UPDATED:
Key Details
Property Type Commercial
Sub Type RealEstateOnly
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
Year Built 1905
Property Sub-Type RealEstateOnly
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 Area05043Detlivernoisi756Gdriver
Interior
Heating ForcedAir, NaturalGas
Cooling WallWindowUnits
Exterior
Parking Features ParkingLot, OnSite
Fence Fenced, Perimeter
View Y/N No
Roof Type Asphalt
Garage false
Building
Foundation Basement, Block
Sewer PublicSewer
Water Public
New Construction No
Schools
School District Detroit
Others
Senior Community false
Acceptable Financing Cash, Conventional, Trade1031Exchange
Listing Terms Cash, Conventional, Trade1031Exchange
Special Listing Condition ShortSaleNo, Standard
