900 E Grand Blvd, Detroit, MI 48207
- $350,000
- 4,934
- SqFt
- Sold Price
- $350,000
- List Price
- $349,000
Property Description
Fully-occupied 5-unit apartment building producing $62,400/year in gross rental income. Consisting of four 2-bedroom units (1,200 SF each) leased at $1,000/mo and one 3-bedroom (1,700 SF) leased at $1,200/mo. Landlord pays water; tenants pay gas and electric. Rents remain below market, providing strong upside potential in Detroit’s revitalizing Islandview / West Village corridor. Highlights • 100% occupancy with stable tenants • Below market rent – significant upside • Cap rate 8.3% with growth potential to 10% • Landlord only pays water – low expense ratio • Proximity to Belle Isle, Jefferson Corridor, and Downtown Detroit • Updated interiors and long-term tenant stability
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Courtesy of Century 21 Curran & Oberski 3132747200
Selling Office: Match Realty.
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