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$ 900,000
Est. payment /mo
Active
1055 Philip Street Detroit, MI 48215
13,185 SqFt
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 13,185 sqft
Price per Sqft $68
MLS Listing ID 20251054700
Year Built 1928
Annual Tax Amount $3,067
Lot Size 6,534 Sqft
Acres 0.15
Lot Dimensions 60X112
Source Realcomp
Property Description
1055 Philip St is a 20-unit multifamily investment opportunity located between Grosse Pointe Park and Jefferson Chalmers. The property features a newer front roof, individually metered units for tenant-paid utilities, wall furnaces in each unit, and an existing radiator system that provides an alternative heating option if desired. Tenants also have access to a shared downstairs storage area that could be rented out for additional revenue. Public transportation is easily accessible, with a bus station just steps away on E Jefferson Ave, making for a quick 12-minute commute to Downtown Detroit. This property is strategically positioned near major development, including the $45 million Schaap Center for the Performing Arts expansion in Grosse Pointe Park. Whether you're a seasoned investor or entering the multifamily space, 1055 Philip offers strong cash flow, upside potential, and a prime location within Detroit's east-side resurgence.
Location
State MI
County Wayne
Area Wayne County - 100
Zoning Commercial,Multi-Family
Direction N of Jefferson Ave E/E of Connor St
Rooms
Basement Basement
Interior
Heating Radiant
Exterior
View Y/N No
Building
Foundation Brick/Mortar
Water Public
Structure Type Brick
Schools
School District Detroit
Others
Tax ID W21I060751S
Listed by Saturn Realty Group