UPDATED:
Key Details
Property Type Multi-Family
Sub Type MultiFamily
Listing Status Active
Purchase Type For Sale
Square Footage 2,556 sqft
Price per Sqft $100
Subdivision Waterworks (Plats)
MLS Listing ID 20261050840
Style Duplex
Full Baths 2
Year Built 1907
Lot Size 3,920 Sqft
Acres 0.09
Property Sub-Type MultiFamily
Property Description
Prime investment structure: two-unit duplex (multi-family zoning) with 3-bedroom units—ideal for long-term rental demand and simple portfolio scaling.
Fully occupied with tenant possession and existing leases in place, delivering immediate cash flow from day one; rent reportedly includes sewer and water.
Favorable operating footprint: 33 x 115 lot, paved road frontage, on-street parking and public utilities (water/sewer/cable available), simplifying management and lowering capital surprises.
Solid building fundamentals: built 1907 with poured full basement (approx. 1,045 sq ft) and updated systems possible to prioritize for value-add; duplex layout and two-story configuration support unit-level renovations and rent bumps.
Complete renovation 2024 inside and out. Updated plumbing, electrical with new service pannels, HVAC with new furnances, all seperate utilities except one water meter that the tenants split the bill. New windows, roof & exterior siding, new decking and patios.
Financial edge for buyers: lower listing price (seller motivated to move to larger multifamily) creates opportunity for immediate equity and accelerated returns through modest rent increases, expense optimization, or unit upgrades. Compare to comparables in the $300,000+ range.
Quick due-diligence wins: clear public records (property ID W1910048775S) and mapped location in Detroit (zip 48206) enable fast underwriting and neighborhood comparables.
Financing and exit: Detroit investor-friendly loan products exist for small multifamily; current 30-year fixed quotes near 7% for approved credit may apply—shop multiple lenders for best leverage to boost cash-on-cash returns.
Location
State MI
County Wayne
Area Area05066Detmcclellaneastmacktoshore
Rooms
Basement Unfinished
Interior
Heating Forced Air, Natural Gas
Fireplace No
Exterior
Parking Features OnStreet
Pool None
Community Features Sidewalks
Utilities Available AboveGroundUtilities, CableAvailable
View Y/N No
Roof Type Asphalt
Garage false
Building
Foundation Basement, Poured
Sewer Public Sewer
Water Public
New Construction No
Schools
School District Detroit
Others
Senior Community false
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition ShortSaleNo, Standard
Pets Allowed No
Nearby Locations
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