Residential Income in Detroit

$299,900

1565 Grand, 48208, Detroit, MI

Residential Income for sale in Detroit, 1565 Grand, 48208, 3640 m²

1565 Grand, 48208, Detroit, MI

$299,900

4Bath
3640m²
Type: Residential Income

Description

Solid brick quadplex producing income on West Grand Boulevard. Four 2-bedroom, 1-bath units over a full basement. Three units are leased with tenants in place and the fourth is vacant, so a new owner sets that rent at today's market - the clearest upside in the building. Rents today total $2, 050/mo. With all four units at the projected market rent of $850/unit ($3, 400/mo), the projected cap rate is approx 7.2% (est. after actual taxes of $6, 283/yr, 10% vacancy, 10% management, insurance and reserves; buyer to verify). Mechanicals have been updated: newer furnaces, updated electrical boxes and PEX plumbing throughout. Photos are recent and reflect current condition. A complete investment analysis is attached to the listing documents alongside the disclosures - rent, actual taxes, insurance, management and net income on one page - so this property can be evaluated properly before writing. Tenant parking on the street in front or behind the building. Shown upon accepted offer only; please do not disturb tenants. Leases and ledgers provided during the inspection period. Cash, Conventional, FHA or VA only - no alternative financing.

Agent Information

Location

1565 Grand, 48208, Detroit, MI

Data

Object TypeResidential Income
Purchase Price$299,900
Living Space3640 m²
Plot Size485.62 m²
Bathrooms4
Construction Year1912
ConditionNot specified
RoomsN/A

Energy Information

Heating TypeForced Air, Natural Gas
Primary Energy SourceN/A
Construction Year1912
Energy CertificateN/A
Final Energy DemandN/A
Certificate Valid UntilN/A
Energy Efficiency ClassN/A

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