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About the Listing 106345 - RC042081
Turnkey, fully renovated triplex offering immediate income potential and attractive investment metrics in one of Detroit's rapidly improving neighborhoods. Located just minutes from Downtown Detroit, New Center, Henry Ford Hospital, Wayne State University, and major freeway access, this multifamily property is ideally positioned for both strong rental demand and long-term appreciation. All three units have been extensively updated with modern finishes, including renovated kitchens featuring quartz countertops, updated cabinetry, and beautifully remodeled bathrooms with quartz surfaces and contemporary fixtures. Investors will appreciate the significant capital improvements already completed, reducing near-term maintenance expenses and enhancing tenant appeal. The property is projected to generate approximately $3,300 per month ($39,600 annually) in gross rental income, with the second-floor unit currently leased at $1,200 per month. The first-floor unit is projected at $1,300 per month and the third-floor unit at $800 per month, providing immediate upside through lease-up of the remaining units. With a projected gross rent multiplier under 9 and estimated cap rate approaching 7%, this property presents a compelling opportunity for investors seeking cash flow, appreciation potential, and a renovated asset requiring minimal additional investment. Whether adding to an established portfolio or entering the multifamily market, this property checks all the boxes for today's investor. Rare opportunity to acquire a fully renovated triplex with strong income potential, modern finishes, and an unbeatable location near Detroit's largest employment, medical, and educational centers. Buyer and Buyer's Agent to verify all information. BATVAI.
Listing Highlights
Status
Active
Days on Site
18
Property Type
Multi-Family
MLS ®
60998451
Year Built
1912
Total Square Footage
2,662
Lot/Acreage
0.12
County
Wayne
Neighborhood
Bela Hubbards Sub
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: 2662
- Below Ground Sq Ft: n/a
- Basement: Block
- Other:
- Water: Public Water
Exterior Details
- Garage Capacity: N/A
- Lot Dimensions: 40X125
- Zoning: Residential
- Roof:
- Others:
- Sewer:
Financial Details
- Tax Amount: $1,563
- Taxes w/Assessments: N/A
- Tax/Property ID: N/A
- Tax Year: N/A
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Years
% Down Payment
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Questions About..
1561 W Grand Detroit, MI 48208
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