$365,000
Realcomp

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Price Changed 2023-08-31
$0
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Listed 2022-09-28
$375,000
Realcomp

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Sold 2020-11-19
$115,000
Realcomp

+ Building and Construction

Total Square Feet Living: 2262
Year Built: 1910
Construction Materials: Aluminum, Brick, Vinyl
Foundation Details: Basement
Property Age: 114
Roof: Asphalt
Levels or Stories: 2 Story
House Style: 2 Story
Total Area Sqft: 2262
Total Below Grade Area: 445
Architectural Style: Quadruplex

+ Utilities

Sewer: Public Sewer (Sewer-Sanitary)
Water Source: Public (Municipal)