Originating MLS: RealComp| MLS # 60261231 | Listed by PREP Realty|313-279-7328 5807 Toledo Street is a $849,000, 12,964 square foot, 10.0 bath home on a 0.17 acre lot located in Detroit, MI.
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 Corktown With 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!
| Basement | Common Foundation Type - Basement |
| Cooling Types | Central A/C |
| Heating Types | Heat/Fuel Type - Natural Gas Forced Air |
| Exterior Features | Assessments - Yes Association/Community Amenities - Laundry Facility Roads - Paved Street |
| Construction Types | Brick |
| Land Type | Zoning - Multi-Family |
| Water Source | Public Water |
| Sewer | Public Sanitary |
| Property Type | Income |
| Property Sub Type | Multi-Family |
| Style Characteristics | For Sale |
| Style | Subtype - Lease - Yes |
| Architectural Style | 2 Story |
| Year Built | 1923 |
| Taxes | $16,602.00 |
| County | wayne |
| School District | detroit city school district |
| Neighborhood | Walter Crane Farm (Plats) |
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Provided through IDX via MiRealSource, as the "Source MLS", courtesy of the Orgininating MLS shown on the property listing, and the Originating MLS.
The information published and dissemenated by the Origninating MLS is communitated verbatim, without changes by the Originiating MLS, as filed by its members. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. Copyright 2023 MiRealSource. All rights reserved. The information provided hereby constitutes proprietary information of MiRealSource, Inc. and its shareholders affiliates and licenses and may not be reproduced or transmitted in any form or by any means, electronic, mechanical, including photocopy, recording, scanning, or any information storage and retreival system, without written permission from MiRealSource, Inc.
