$ 829,900
5807 Toledo Street Detroit, MI 48209
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$ 829,900
Est. payment | /mo
7,405 Sqft Lot
$ 829,900
Est. payment | /mo
7,405 Sqft Lot
Key Details
Property Type Multi-Family
Sub Type 5+ Units
Listing Status Active
Purchase Type For Sale
Municipality Detroit City
Subdivision Walter Crane Farm (Plats)
MLS Listing ID 24036263
HOA Y/N true
Year Built 1923
Annual Tax Amount $35,499
Tax Year 2023
Lot Size 7,405 Sqft
Acres 0.17
Lot Dimensions 60 x 123
Property Description
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! 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!
Location
State MI
County Wayne
Area Wayne County - 100
Direction Toledo Street and Campbell Street
Rooms
Basement Michigan Basement
Interior
Heating Forced Air
Cooling Central Air
Fireplaces Number 1
Exterior
Utilities Available Natural Gas Connected, Water Available
Amenities Available Pets Allowed
Waterfront No
View Y/N No
Street Surface Paved
Building
Sewer Public Sewer
Structure Type Brick
New Construction No
Schools
School District Detroit
Others
Tax ID 16000988.
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Listed by Prep Realty