5183 Pennsylvania St, Detroit, MI 48213

Property Description

Discover this beautifully updated four-family flat that blends classic Detroit characters with modern upgrades. Each unit has been thoughtfully renovated, featuring sleek contemporary kitchens, stainless steel appliances, updated bathrooms, and sun-drenched living spaces that feel like home. Appraised well over asking at $420,000 Monthly Gross Rent: $3,975 ($1,025 + $950 + $950 + $1,050) Water: $1,100/year Taxes: Under $1,000/year Maintenance: Estimated $1,000/year Current Net Operating Income (NOI): ~$44,900 Current CAP Rate: ~10.7% Each unit is separately metered, tenants pay their own gas and electric, and there's off-street parking, a shared backyard, and strong curb appeal that’s rare to find at this level of finish. Upside Potential? Rents are solid now but under the market for updated 2-bed units in the area. With strategic rent increases over time or short-term rental opportunities, your cash flow could go from good to great. Whether you're an investor looking to grow your portfolio or a savvy buyer ready to live in one unit and let the others pay the mortgage — this one checks every box.