5807 Toledo Street
Detroit, MI 48209
- – beds
- – baths
- – sqft
- 7,405 sqft lot
- 1923 build
- – on site
Welcome to your next investment opportunity in the heart of Southwest Detroit! This 10-unit building is a beacon of potential, boasting numerous features that make it a lucrative addition to your portfolio.The upgraded units in this building command top dollar, with rents reaching up to $1,200 per month. This means a potential annual income of around $140,000 when all units are fully upgraded.Southwest Detroit is experiencing rapid appreciation, making this property an even more attractive investment. The neighboring $4.4BN Gordie Howe Bridge development is scheduled to complete next year. Its surrounding areas have seen significant development, making it an exciting time to invest in this community.Each unit in this building is individually metered.for their utility costs, simplifying property management for you and increasing your return on investment.Tenants will appreciate the convenience of air conditioning in every unit, enhancing their living experience and allowing you to command premium rents.Just a quick drive away, Downtown Detroit is less than 10 minutes from this property, offering residents access to employment centers, dining, and entertainment options. Nearby Michigan Central Station Development in CorktownWith its proximity to the nearly $1BN Michigan central station development in Corktown, this property is strategically positioned to benefit from ongoing urban revitalization and increased demand for housing in the area.This stabilized 10-unit building is a rare gem for savvy investors, combining attractive rental income potential with a prime location in a neighborhood poised for substantial growth. Don't miss out on this turn-key opportunity to secure significant cash flow and capitalize on the flourishing Southwest Detroit real estate market.Contact us today to schedule a viewing and seize this excellent investment before it's gone!
Last checked:
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Last updated Nov 18, 2024
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MLS# 81024036263 —
The Building
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Year Built:1923
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Construction Materials:Brick
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Foundation Details:Michigan Basement
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# of Units Total:10
Interior
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Features:Laundry Facility
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Basement:Yes
Financial & Terms
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Land Contract:No
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Short Sale:Unknown
Location
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Directions:Toledo Street and Campbell Street
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Directions From North South Detail:Campbell Street
The Property
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Property Type:Multifamily
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Parcel Number:16000988
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Zoning:Other
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Lot Size Dimensions:60 x 123
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Lot Size Area:0.17
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Frontage Feet:123
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Waterfront:No
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Road Frontage Type:Paved
Listing Agent
- Contact info:
- Agent phone:
- (313) 355-3004
- Office phone:
- (313) 855-7737
Taxes
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Total Taxes:$35,499
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Tax Amount Summer:$35,499
Heating & Cooling
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Cooling:Central Air
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Heating:Forced Air
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Heating Fuel:Natural Gas
Utilities
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Sewer:Public Sewer (Sewer-Sanitary)
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Water Source:Public (Municipal), Water at Street
Appliances
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Laundry Facilities:Yes
Schools
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School District:Detroit
The Community
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Subdivision Name:WALTER CRANE FARM (PLATS)
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Pets Allowed:Yes
Extra Units
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Unit Two Bed Number Of:1
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Unit Three Bed Number Of:1
IDX provided courtesy of Realcomp II Ltd., via Estately and Greater Metropolitan Association of REALTORS®, © 2024 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. ©2024 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 |
|---|---|---|---|---|
|
7/16/24
Jul 16, 2024
|
Listed / Active | REALCOMP | $829,900 | 84.4% (18.9% / YR) |
|
1/24/20
Jan 24, 2020
|
REALCOMP | $450,000 | -18.2% | |
|
11/20/19
Nov 20, 2019
|
REALCOMP | $549,900 |
