5807 Toledo Street, Detroit, MI 48209

$829,000
List Price
$829,000
Price Change
▼ $20,000 1712783897
Days on Market
120
MLS#
24002320
Status
ACTIVE
Type
Multifamily
Neighborhood
Wayne County - 100

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!

Additional Information

Owner Pays
Trash Collection, Water
Taxes
$16,602
Acres
0.17
Association Amenities
Pets Allowed
Basement
Michigan Basement
Heating
Forced Air, Natural Gas
School District
Detroit
Sewer
Public Sewer
Tenant Pays
Electric, Gas
Utilities
Public Water Available, Natural Gas Connected

Mortgage Calculator

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Calculator source: Real Geeks

Listing courtesy of Listing Agent: Ishma D Best (ishma@prepsold.com) from Listing Office: Prep Realty.

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