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About the Listing 98866 - 745771
Incredible Investment Opportunity – Perfect for Elder Care or Student Housing! Welcome to your next high-return investment in the heart of Downtown Detroit! This beautifully renovated three-story historic home offers a unique opportunity to generate significant rental income, whether you're seeking to establish an elder care facility or take advantage of demand for off-campus housing near Wayne State University. Boasting Approximately 3,600 sq ft of meticulously restored living space, this residence features custom finishes throughout, from extended, built-in cabinetry to original early-1900s Detroit tilework in the bathrooms. Each spacious bedroom offers the potential to generate $2,000–$3,000 per month in rent, creating a projected gross income of over $10,000/month when fully occupied. The property's layout is ideal for shared living, with multiple bathrooms, generous common areas, and a third-floor suite perfect for staff quarters or a premium rental unit. The home also includes a full basement that can be divided into individual storage units for each resident, adding valuable utility and convenience. With two kitchen areas, residents can enjoy greater flexibility and comfort in meal preparation. Stairs can be easily outfitted with stairlifts, making the property more accessible for elderly residents. Additionally, a privacy fence can be installed around the perimeter to create a safe and enclosed environment for all occupants. The exterior is just as impressive, with period-accurate paint from the 1901 East Village catalogue adding charm and curb appeal. Located in a high-demand area with walkable access to restaurants, entertainment, and major institutions, this property is a rare chance to capitalize on Detroit's growing need for elder care housing or student accommodations. Don't miss this opportunity to turn a piece of Detroit's architectural legacy into a thriving income generating business!
Listing Highlights for 1583 Cadillac
Status
Active
Days on Site
23
Property Type
Multi-Family
MLS ®
60930310
Year Built
1914
Total Square Footage
3,600
Lot/Acreage
0.1
County
Wayne
Neighborhood
Brandons
Area
Detroit (82001)
School District
Detroit City School District
Interior Details
- Bedrooms: 0
- Bathrooms: 3 Full / 1 Half
- Appliances:
- Air Cond:
- Heating: Forced Air
- Fireplaces:
- Floor:
- Above Ground Sq Ft: 3600
- Below Ground Sq Ft: n/a
- Basement: Poured
- Other:
- Water: Public Water
Exterior Details
- Garage Capacity: N/A
- Lot Dimensions: 35X125
- Zoning: Residential
- Roof:
- Others:
- Sewer:
Financial Details
- Tax Amount: $1,493
- Taxes w/Assessments: N/A
- Tax/Property ID: N/A
- Tax Year: N/A
Payment Calculator
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Listing Location
Questions About..
1583 Cadillac Detroit, MI 48214
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