5907 Iroquois Street
Detroit, MI 48213
- – beds
- 4.1 baths
- 4,680 sqft
- 6,534 sqft lot
- $96 per sqft
- 1923 build
- – on site
Discover a prime investment opportunity with this four-unit multifamily property located at 5907 Iroquois Street in Detroit. The building comprises three spacious three-bedroom units and one two-bedroom unit, offering a versatile portfolio for potential investors. Current Rental Income: • Unit 1: Three bedrooms, rented at $1,650/month • Unit 2: Three bedrooms, rented at $1,650/month • Unit 3: Two bedrooms, rented at $950/month • Unit 4: Three bedrooms, currently vacant With one unit available, there’s immediate potential to increase revenue by leasing the vacant space. Property Highlights: • Total of 11 bedrooms and 4 bathrooms across all units • Each unit features a comfortable layout suitable for various tenant needs • • Conveniently located near I-94, providing easy access to downtown Detroit, just a 10-minute drive away ? This property presents an excellent opportunity for both seasoned investors and those new to real estate investment. The combination of occupied units generating steady income and a vacant unit ready for occupancy makes this a compelling addition to any portfolio. Financial Overview: • Current monthly rental income: $4,250 • Potential monthly rental income (fully occupied): $5,900 • Annual gross income potential: $70,800 Don’t miss out on this chance to invest in a property with substantial income potential in a prime Detroit location. Contact us today to schedule a viewing or for more information.
Last checked:
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Last updated Nov 15, 2024
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MLS# 20240085916 —
The Building
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Year Built:1923
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Construction Materials:Aluminum, Brick
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Architectural Style:Colonial
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Foundation:Block
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Foundation Details:Basement
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# of Units Total:4
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Stories:2 Story
Interior
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Basement:Yes
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Basement Type:Unfinished
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Fireplace:No
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Total:4,680 Sqft
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Total Combined:4,680 Sqft
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Total Basement:2,296 Sqft
Financial & Terms
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Land Contract:No
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Short Sale:No
Location
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Directions:Gratiot Ave to E Warren to Iroquois
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Directions From North South Detail:Medbury Ave and Lambert
The Property
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Property Type:Multifamily
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Parcel Number:W17I007335S
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Zoning:Multi-Family
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Homestead:No
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Lot Size Dimensions:60.00 x 110.00
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Lot Size Area:0.15
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Pool:No
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Waterfront:No
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Road Frontage Type:Paved
Listing Agent
- Contact info:
- Agent phone:
- (248) 812-7377
- Office phone:
- (248) 288-3500
Taxes
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Total Taxes:$7,555
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Tax Amount Summer:$6,768
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Tax Amount Winter:$787
Baths
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Total Baths:4.10
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Full Baths:4
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Half Baths:1
Heating & Cooling
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Heating:Hot Water
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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)
Schools
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School District:Detroit
The Community
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Subdivision Name:STEPHENS ELM PK (PLATS)
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Pets Allowed:No
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Assessment:340.00
Extra Units
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Unit Two Bed Number Of:1
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Unit Three Bed Number Of:3
IDX provided courtesy of Realcomp II Ltd., via Estately and Realcomp II Ltd, © 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).
Max Internet Speed
Provided by BroadbandNow®
This is the maximum advertised internet speed available for this home. Under 10 Mbps is in the slower range, and anything above 30 Mbps is considered fast. For heavier internet users, some plans allow for more than 100 Mbps.
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
11/14/24
Nov 14, 2024
|
Listed / Active | REALCOMP | $450,000 | 32.4% |
|
4/26/24
Apr 26, 2024
|
REALCOMP | $340,000 | -4.2% | |
|
3/17/24
Mar 17, 2024
|
REALCOMP | $354,900 |
