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5807 Toledo Street

Detroit, MI 48209
  • $849,000
  • STATUS: Active Under Contract
  • ON SITE: 49 Days
  • MLS #: 24002320
Under Contract
UPDATED: 168 min ago
$849,000
  • 4
    BEDS
  • 0.17
    ACRES
  • 2
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1923
County:

School Ratings & Info

School District:

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, ensuring that tenants are responsible 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!

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© 2024 MichRIC, LLC. All rights reserved. Information deemed reliable but not guaranteed. Updated: 2024-02-27T22:56:14.45.
www.mulderteam.com/homes/146496132
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5807 Toledo Street Detroit, MI 48209

  • Price: $849,000
  • Status: Active Under Contract
  • On Site: 49 Days
  • Updated: 168 min ago
  • MLS #: 24002320
4
Beds
2
Baths
0
½ Baths
0.17
Acres
1923
Built
Neighborhood:
Detroit City
County:
Wayne
School District:
Detroit
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, ensuring that tenants are responsible 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!
Exterior Features

Construction Materials Brick Parking Total 0 Road Surface Type Paved Waterfront YN No

Interior Features

Basement Michigan Basement Basement YN Yes Cooling Central Air Cooling YN Yes Heating Forced AirNatural Gas Heating YN Yes

Property Features

Association Amenities Pets Allowed Association YN Yes Auction Or For Sale For Sale Cross Street Campbell Street Documents Available [] Gross Income 103330 Listing Terms CashConventional New Construction YN No Owner Pays Trash CollectionWater Property Sub Type 5+ Units Sewer Public Sewer Tax Annual Amount 16602 Tax Year 2023 Tenant Pays ElectricGas Utilities Public Water AvailableNatural Gas Connected Zoning Multi-Family

Listing provided courtesy of Ishma Best of Prep Realty: 313-355-3004. © 2024 MichRIC, LLC. All rights reserved. Information deemed reliable but not guaranteed.
© 2024 MichRIC, LLC. All rights reserved. Information deemed reliable but not guaranteed. Updated: 2024-02-27T22:56:14.45.
 
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