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$ 349,900
Est. payment /mo
Active Under Contract
5183 PENNSYLVANIA Street Detroit, MI 48213
4 Baths
4,356 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active Under Contract
Purchase Type For Sale
MLS Listing ID 20240087709
Originating Board Realcomp
Year Built 1925
Annual Tax Amount $61
Lot Size 4,356 Sqft
Acres 0.1
Lot Dimensions 35.00 x 129.00
Property Description
Discover this beautifully updated four-family flat that blends classic Detroit characters with modern upgrades. Each unit has been thoughtfully renovated, featuring sleek contemporary kitchens, stainless steel appliances, updated bathrooms, and sun-drenched living spaces that feel like home. Appraised well over asking at $420,000 Monthly Gross Rent: $3,975($1,025 + $950 + $950 + $1,050) Water: $1,100/year Taxes: Under $1,000/year Maintenance: Estimated $1,000/year Current Net Operating Income (NOI): ~$44,900 Current CAP Rate: ~10.7%Each unit is separately metered, tenants pay their own gas and electric, and there's off-street parking, a shared backyard, and strong curb appeal that's rare to find at this level of finish.Upside Potential? Rents are solid now but under the market for updated 2-bed units in the area. With strategic rent increases over time or short-term rental opportunities, your cash flow could go from good to great.Whether you're an investor looking to grow your portfolio or a savvy buyer ready to live in one unit and let the others pay the mortgage — this one checks every box.
Location
State MI
County Wayne
Area Wayne County - 100
Zoning Multi-Family
Direction E. Of Cadillac, N. Of Warren
Rooms
Basement Slab
Interior
Heating Forced Air
Exterior
View Y/N No
Building
Sewer Public
Water Public
Structure Type Brick
Schools
School District Detroit
Others
Tax ID W19I005904S
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Listed by KW Metro