$450,000
5907 IROQUOIS Street Detroit, MI 48213
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$450,000
Est. payment /mo
5 Baths
6,534 Sqft Lot
UPDATED:
11/20/2024 03:08 AM
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 20240085916
Originating Board Realcomp
Year Built 1923
Annual Tax Amount $7,555
Lot Size 6,534 Sqft
Acres 0.15
Lot Dimensions 60.00 x 110.00
Property Description
Discover a prime investment opportunity with this four-unit multifamily property located at 5907 Iroquois Street in Detroit. The building comprises three spacious three-bedroom units and one two-bedroom unit, offering a versatile portfolio for potential investors. Current Rental Income: • Unit 1: Three bedrooms, rented at $1,650/month • Unit 2: Three bedrooms, rented at $1,650/month • Unit 3: Two bedrooms, rented at $950/month • Unit 4: Three bedrooms, currently vacant With one unit available, there’s immediate potential to increase revenue by leasing the vacant space. Property Highlights: • Total of 11 bedrooms and 4 bathrooms across all units • Each unit features a comfortable layout suitable for various tenant needs • • Conveniently located near I-94, providing easy access to downtown Detroit, just a 10-minute drive away ? This property presents an excellent opportunity for both seasoned investors and those new to real estate investment. The combination of occupied units generating steady income and a vacant unit ready for occupancy makes this a compelling addition to any portfolio. Financial Overview: • Current monthly rental income: $4,250 • Potential monthly rental income (fully occupied): $5,900 • Annual gross income potential: $70,800 Don’t miss out on this chance to invest in a property with substantial income potential in a prime Detroit location. Contact us today to schedule a viewing or for more information.
Location
State MI
County Wayne
Area Wayne County - 100
Zoning Multi-Family
Direction Gratiot Ave to E Warren to Iroquois
Interior
Heating Hot Water
Exterior
Waterfront No
View Y/N No
Building
Sewer Public
Water Public
Structure Type Aluminum Siding,Brick
Others
Tax ID W17I007335S
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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Listed by KW Metro