The same family has owned this lucrative 4-unit multifamily investment property since 1987; they have fully depreciated the asset and are ready to move on. During the past 37 years it has been professionally managed and often occupied by the owner and family members, and has been very well-maintained. Excellent location 2 doors from the Fairfax Market! New tear-off roof in 2017, new boiler in 2015 (new burners in 2020). All 4 units (1N/1S down, 2N/2S up) are identical floorplans w/ 2 bedrooms, 1 full bathroom each. Kitchens w/ refrigerator/freezer, stove/oven, garbage disposal, and adjacent wall to dining room have been cut out for a more open and modern feel. Hardwood floors, coved plaster ceilings, original doors / hardware / leaded glass windows are in great shape. Kitchens and baths have been updated while preserving the timeless bathroom terrazzo floors. Covered front porch w/ common entrances from front and rear of building. Each unit has front and back door. Upper units have shared access to a balcony, a great outdoor entertaining space. Rear staircase leads to a huge, unfinished third floor attic space, currently used for storage but with potential to be finished for additional living space. Unfinished basement w/ individual laundry hookups for each unit (current washers and dryers are tenant-owned), private storage rooms, large windows with lots of natural light. Concrete slab parking lot can accommodate 8 cars (4 wide x 2 deep). Individual gas water heaters for each unit. Current rent $1,000/month includes gas and water; tenant pays for electricity and cable/internet. Unit 1N includes dishwasher in kitchen. Approved by the Grosse Pointe Housing Foundation. Walk to Jefferson Ave and the new Schaap Center for the Performing Arts, West Park Kercheval and Charlevoix social districts. Owner/tenants are entitled to access Grosse Pointe Park’s two, resident-only lakefront parks: Windmill Pointe Park and Patterson Park. Learn more about at grossepointepark dot org. Easy access to I-94 and all of Metro Detroit.
