$550,000
$50K PRICE DROP

Estimated payment $2,942/month

Total Views 4,207
9 Beds
5 Baths
5,352 Sq Ft
$103 Price per Sq Ft

Highlights

  • Lobby
  • Forced Air Heating System
  • 2 Car Garage
  • Cass Technical High School Rated 10

About This Home

Fully updated and income-producing 5-unit apartment building, offering a strong opportunity for investors. Each unit is currently occupied by reliable tenants, all of whom have been in place for approximately three years and wish to stay. All leases are month-to-month, leaving flexibility for the new owner. Recent upgrades include energy-efficient appliances, a new furnace, and a new hot water tank. No major repairs are needed. Approximately 15 years remain on the tax abatement. Located near expressways, just 15 minutes from downtown Detroit and 20 minutes from Detroit Metro Airport. Great 8.5% cap rate in an up-and-coming Detroit neighborhood.

Listing Agent

Chad Apap

EXP Z Real Estate License #6501429996 Listed on: 07/25/2025

EXP Z Real Estate

Co-Listing Agent

Demontay Scott

EXP Z Real Estate License #6501457884

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

Year Built

  • Built in 1927 | Remodeled in 2020

Lot Details

  • 7,405 Sq Ft Lot
  • Lot Dimensions are 57.6x117.78

Parking

  • 2 Car Garage

Home Design

  • Brick Exterior Construction
  • Block Foundation

Interior Spaces

  • 5 Full Bathrooms
  • 5,352 Sq Ft Home
  • 2-Story Property
  • Unfinished Basement

Utilities

  • Forced Air Heating System
  • Heating System Uses Natural Gas

Listing and Financial Details

  • Assessor Parcel Number 08010056

Community Details

Overview

  • 5 Units
  • Nagels Golf Club Subdivision

Amenities

  • Lobby

Pet Policy

  • Call for details about the types of pets allowed

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$134

Year Built

Built in 1927 | Remodeled in 2020

Lot Details

0

Listing Details

  • Property Type: Multifamily
  • Architecture Style: Common Entry Building
  • Architecture Level: 2 Story
  • Year Built: 1927
  • State Equalized Value: 800.0000
  • Year Renovated: 2020
  • Pets Allowed: Call
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 2

Interior Features

  • Total Bathrooms: 5.00
  • Full Bathrooms: 5
  • Basement: Yes
  • Basement Type: Unfinished
  • Sq Ft Combined: 7996
  • Sq Ft Lower Floor: 2644
  • Total Sq Ft: 5352
  • Sq Ft Total Bsmt: 2644

Exterior Features

  • Foundation Details: Basement
  • Construction Materials: Brick
  • Foundation Materials: Block
  • Frontage Feet: 58
  • Road Frontage Type: Paved

Garage/Parking

  • Garage: Yes
  • MF Parking: Garage
  • Total Parking Spaces: 2

Utilities

  • Heating Fuel: Natural Gas
  • Heating: Forced Air
  • Sewer: Sewer (Sewer-Sanitary)
  • Water Source: Public (Municipal)

Schools

  • School District: Detroit

Lot Info

  • Lot Size Area: 0.17
  • Lot Dimensions: 57.6X117.78
  • Parcel Number: 08010056
  • Zoning: Multi-Family

Rental Info

  • Monthly Rental Income: 5400

Tax Info

  • Tax Amount Summer: 60.0000
  • Tax Amount Winter: 74.0000
  • Total Tax: 134.0000
  • Taxable Value: 800.0000

Multi Family

  • Gross Scheduled Income: 50400.00
  • Number Of Units Total: 5
  • Number of One Bedroom Units: 1
  • Number of Two Bedroom Units: 4
  • Number Of Units Leased: 5

MLS Schools

  • School District: Detroit

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $60 $115,500 $0 $0
2024 $60 $800 $0 $0
2023 $59 $800 $0 $0
2022 $64 $800 $0 $0
2021 $62 $800 $0 $0
2020 $62 $700 $0 $0
2019 $62 $700 $0 $0
2018 $54 $700 $0 $0
2017 $13 $700 $0 $0
2016 $2,039 $38,200 $0 $0
2015 $2,231 $22,500 $0 $0
2013 $2,161 $36,000 $0 $0
2010 -- $20,206 $1,604 $18,602
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
09/03/2025 09/03/25 Price Changed $550,000 -5.3% $103 / Sq Ft
08/08/2025 08/08/25 Price Changed $581,000 -3.2% $109 / Sq Ft
07/25/2025 07/25/25 For Sale $599,900 +4343.7% $112 / Sq Ft
01/21/2014 01/21/14 Sold $13,500 +22.7% $3 / Sq Ft
01/02/2014 01/02/14 Pending -- -- --
10/17/2013 10/17/13 For Sale $11,000 -- $2 / Sq Ft
Source: Realcomp

Purchase History

Date Type Sale Price Title Company
Interfamily Deed Transfer -- None Available
Warranty Deed $40,000 Nations Title Agency
Quit Claim Deed -- None Available
Deed $13,500 Commercial Title Services
Warranty Deed -- None Available
Quit Claim Deed -- None Available
Corporate Deed -- None Available
Sheriffs Deed $126,729 None Available
Warranty Deed $115,000 Metropolitan Title Company
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $185,000 Construction
Source: Public Records

Source: Realcomp

MLS Number: 20251015492

Realcomp

APN: 08-010056