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$ 725,000
Est. payment /mo
Price Dropped by $50K
2017 BURLINGAME Street Detroit, MI 48206
10 Baths
0.27 Acres Lot
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 20240091921
HOA Y/N true
Originating Board Realcomp
Year Built 1948
Annual Tax Amount $3,135
Lot Size 0.270 Acres
Acres 0.27
Lot Dimensions 90.00 x 133.00
Property Description
Prime Multifamily Investment Opportunity in Detroit! Discover the potential of 2017 Burlingame Street, a high upside value add 10-unit multifamily property with timeless charm and modern upgrades, offering a high upside in the desirable Boston Edison District. Spanning at almost 8,000 sq. ft., this brick-and-block property features 7 one-bedroom and 3 two-bedroom units, with potential monthly rental income of $9,500 and projected net annual income of $84,000. Recent updates include 3 new boilers, upgraded roof, upgraded windows, fresh paint, new flooring in 4 units, and updated kitchen counters and vanities. The property also includes new appliances (to be installed), a full basement with storage and laundry facilities, and parking for 20 vehicles. With 3 units already leased through Section 8, generating immediate income, and owner-paid utilities costing just $760/month, this property is an outstanding investment. Financing options include cash, conventional, or a land contract with a $350,000 down payment at a 7.5% interest rate. Don't miss this exceptional opportunity—schedule your showing today!
Location
State MI
County Wayne
Area Wayne County - 100
Zoning Commercial,Multi-Family
Direction Boston And Lodge
Interior
Heating Hot Water, Radiant
Cooling Window Unit(s)
Exterior
Amenities Available Pets Allowed
View Y/N No
Building
Lot Description Sidewalk
Sewer Public
Water Public
Structure Type Brick
Schools
School District Detroit
Others
Tax ID W08I003376C94
Acceptable Financing Cash, Conventional, Contract
Listing Terms Cash, Conventional, Contract
Listed by EXP Realty Main