$ 3,995,000
-
$3,995,000
Price -
0
Bed -
20
Bath -
16,080
SqFt
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About the Listing 105648 - 679853
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.
Listing Highlights
Status
Active
Days on Site
12
Property Type
Multi-Family
MLS ®
60964783
Year Built
1972
Total Square Footage
16,080
Lot/Acreage
0.97
Interior Details
- Bedrooms: 0
- Bathrooms: 20 Full
- Appliances:
- Air Cond: Central A/C
- Heating: Forced Air
- Fireplaces:
- Floor:
- Above Ground Sq Ft: 16080
- Below Ground Sq Ft: n/a
- Basement: Block,Egress/Daylight Windows
- Other:
- Water: Public Water
Exterior Details
- Garage Capacity: N/A
- Lot Dimensions: 114.20 x 437.00
- Zoning: Multi-Family
- Roof:
- Others: Exterior Balcony
- Sewer:
Financial Details
- Tax Amount: $44,052
- Taxes w/Assessments: N/A
- Tax/Property ID: N/A
- Tax Year: N/A
Payment Calculator
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Questions About..
516 Neff Ln Grosse Pointe, MI 48230
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