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$459,000
Est. payment /mo
4 Baths
4,356 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Municipality Grosse Pointe Park City
Subdivision Grosse Pointe Park City
MLS Listing ID 20261084759
Year Built 1926
Annual Tax Amount $11,692
Lot Size 4,356 Sqft
Acres 0.1
Lot Dimensions 40 x 108
Source Realcomp
Property Description
Rare investment opportunity in Grosse Pointe Park, one of Metro Detroit's most sought-after rental markets! Multifamily properties like this charming brick 4 unit building rarely come to market, often remaining in the same ownership for decades. Offering timeless character, hardwood floors, and updates throughout, this well-maintained property features a brand-new roof (2026), four separate HVAC systems, individually metered gas and electric, and a convenient four-space rear parking pad. All units are 2 bed 1 full bath. Strong rental income generating $4,700 per month ($56,400 annually), with upside potential through rent increases and expense reductions. An excellent opportunity for investors seeking long-term wealth building through rental income, appreciation, and valuable tax advantages, including depreciation deductions and eligible rental property expenses.An outstanding opportunity for owner-occupants looking to house hack! Live in one apartment while renting out the other three to help offset mortgage payments, property taxes, insurance, and carrying costs, potentially reducing personal housing expenses while building equity in a multifamily asset.Tenants enjoy access to two exclusive resident-only waterfront parks, award-winning Grosse Pointe Public Schools, and all the amenities Grosse Pointe Park offers. Ideally situated steps from Fairfax Market for everyday grocery convenience, neighborhood favorite Village Wine Shop, and the vibrant West Park district featuring local coffee shops, restaurants, bars, and nightlife.Rare opportunity to own a solid brick four-unit property in the heart of Grosse Pointe Park. Generate income, build equity, enjoy potential tax benefits, and invest in one of Metro Detroit's most desirable communities!
Location
State MI
County Wayne
Zoning Residential
Direction Between Fairfax & Jefferson
Interior
Heating Forced Air, Radiant
Exterior
View Y/N No
Building
Structure Type Brick
Schools
School District Grosse Pointe
Others
Tax ID 39009010158002
Acceptable Financing Cash, Conventional, FHA, VA Loan
Listing Terms Cash, Conventional, FHA, VA Loan
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Listed by Jim Saros Real Estate Services
NEARBY SCHOOLS & PROPERTIES
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