1626 Gladstone Street
Detroit, MI 48206
- – beds
- 4 baths
- 3,320 sqft
- 5,227 sqft lot
- $114 per sqft
- 1920 build
- – on site
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Discover a solid investment opportunity at 1626-1628 Gladstone, situated just 4 minutes from the historic Boston Edison District. This hard-to-find Section 8 approved 4-unit property is located on a spacious 5,357 square foot lot and features four recently remodeled two-bedroom units. With recently installed furnaces, hot water tanks, updated plumbing, and updated electrical systems, this property ensures minimal maintenance concerns. Each unit was freshly painted prior to the tenants moving in, features high-quality carpeting with premium underlayment, and a recently installed 40-year roof. Currently, three of the four units are Section 8 leased, providing reliable rental income. The fourth unit has been left vacant, offering an option for "house hacking" or can be rented for 1,250 per month. The current rental roll is as follows: 1,295, 1,166, and 1,165, totaling 3,626 direct deposited into the owners account on the 1st of every month. As the new owner you can either live in the vacant unit, allowing the rental income to cover the mortgage, or rent it out to bring the total monthly rental income to 4,872—just shy of 60,000 per year from one property! This property offers the confidence of steady income, with tenants paying their own utilities, enhancing the return on investment. Please contact the listing agent via email or text for more information. Buyers Agent to verify all info. Please do not disturb the tenants. Showings are available only with an accepted offer.
Last checked:
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Last updated Apr 1, 2025
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MLS# 20240051450 —
The Building
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Year Built:1920
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Year Remodeled:2021
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New Construction:false
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Construction Materials:Brick
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Architectural Style:Quadruplex
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Levels:Two
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Basement:Unfinished
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Basement:true
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Foundation Details:Basement, Poured
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Exterior Features:Balcony
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Security Features:SmokeDetectors
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Patio And Porch Features:Covered
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Above Grade Finished Area:3320.0
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Below Grade Total Area:1380
Interior
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Fireplace:false
Room Dimensions
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Living Area:3320.0
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Living Area Source:Appraiser
Location
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Directions:N Rosa Parks W Hazelwood
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Cross Street:N Rosa Parks W Hazelwood
The Property
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Parcel Number:W08I002476S
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Property Type:ResidentialIncome
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Property Subtype:MultiFamily
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Lot Size Acres:0.12
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Lot Size Area:0.12
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Lot Size Dimensions:40.00 x 134.00
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Lot Size Units:Acres
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Zoning Description:Multi-Family
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Road Frontage Feet:40
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Road Frontage Type:Paved
Listing Agent
- Contact info:
- Agent phone:
- (313) 899-8772
- Office phone:
- (313) 484-4888
Taxes
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Tax Legal Description:N GLADSTONE E 10 FT 29 28 STEPHENS SUB L30 P44 PLATS, WCR 8/118 40 X 134.21
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Tax Assessed Value:30300
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Tax Annual Amount:2858.0
Baths
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Total Baths:4
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Full Baths:4
Heating & Cooling
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Heating:ForcedAir, NaturalGas
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Heating:true
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Cooling:false
Utilities
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Sewer:PublicSewer, SewerAtStreet
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Water Source:Public, WateratStreet
Schools
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High School District:Detroit
The Community
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Subdivision Name:STEPHENS SUB (PLATS)
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Senior Community:false
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Pool Features:None
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Waterfront:false
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Pets Allowed:No
Parking
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Attached Garage:false
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Parking Total:2.0
IDX provided courtesy of Realcomp II Ltd., via Estately and Realcomp II Ltd, © 2025 Realcomp II Ltd. Shareholders
Estately Inc. is a Michigan licensed brokerage #6505374810, managed by Michigan licensed REALTOR® broker Darren Yearsley #6505374810.
IDX information is provided exclusively for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
IDX provided courtesy of Realcomp II Ltd. via Estately Inc. and REALCOMP. ©2025 Realcomp II Ltd. Shareholders.
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
8/26/24
Aug 26, 2024
|
Sold | REALCOMP | $379,900 |
