For more information regarding the value of a property, please contact us for a free consultation.
5287 SPOKANE ST Detroit, MI 48204
Want to know what your home might be worth? Contact us for a FREE valuation!

Our team is ready to help you sell your home for the highest possible price ASAP
Key Details
Property Type Multi-Family
Sub Type MultiFamily
Listing Status Sold
Purchase Type For Sale
Square Footage 2,352 sqft
Price per Sqft $44
Subdivision Joseph Tireman
MLS Listing ID 20230087219
Style UpperLowerApartment
Full Baths 2
Year Built 1924
Property Sub-Type MultiFamily
Property Description
Calling all investors searching for an income-generating asset- Don't miss out on this remarkable opportunity to own a brick multi-unit property in the vibrant city of Detroit! With its convenient location and attractive features, this property has great return on investment potential for savvy buyers. This two-level property is turn-key & tenant ready. It features two 3-bedroom units that have been freshly painted throughout with new carpet, updated bathrooms, electrical & plumbing. Both kitchens have been refreshed & there are new light fixtures & new windows. In terms of cash flow, this property can generate substantial income, with the potential to earn up to $2,400 per month when fully rented. Detroit's rental market is thriving, making this property an excellent opportunity for those seeking a steady stream of rental income that equals an 18% Cash on Cash return! ($28,800 annual rent - $10,206 Projected annual operating expenses / $100k initial investment = 18.5%) This location offers easy access to a variety of amenities that tenants are looking for including shops, markets, restaurants, entertainment & career options such as Wayne State University, Henry Ford Hospital, Motown Museum, Pi Sci Pizza, Zebee Fish Market, plus it's only 14 minutes from Downtown. Don't miss out on this cash flow potential!
Location
State MI
County Wayne
Area Area05101Detsouthofgrandriver
Interior
Heating ForcedAir, NaturalGas
Cooling CeilingFans
Laundry ElectricDryerHookup, WasherHookup
Exterior
Exterior Feature Balcony
Parking Features OnStreet, SharedDriveway
Pool None
Utilities Available AboveGroundUtilities
View Y/N No
Roof Type Asphalt
Building
Foundation Basement, BrickMortar
Sewer PublicSewer
Water Public
Schools
School District Detroit
Others
Acceptable Financing Cash, Conventional, WarrantyDeed
Listing Terms Cash, Conventional, WarrantyDeed
Special Listing Condition ShortSaleNo, Standard
Read Less

©2025 Realcomp II Ltd. Shareholders
Bought with Elite Urban R E Professionals
GET MORE INFORMATION




