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$435,000
Est. payment /mo
4 Baths
3,600 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type MultiFamily
Listing Status Active
Purchase Type For Sale
Square Footage 3,600 sqft
Price per Sqft $120
Subdivision Brandons
MLS Listing ID 20251057071
Style Colonial
Full Baths 3
Half Baths 1
Year Built 1914
Lot Size 4,356 Sqft
Acres 0.1
Property Sub-Type MultiFamily
Property Description
Incredible Investment Opportunity – Perfect for Elder Care or Student Housing! Welcome to your next high-return investment in the heart of Downtown Detroit! This beautifully renovated three-story historic home offers a unique opportunity to generate significant rental income, whether you're seeking to establish an elder care facility or take advantage of demand for off-campus housing near Wayne State University. Boasting Approximately 3,600 sq ft of meticulously restored living space, this residence features custom finishes throughout, from extended, built-in cabinetry to original early-1900s Detroit tilework in the bathrooms. Each spacious bedroom offers the potential to generate $2,000–$3,000 per month in rent, creating a projected gross income of over $10,000/month when fully occupied. The property's layout is ideal for shared living, with multiple bathrooms, generous common areas, and a third-floor suite perfect for staff quarters or a premium rental unit. The home also includes a full basement that can be divided into individual storage units for each resident, adding valuable utility and convenience. With two kitchen areas, residents can enjoy greater flexibility and comfort in meal preparation. Stairs can be easily outfitted with stairlifts, making the property more accessible for elderly residents. Additionally, a privacy fence can be installed around the perimeter to create a safe and enclosed environment for all occupants. The exterior is just as impressive, with period-accurate paint from the 1901 East Village catalogue adding charm and curb appeal. Located in a high-demand area with walkable access to restaurants, entertainment, and major institutions, this property is a rare chance to capitalize on Detroit's growing need for elder care housing or student accommodations. Don't miss this opportunity to turn a piece of Detroit's architectural legacy into a thriving income generating business!
Location
State MI
County Wayne
Area Area05052Det6Macki75Conner
Rooms
Basement Unfinished
Interior
Heating ForcedAir, NaturalGas
Exterior
Pool None
View Y/N No
Garage false
Building
Foundation Basement, Poured
Sewer PublicSewer
Water Public
New Construction No
Schools
High Schools Detroit
School District Detroit
Others
Senior Community false
Acceptable Financing Cash, Contract, Conventional
Listing Terms Cash, Contract, Conventional
Special Listing Condition ShortSaleNo, Standard
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Listed by Drake O'Donnell of NATOD Management
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