Welcome to your next investment opportunity in the heart of Southwest Detroit! 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 this community.Each unit in this building is individually metered. 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!
Property Details
Price:
$799,000
MLS #:
24036263
Status:
Active
Beds:
0
Baths:
0
Address:
5807 Toledo Street
Type:
Single Family
Subtype:
5+ Units
Subdivision:
WALTER CRANE FARM PLATS
City:
Detroit
Listed Date:
Dec 16, 2024
State:
MI
ZIP:
48209
Lot Size:
7,405 sqft / 0.17 acres (approx)
Year Built:
1923
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Schools
School District:
Detroit
Interior
Cooling
Central Air
Fireplaces Total
1
Heating
Forced Air
Exterior
Construction Materials
Brick
Financial
Tax Year
2023
Taxes
$35,499
Map
Community
- Address5807 Toledo Street Detroit MI
- SubdivisionWALTER CRANE FARM (PLATS)
- CityDetroit
- CountyWayne
- Zip Code48209
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5807 Toledo Street
Detroit, MI
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