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Christopher Parker

christopher.parker@exprealty.com +1(989) 812-6249

$1,200,000

Est. payment - /mo

5 Baths

7,000 SqFt

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UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 7,000 sqft

Price per Sqft $171

Subdivision Mi

MLS Listing ID 61020366

Style 2 Story

Full Baths 5

Year Built 1910

Annual Tax Amount $3,960

Lot Size 4,356 Sqft

Acres 0.1

Lot Dimensions 50X71.38

Property Sub-Type Multi-Family

Property Description

Rare opportunity to own a meticulously maintained four-unit multifamily property on Historic West Canfield in the heart of Midtown Detroit. Originally built in 1910, this beautifully preserved carriage house offers approximately 7,000 square feet and features four spacious two-bedroom apartments. Three of the four units include private in-unit laundry, while the fourth is served by a common laundry area. Also three of four units are occupied, generating income from day one. The property has benefited from extensive capital improvements, including a newer roof, gutters, tuckpointing, newer vinyl replacement windows, updated plumbing, separate gas and electric meters, and modern mechanical systems. A newly constructed secure fenced and gated parking lot provides approximately 10 off-street parking spaces--a rare amenity in Midtown. Current rents are below market, presenting an outstanding value-add opportunity for investors seeking immediate upside through future lease renewals. Ideally located just steps from Mad Nice, Selden Standard, SheWolf, Awake Cafe, Oak & Reel, Whole Foods Market, and the Detroit Institute of Arts, with convenient access to Wayne State University, Detroit Medical Center, Children's Hospital of Michigan, Henry Ford Health, the QLINE, I-75, I-94, and Downtown Detroit. A turnkey investment in one of Detroit's most desirable and walkable neighborhoods offering strong long-term appreciation potential. Do not miss out on this rare opportunity! 4230 3rd Street is included in the sale. This is the dedicated parking with 10 spaces that is supported by recorded easements and maintenance agreements, with documentation available upon request. Financial information, current rent roll and operating information available to qualified buyers upon request. Rental amounts reflected in the MLS are pro forma estimates only and are not representations of current or actual rental income. photos may be digitally enhanced, Information is deemed reliable, buyer to verify all information and data.

Location

State MI

County Wayne

Area Detroit (82001)

Zoning Multi-Family

Interior

Heating Forced Air

Fireplace No

Exterior

Exterior Feature Brick

Building

Story 2 Story

Foundation Slab

Water Public Water

Structure Type Brick

Schools

School District Detroit City School District

Others

Ownership Private

Energy Description Natural Gas

Financing Cash,Conventional,Exchange/Trade

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MiRealSource (MI RealSource (Lenawee /Saginaw/SE-Border/Gr Shiawassee/Upper Peninsula)

Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource.

Listed by S&P Realty

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Christopher Parker

+1(989) 812-6249

Broker Associate License ID: 164141; 6506049280

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681 W Canfield Street Detroit, MI 48201 1139

Christopher Parker

Key Details

Location

Interior

Exterior

Building

Schools

Others

Nearby Locations

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