Active
5807 Toledo Street
Detroit MI, 48209
$829,900
Active
Other
Built in 1923
Courtesy of Ishma Best, Prep Realty
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!
24036263
MLSⓇ ID
September 24, 2024
Listed
November 22, 2024
Updated
Map
5807 Toledo Street
Detroit MI, 48209
Interior Features
Fireplace
Yes
Cooling
Yes
Cooling Description
Central Air
Heating
Yes
Heating Description
Forced Air
Exterior/Building Features
Lot Size
0.17 Acres
Sewer
Public Sewer
School Information
School District
Detroit
Other Property Details
Area Name
Wayne County - 100
Taxes
$35,499
Tax Frequency
Annually
Days on Market
92
Association Fee
Not Listed
Association Amenities
Pets Allowed
Garage
No
Parking Total
0
View
No
County
Wayne
Pool
No
Courtesy of Prep Realty
The IDX display contains information sourced from the MichRIC® as of 11/22/2024. This data is intended solely for personal, non-commercial use and is not to be utilized for any other purposes except to identify potential properties for purchase. Although the MLS data displayed is typically considered reliable, it is not guaranteed to be accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and are advised to conduct their own investigations or seek professional assistance. Other sources besides the Listing Agent may have contributed to the MLS data presented. Unless expressly specified in writing, the Broker/Agent has not confirmed any information obtained from external sources. The Broker/Agent may or may not have acted as the Listing and/or Selling Agent and cannot guarantee the accuracy of property locations displayed on any map. Any compensation offers are solely made to participants of the MLS where the listing is registered.
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Data last updated 11/22/2024