Detroit, MI 48209 5807 Toledo Street
$829,900
18 more
Presented By: Ishma Best at Prep Realty - (313) 855-7737
Home Details
Welcome to your next investment opportunity in the heart of Southwest Detroit! This 10-unit building is a beacon of potential, boasting numerous features that make it a lucrative addition to your portfolio.The upgraded units in this building command top dollar, with rents reaching up to $1,200 per month. This means a potential annual income of around $140,000 when all units are fully upgraded.Southwest Detroit is experiencing rapid appreciation, making this property an even more attractive investment. The neighboring $4.4BN Gordie Howe Bridge development is scheduled to complete next year. Its surrounding areas have seen significant development, making it an exciting time to invest in this community.Each unit in this building is individually metered, ensuring that tenants are responsible for their utility costs, simplifying property management for you and increasing your return on investment.Tenants will appreciate the convenience of air conditioning in every unit, enhancing their living experience and allowing you to command premium rents.Just a quick drive away, Downtown Detroit is less than 10 minutes from this property, offering residents access to employment centers, dining, and entertainment options. Nearby Michigan Central Station Development in CorktownWith its proximity to the nearly $1BN Michigan central station development in Corktown, this property is strategically positioned to benefit from ongoing urban revitalization and increased demand for housing in the area.This stabilized 10-unit building is a rare gem for savvy investors, combining attractive rental income potential with a prime location in a neighborhood poised for substantial growth. Don't miss out on this turn-key opportunity to secure significant cash flow and capitalize on the flourishing Southwest Detroit real estate market.Contact us today to schedule a viewing and seize this excellent investment before it's gone!
Presented By: Ishma Best at Prep Realty - (313) 855-7737
Interior Features for 5807 Toledo Street
Bathrooms
Total Baths
Other Interior Features
Air Conditioning Y/NYes
BasementMichigan Basement
Basement (Y/N)Yes
Heating Y/NYes
Total Fireplaces1
General for 5807 Toledo Street
Additional Parcels Y/NNo
Association AmenitiesPets Allowed
CityDetroit
Construction MaterialsBrick
CoolingCentral Air
CountyWayne
DirectionsToledo Street and Campbell Street
Electric On Property Y/NNo
Gross Income103330.0
HeatingForced Air
High School DistrictDetroit
Home Owner AssocYes
Land Lease Y/NNo
Lease Renewal Y/NNo
Legal DescriptionS TOLEDO 1166&1167 E 10 FT 1168 SUB OF WALTER CRANE FARM L5 P29 PLATS, W C R 16/9 60 X 123
Lot Size Square Feet7405.0
Lot Size UnitsAcres
MLS AreaWayne County - 100
MLS Area MinorWayne County - 100
MobileHomeRemainsYNNo
ModificationTimestamp2024-10-11T18:55:47Z
New ConstructionNo
NumberOfUnitsTotal10
OwnerPaysWater
PossessionSubject To Tenant Rights
Property SubType5+ Units
Property TypeMulti Family
Rent Control Y/NNo
Senior CommunityNone
SewerPublic Sewer
Standard StatusActive
StatusActive
Subdivision NameWALTER CRANE FARM (PLATS)
Tax Annual Amount35499.0
Tax Assessed Value182003
Tax Year2023
Tenant PaysElectric, Gas
TermsCash, Conventional
TownshipDetroit City
UtilitiesNatural Gas Connected, Water Available
Waterfront Y/NNo
Year Built1923
Zoning DescriptionMulti-Family
Exterior for 5807 Toledo Street
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot Dimensions60 x 123
Lot Size Acres0.17
Lot Size Area0.17
Number of Buildings1
Open Parking Y/NNo
Road Surface TypePaved
SpaNo
Total Parking0.0