$829,900 Price Analysis 5807 Toledo StDetroit, 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 |
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 ths 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 before it's gone!
Presented by Ishma Best at
Prep Realty.
Property MLS #24036263 from MichRic
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 |
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.