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5 Beds
4,934 SqFt
5 Beds
4,934 SqFt
Key Details
Property Type Commercial
Sub Type Apartments,Real Estate Only
Listing Status Active
Purchase Type For Sale
Square Footage 4,934 sqft
Price per Sqft $99
Subdivision Assessors Of Lts 1 To 65 Incl Pt 66 Etc
MLS Listing ID 20251047515
Bedrooms 5
Year Built 1905
Annual Tax Amount $5,510
Lot Size 0.300 Acres
Acres 0.3
Lot Dimensions 93.00X134.00
Property Sub-Type Apartments,Real Estate Only
Source Realcomp II Ltd
Property Description
four 2-bedroom units (1,200 SF each) leased at $1,000/mo and one 3-bedroom (1,700 SF) leased at
$1,200/mo. Landlord pays water; tenants pay gas and electric. Rents remain below market, providing
strong upside potential in Detroit's revitalizing Islandview / West Village corridor.
Highlights
• 100% occupancy with stable tenants
• Below market rent – significant upside
• Cap rate 8.3% with growth potential to 10%
• Landlord only pays water – low expense ratio
• Proximity to Belle Isle, Jefferson Corridor, and Downtown Detroit
• Updated interiors and long-term tenant stability
Location
State MI
County Wayne
Area Det: Livernois-I75 6-Gd River
Zoning Commercial,Multi-Family,Residential
Direction Continue on M-3/Gratiot Ave. Take Mack Ave to E Grand Blvd
Interior
Hot Water Natural Gas
Heating Forced Air
Heat Source Natural Gas
Exterior
Exterior Feature Fenced
Utilities Available 220V Available, Carbon Monoxide Alarm(s), Smoke Alarm, Programmable Thermostat
Roof Type Asphalt
Road Frontage Paved
Building
Foundation Basement
Sewer Sewer (Sewer-Sanitary)
Water Public (Municipal)
Level or Stories 3 Story
Structure Type Vinyl
Schools
School District Detroit
Others
Tax ID 15007626
Ownership Short Sale - No,Private Owned
Acceptable Financing Cash, Conventional, Trade/Exchange
Rebuilt Year 2023
Listing Terms Cash, Conventional, Trade/Exchange
Financing Cash,Conventional,Trade/Exchange
Special Listing Condition Full Service
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