$829,900 Price Analysis    ♡   Detroit, MI 48209 Unknown bed 0 bath unknown SqFt ($0/SqFt) 7,405SqFt lot. Built 1923 Listed 2024-07-16, Taxes $16,602 | Ⓧ USDA Ineligible due to price & location near Fort Wayne |
Welc ome to your next investment opportunity in the heart of Southwest Detroit!
This 10-unit building is a beacon of potential, boasting numerous features that make it a lucrative addition to your portfolio.The upgraded units in this building command top dollar, with rents reaching up to $1, 200 per month. This means a potential annual income of around $140, 000 when all units are fully upgraded.Southwest Detroit is experiencing rapid appreciation, making this property an even more attractive investment. The neighboring $4.4BN Gordie Howe Bridge development is scheduled to complete next year. Its surrounding areas have seen significant development, making it an exciting time to invest in this community.Each unit in this building is individually metered, ensuring that tenants are responsible for their utility costs, simplifying property management for you and increasing your return on investment.Tenants will appreciate the convenience of air conditioning in every unit, enhancing their living experience and allowing you to command premium rents.Just a quick drive away, Downtown Detroit is less than 10 minutes from this property, offering residents access to employment centers, dining and entertainment options.
Nearby Michigan Central Station Development in CorktownWith its proximity to the nearly $1BN Michigan central station development in Corktown, this property is strategically positioned to benefit from ongoing urban revitalization and increased demand for housing in the area.This stabilized 10-unit building is a rare gem for savvy investors, combining attractive rental income potential with a prime location in a neighborhood poised for substantial growth. Don't miss out on this turn-key opportunity to secure significant cash flow and capitalize on the flourishing Southwest Detroit real estate market.Contact us today to schedule a viewing and seize this excellent investment befor it's gone!
Presented by Ishma Best at
Prep Realty.
Property MLS #24036263 from MichRic
Heating Features: Forced Air
Lot Size Square Feet: 7405
Association Amenities: Pets Allowed
Calculated Total Monthly Association Fees: 0
Map directions Map directions Map directionsSource Listing Status: Active
County: Wayne
Directions: Toledo Street and Campbell Street
Tax Year: 2023
Source Property Type: Multi-Family
Area: Wayne County - 100
MLS Area Minor: Wayne County - 100
Source Neighborhood: WALTER CRANE FARM (PLATS)
Owner Pays: Water
Parcel Number: 16000988.
Subdivision: WALTER CRANE FARM (PLATS)
Property Subtype: 5+ Units
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $unknown + $unknown $253,700 | $16,602 |
| 2021 | $unknown + $unknown $167,800 | $16,199 |
| 2020 | $unknown + $unknown $138,400 | $13,309 |
| 2019 | $unknown + $unknown $130,400 | $12,989 |
| 2018 | $unknown + $unknown $28,800 | $3,824 |
| 2017 | $unknown + $unknown $26,900 | $7,095 |
| 2016 | $unknown + $unknown $26,500 | $3,807 |
| 2015 | $unknown + $unknown $26,500 | $3,781 |
| 2014 | $unknown + $unknown $26,491 | $3,772 |
| 2013 | $unknown + $unknown $26,491 | $3,744 |
| 2012 | $unknown + $unknown $26,491 | $3,746 |
| 2011 | $unknown + $unknown $27,103 | $3,786 |
| 2010 | $unknown + $unknown $28,529 | $3,877 |
| 2009 | $unknown + $unknown $28,529 | $2,490 |
| 2008 | $unknown + $unknown $28,529 | $2,397 |
| 2007 | $unknown + $unknown $28,529 | $2,384 |
$829,900
MichRic
Listing removed 2024-06-01
$0
MichRic
Price Changed 2024-04-10
$829,000
MichRic
Listed 2024-01-09
$849,000
MichRic
Listing removed 2024-01-04
$0
Realcomp
Listed 2023-10-05
$849,000
Realcomp
Sold 2020-01-24
$450,000
Realcomp
Listing removed 2019-06-07
$0
AppfolioUnits
Listed for rent 2019-04-26
$495
AppfolioUnits
Listing removed 2019-01-24
$0
Realcomp
Listed for rent 2019-01-16
$650
Realcomp
Sold 2018-02-28
$271,500
Public Record
Listing removed 2017-12-04
$300,000
Realcomp
Listed 2017-11-06
$300,000
Realcomp
Listing removed 2017-10-16
$300,000
Realcomp
Listed 2017-07-19
$300,000
Realcomp
Sold 2016-11-17
$175,000
Public Record
Listing removed 2016-09-08
$275,000
Realcomp
Listed 2016-08-08
$275,000
Realcomp
Sold 2015-12-30
$175,000
Public Record
Listing removed 2015-10-27
$187,000
Realcomp
Listed 2015-09-28
$187,000
Realcomp
Construction Materials: Brick
Property Age: 101
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.