Excellent Investment Opportunity in Detroit's Virginia Park District! This is an exceptional income-producing multi-family property located in the historic Virginia Park district of Detroit. This two-story building offers seven rentable units in a variety of layouts including three bedroom, two-bedroom, one-bedroom, and studio apartments ideal for maximizing occupancy and rental… Read More income.Many units feature modern updates such as new flooring, countertops, and appliances, while an on-site laundry facility adds extra convenience for tenants. Situated in the Virginia Park Historic District (listed on the National Register of Historic Places in 1982), this property enjoys a prime location near Woodward Avenue and the Q-Line, providing easy access to New Center, Midtown, and downtown Detroit. Whether you're an experienced investor or just entering the Detroit market, this property offers the perfect blend of historic charm, steady income potential, and unbeatable location!New Detroit PILOT program available for an immediate value add opportunity to substantially reduce property taxes! Inquire for more info! Read Less
Provided through IDX through Realcomp II Ltd. Courtesy of Jim Saros Real Estate Services, [email protected], (313) 886-9030.
Listing Snapshot
Days Online
327
Last Updated
Property Type
Multifamily
Square Ft.
5,150
Lot Size
0.19 Acres
Year Built
1911
MLS Number
20251044444
30 Days Snapshot Of 48202
$203k
+8%
(avg) sold price
13
-18%
homes sold
68
-1%
(avg) days on market
Snapshot
Area Map
Additional Details
Property Access
Paved
Basement
Partially Finished, Basement?: 1
Building
7 total units, 5 leased units, 1 efficiency unit, 3 one-bedroom units, 2 two-bedroom units, Built in 1911, Architectural style: Colonial, Historic, Brick, 5,150 total square feet, 6,787 combined square feet, 1,637 lower floor square feet, 1,637 total basement square feet, Unit count: 7
Fireplaces
Fireplace?: 0
Foundation
Basement
Garage
Garage?: 0
Water Features
Public (Municipal)
Heating
Hot Water, Natural Gas
Lot
Lot size area: 0.19, Lot size dimensions: 50X163
Miscellaneous
Gross scheduled income: $72,300, Income projection: Projected, Monthly rental income: $6,025, Net operating income: $38,016
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