Investment opportunity in the highly sought-after Boston-Edison Historic District, currently generating rental income with 2 of the 4 units occupied and 2 units vacant and ready for a new tenant or owner-occupant, giving a buyer the flexibility to step into a cash-flowing property while still having the option to move… Read More into one of the open units themselves. For buyers who prefer full occupancy before taking ownership, the vacant units can also be leased up prior to closing upon request. The property was previously rented at $4,200 per month when fully leased, with rent rolls available to support upon request. The current tenants have been in place for about a year and have consistently paid on time, and showings can be scheduled with just 24 to 48 hours' notice, making this one of the easier multi-unit properties to walk through compared to fully occupied buildings. This newly renovated property has been thoughtfully updated throughout, offering modern improvements while complementing the character of the surrounding historic neighborhood. Positioned in one of the most desirable and rapidly revitalizing areas of Detroit, the location provides convenient access to major employment centers and popular local attractions, including the iconic Motown Museum, Henry Ford Hospital, and the shops, dining, and entertainment along the Woodward Avenue corridor. Surrounded by beautiful historic architecture, tree-lined streets, and continued neighborhood investment, the area continues to attract strong tenant demand. With income history already established, room to add value by leasing up the vacant units, and a prime location in one of Detroit's most notable historic districts, this property presents a compelling opportunity for investors seeking cash flow, an owner-occupant looking to house hack, or anyone eyeing long-term appreciation in a historic neighborhood on the rise. Read Less
Provided through IDX through Realcomp II Ltd. Courtesy of NATOD Management, [email protected], (248) 609-7108.
Listing Snapshot
Days Online
4
Last Updated
Property Type
Multifamily
Square Ft.
3,538
Lot Size
0.14 Acres
Year Built
1924
MLS Number
20261065042
30 Days Snapshot Of 48206
$55k
-51%
(avg) sold price
12
-20%
homes sold
93
-1%
(avg) days on market
Snapshot
Area Map
Additional Details
Property Access
Paved
Basement
Unfinished, Basement?: 1
Building
4 total units, 2 leased units, 4 two-bedroom units, Built in 1924, Architectural style: Quadruplex, Brick, 3,538 total square feet, 3,538 combined square feet, 1,769 total basement square feet, Unit count: 4
Fireplaces
Fireplace?: 0
Foundation
Basement
Garage
Garage?: 0
Water Features
Public (Municipal)
Heating
Forced Air, Natural Gas
Lot
Lot size area: 0.14, Lot size dimensions: 52.5X120.5
Miscellaneous
Gross scheduled income: $50,400, Income projection: Actual, Monthly rental income: $4,200, Net operating income: $40,000
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