516 NEFF Lane LN, Grosse Pointe, MI 48230 - MLS#20261004006

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Jim Willis

jwillis@millerteamrealtors.com +1(810) 201-6924

$3,995,000

20 Baths

16,080 SqFt

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UPDATED:

Key Details

Property Type Multi-Family

Sub Type MultiFamily

Listing Status Active

Purchase Type For Rent

Square Footage 16,080 sqft

MLS Listing ID 20261004006

Style UpperLowerApartment

Full Baths 20

Year Built 1972

Lot Size 0.970 Acres

Acres 0.97

Property Sub-Type MultiFamily

Property Description

Exceptional opportunity to acquire a well-located 20-unit multifamily asset in the heart of Grosse Pointe, one of Metro Detroit's most desirable and supply-constrained rental markets. This stabilized community offers immediate cash flow with significant upside through continued rent growth and value-add execution.

The property features a strong unit mix with spacious floor plans, well-maintained interiors, and a history of high occupancy. Current ownership has completed substantial capital improvements in recent years, including renovations to a portion of the units, allowing a new owner to continue implementing a proven renovation and rent-increase strategy.

Situated in a premier residential setting near the waterfront, top-rated schools, retail, dining, and major employment corridors, the property benefits from consistent tenant demand and long-term market stability. Grosse Pointe's limited multifamily inventory and strong demographic profile create a compelling environment for sustained rental growth and asset appreciation.

With in-place income, professional management history, and clear value-add potential, this offering is ideal for investors seeking a stabilized asset with both immediate yield and long-term upside in a premier suburban market.

Location

State MI

County Wayne

Area Area05064Grossepointe

Rooms

Basement Full, Unfinished

Interior

Interior Features EntranceFoyer

Heating Forced Air, Natural Gas

Cooling Central Air

Fireplace No

Laundry LaundryRoom

Exterior

Exterior Feature Balcony, Lighting

Parking Features Assigned, Carport

Pool None

Utilities Available AboveGroundUtilities

View Y/N No

Roof Type Asphalt

Garage false

Building

Foundation Basement, Block

Sewer Public Sewer

Water Public

New Construction No

Schools

High Schools Grosse Pointe

School District Grosse Pointe

Others

Senior Community false

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Special Listing Condition ShortSaleNo, Standard

Pets Allowed Call

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Listed by Mackenzie Laforest of Pinnacle Plus Realty LLC

Nearby School & Business

SCHOOLS PROPERTIES

Elementary Schools 20

9

Lewis Marie Elementary School

Public | KG - 5
9

Richard Elementary School

Public | KG - 5
8

George Defer Elementary School

Public | KG - 5
8

Kerby Elementary School

Public | KG - 5
7

Robert Trombly Elementary School

Public | PK - 5
7

John Monteith Elementary School

Public | KG - 5
6

Detroit Merit Charter Academy

Public | KG - 8
5

Marquette Elementary-Middle School

Public | PK - 8
3

Marvin L. Winans Academy of Performing Arts Elementary School

Public | KG - 5
2

Carstens Elementary-Middle School

Public | PK - 8
1

Wayne Elementary School

Public | PK - 5
1

Ronald Brown Academy

Public | PK - 6
1

Carleton Elementary School

Public | PK - 5
1

J. E. Clark Preperatory Academy

Public | PK - 8
1

J. E. Clark Preparatory Academy

Public | PK - 8
1

Starr Detroit Academy

Public | KG - 6
1

Tyrone Elementary School

Public | 4 - 6
0

St Clare of Montefalco School

Private | PK - 8
0

Marquette Elementary-Middle School

Public | PK - 8
0

Giving Tree Montessori School

Private | PK - KG

Middle Schools 3

10

Brownell Middle School

Public | 6 - 8
8

Pierce Middle School

Public | 6 - 8
0

Wolverine Academy (Seventy-Day Adventist) - Lenox Site

Public | 6 - 12

High Schools 6

10

Grosse Pointe South High School

Public | 9 - 12
4

Davis Aerospace High School

Public | 9 - 12
3

Diann Banks-Williamson Educational Center

Public | 9 - 12
1

East English Village Preperatory Academy

Public | 9 - 12
0

Denby High School

Public | 9 - 12
0

East English Village Preparatory Academy

Public | 9 - 12

School and business data provided by Attom Data.

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Jim Willis

+1(810) 201-6924

Agent | Brerms:274322

Agent Brerms:274322

516 NEFF Lane LN Grosse Pointe, MI 48230

Jim Willis

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

Nearby School & Business

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