Mid-Mitten Realty
5807 Toledo Street Active Save Request In-Person Tour Request Virtual Tour
Detroit,MI 48209-1324
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 12,964 sqft
Price per Sqft $59
Subdivision Mi
MLS Listing ID 25008017
Year Built 1923
Annual Tax Amount $15,946
Tax Year 2024
Lot Size 7,405 Sqft
Acres 0.17
Lot Dimensions 60 x 123
Property Sub-Type Multi-Family
Property Description
Welcome to your next investment opportunity in the heart of Southwest Detroit! This property is 90% occupied. There are no showings without an accepted offer. 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.
Location
State MI
County Wayne
Area Detroit (82001)
Zoning Multi-Family
Rooms
Basement MI Basement
Interior
Heating Forced Air
Exterior
Exterior Feature Brick
Amenities Available Laundry Facility
Building
Foundation Basement
Water Public Water
Structure Type Brick
Schools
School District Detroit City School District
Others
Energy Description Natural Gas
Financing Cash,Conventional