NOT LISTED FOR SALE
7 Beds
4 Baths
4,549 Sq Ft
1908 Built

Sale Details

Date Sold: May 31, 2024

Last sale price $550,000 $121 Per Sq Ft

42 Days on Market

Highlights

  • Property is near park
  • Lower Floor Utility Room
  • 2 Car Detached Garage
  • Greystone Architecture
  • Balcony
  • Enclosed Patio or Porch

About This Home

As of May 2024

In the heart of the storied Oakland community, nestled proudly overlooking the Boulevard, stands a majestic relic of the past, awaiting its renaissance. The ME Team brings you an exclusive insight into the magnificent Greystone at 4123 S Drexel Avenue, an architectural masterpiece waiting to be reborn. This three-unit Greystone, a testament to the grandeur of yesteryears, beckons investors, dreamers, and visionaries alike. With its stately gray stone facade casting an imposing silhouette against the skyline, this property is a timeless symbol of elegance and potential. What sets this property apart is not just its historical significance, but the myriad of opportunities it presents. In need of total rehabilitation, this blank canvas offers the chance to transform and revitalize, breathing new life into its 5260 square feet of living space. With four majestic fireplaces lending an air of opulence, and the possibility to duplex down, the potential for grandeur is limitless. Imagine the opportunity to offset your mortgage with the rental income from the other two units, or to craft a singular haven, a sprawling single-family mansion befitting of royalty. The choice is yours, limited only by the bounds of your imagination. Venturing below, discover an additional unit awaiting transformation in the lower level, offering even more potential for expansion or rental income. And with the property boasting both forced air and a boiler system, modern amenities can seamlessly meld with the historic charm, ensuring comfort and efficiency for generations to come. But perhaps the most compelling aspect of this property lies not just in its bricks and mortar, but in its enviable location. Oakland, a community steeped in history and culture, offers more than just a place to live - it offers the promise of generational wealth. In the equation of Location + Land, the sum is far greater than its parts, promising a legacy that transcends time.

Last Agent to Sell the Property

Sybil Martin

Coldwell Banker Realty License #471008659 Listed on: 02/29/2024

Coldwell Banker Realty

Co-Listed By

Paulette Edwards

Coldwell Banker Realty License #471011238

Last Buyer's Agent

Tamika Marks

Trademarks & Associates License #471006293

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $4,326

Year Built

  • Built in 1908

Parking

  • 2 Car Detached Garage
  • No Garage
  • Parking Included in Price

Home Design

  • Greystone Architecture
  • Asphalt Roof
  • Rubber Roof
  • Stone Siding
  • Concrete Perimeter Foundation

Interior Spaces

  • Entrance Foyer
  • Lower Floor Utility Room

Bedrooms and Bathrooms

  • 7 Bedrooms
  • 7 Potential Bedrooms
  • 4 Bathrooms

Partially Finished Basement

  • English Basement
  • Basement Fills Entire Space Under The House
  • Exterior Basement Entry
  • Rough-In Basement Bathroom

Outdoor Features

  • Balcony
  • Enclosed Patio or Porch

Lot Details

  • Partially Fenced Property
  • Paved or Partially Paved Lot

Location

  • Property is near park

Utilities

  • Forced Air Heating System
  • Radiator
  • Heating System Uses Natural Gas
  • Individual Controls for Heating
  • Heating System Uses Steam
  • Lake Michigan Water

Listing and Financial Details

  • Senior Tax Exemptions

Community Details

Overview

  • 3 Units
  • 3 Unit Multi Family

Amenities

  • Common Area

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$4,326

Year Built

Built in 1908

Parking

2

Listing Details

  • Property Type: Residential Income
  • Property Type: Two to Four Units
  • Ownership: Fee Simple
  • ArchitecturalStyle: Greystone
  • New Construction: No
  • Year Built: 1908
  • Age: 100+ Years
  • Built Before 1978 (Y/N): Yes
  • General Information: School Bus Service,Commuter Bus,Commuter Train,Interstate Access
  • Rebuilt (Y/N): No
  • Rehab (Y/N): No
  • Actual Status: Closed
  • ResoPropertyType: ResidentialIncome
  • SomePhotosVirtuallyStaged: No
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: Full, English
  • Total Bathrooms: 4
  • Total Bedrooms: 7
  • Room Type: Enclosed Porch, Foyer, Utility Room-2nd Floor, Utility Room-Lower Level
  • Basement Description: Partially Finished,Exterior Access,Bathroom Rough-In
  • Basement Bathrooms: No
  • Below Grade Bedrooms: 0

Exterior Features

  • ExteriorFeatures: Balcony, Porch
  • Foundation Details: Concrete Perimeter
  • Lot Features: Common Grounds, Partial Fencing, Sidewalks, Streetlights
  • Roof: Asphalt, Rubber
  • Waterfront: No
  • Exterior Building Type: Stone

Garage/Parking

  • Garage Spaces: 2
  • ParkingTotal: 2
  • Garage Details: None/NA
  • Garage On-Site: Yes
  • Garage Ownership: Owned
  • Garage Type: Detached
  • Parking: Garage

Utilities

  • Sewer: Public Sewer
  • Heating: Natural Gas, Electric, Forced Air, Steam, Radiator(s), Indv Controls
  • Water Source: Lake Michigan, Public

Condo/Co-op/Association

  • Community Features: Park, Curbs, Sidewalks, Street Lights, Street Paved
  • Conversion YN: N

Lot Info

  • Additional Parcels: No
  • Lot Dimensions: 5764
  • Lot Size: .25-.49 Acre
  • Special Assessments: N

Rental Info

  • Board Number: 8
  • Is Parking Included in Price: Yes

Tax Info

  • Tax Annual Amount: 4326.27
  • Tax Year: 2022
  • Tax Exemptions: Senior

Multi Family

  • Units in Building: 3
  • Three Bedroom Number of Units: Yes
  • Type-Multi: 3 Flat
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
05/31/2024 05/31/24 Sold $550,000 +10.2% $121 / Sq Ft
04/12/2024 04/12/24 Pending -- -- --
03/29/2024 03/29/24 For Sale $499,000 0.0% $110 / Sq Ft
03/19/2024 03/19/24 Pending -- -- --
02/29/2024 02/29/24 For Sale $499,000 -- $110 / Sq Ft
Source: Midwest Real Estate Data (MRED)

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 $8,256 $56,000 $20,174 $35,826
2024 $8,256 $56,000 $20,174 $35,826
2023 $8,047 $39,000 $20,174 $18,826
2022 $8,047 $39,000 $20,174 $18,826
2021 $7,866 $39,000 $20,174 $18,826
2020 $6,167 $27,684 $9,798 $17,886
2019 $6,321 $31,460 $9,798 $21,662
2018 $6,214 $31,460 $9,798 $21,662
2017 $6,006 $27,900 $8,069 $19,831
2016 $5,588 $27,900 $8,069 $19,831
2015 $5,113 $27,900 $8,069 $19,831
2014 $3,731 $20,108 $6,916 $13,192
2013 $3,657 $20,108 $6,916 $13,192
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 11993102

Midwest Real Estate Data (MRED)

APN: 20021130080000

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