UPDATED:
Key Details
Property Type Multi-Family
Sub Type Colonial
Listing Status Active
Purchase Type For Sale
Square Footage 19,557 sqft
Price per Sqft $127
Subdivision Emerson Park (Plats)
MLS Listing ID 20250033930
Style Colonial
Bedrooms 31
Full Baths 40
Year Built 1969
Annual Tax Amount $48,402
Lot Size 0.890 Acres
Acres 0.89
Lot Dimensions 387x100
Property Sub-Type Colonial
Source Realcomp II Ltd
Property Description
Fully remodeled 40-unit multifamily asset ideally located in the heart of Detroit, just minutes from major shopping districts and directly adjacent to the highly sought-after Dearborn Heights community. This property has undergone a full transformation—modernized units, updated mechanicals, and refreshed common areas—making it a truly turnkey opportunity. With projected annual revenue of approximately $480,000, this property offers investors a potential 12–14% cap rate upon stabilization. Lightly occupied post-renovation with strong tenant interest already in motion. Seller is ready to hand off this high-yield investment to a new owner ready to capitalize on rising demand and long-term wealth creation through lease-up and management.
Location
State MI
County Wayne
Area Det: Joy-Schoolcraft Grnfld-Limi
Zoning Commercial,Multi-Family
Direction head north on Southfield highway and north on weaver st
Interior
Interior Features Utility Smart Meter
Heating Space Heater
Fireplace no
Heat Source Electric
Exterior
Garage Spaces 50.0
Road Frontage Paved
Garage no
Building
Foundation Slab
Sewer Public Sewer (Sewer-Sanitary), Sewer at Street
Water Community, Water at Street
Architectural Style Colonial
Level or Stories 3 Story
Structure Type Brick,Brick Veneer
Schools
School District Detroit
Others
Pets Allowed Yes
Tax ID W22I068255C61
Ownership Short Sale - No,Private Owned
Assessment Amount $100
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing Cash,Conventional
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