Homes for sale - 5807 Toledo Street, Detroit, MI 48209

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$ 829,900

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5807 Toledo Street Detroit, MI 48209

2 Beds

7,405 Sqft Lot

UPDATED:

10/23/2024 06:53 PM

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Subdivision Walter Crane Farm (Plats)

MLS Listing ID 81024036263

Bedrooms 2

Originating Board Greater Metropolitan Association of REALTORS®

Year Built 1923

Annual Tax Amount $35,499

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!

Location

State MI

County Wayne

Area Det South Of Grand River

Zoning Other

Direction Toledo Street and Campbell Street

Interior

Interior Features Laundry Facility

Heating Forced Air

Cooling Central Air

Fireplace no

Heat Source Natural Gas

Laundry 1

Exterior

Waterfront no

Road Frontage Paved

Garage no

Building

Foundation Michigan Basement

Sewer Public Sewer (Sewer-Sanitary)

Water Public (Municipal), Water at Street

Structure Type Brick

Schools

School District Detroit

Others

Pets Allowed Yes

Tax ID 16000988

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Financing Cash,Conventional

Listed by Ishma Best of Prep Realty

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5807 Toledo Street Detroit, MI 48209

Key Details

Location

Interior

Exterior

Building

Schools

Others

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5807 Toledo Street