900 E Grand Boulevard Active Save Request In-Person Tour Request Virtual Tour
Detroit,MI 48207
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 20251047064
Year Built 1905
Annual Tax Amount $5,510
Lot Size 0.290 Acres
Property Description
5 Unit Apartment building!! 100% OccupiedExceptional income-producing opportunity in Detroit's revitalizing Islandview and West Village corridor. This fully occupied 5-unit multifamily building generates $62,400 in annual gross rental income. The property consists of four spacious 2-bedroom units, each approximately 1,200 square feet, and leased at $1,000 per month, along with one large 3-bedroom unit of 1,700 square feet leased at $1,200 per month. The landlord pays only for water, while tenants cover gas and electricity, keeping expenses low and returns strong.Current rents remain below market, providing a significant opportunity to increase income as the Detroit rental market continues to strengthen. With a cap rate of 8.3% and potential growth up to 10%, this property offers impressive performance and long-term upside. Situated in a vibrant neighborhood near Sonora Missionary Baptist Church, the Detroit Waldorf School, and the Butzel Family Recreation Center, it's ideally located for tenants seeking convenience and community.Call today to schedule your private tour and secure your next great investment.
Location
State MI
County Wayne
Area Wayne County - 100
Zoning Commercial,Multi-Family,R
Interior
Heating Forced Air
Cooling Window Unit(s)
Exterior
View Y/N No
Building
Lot Description Sidewalk
Water Public
Structure Type Brick,Vinyl Siding
Schools
School District Detroit
Others
Acceptable Financing Cash,Conventional,FHA,VA Loan
Listing Terms Cash,Conventional,FHA,VA Loan