1561 Grand Boulevard, Detroit, Michigan 48208

$349,900

Property Details

MLS#: 20261038699
Bedrooms: N/A
Bathrooms: 3.5
Square Feet: 2,662
Price per Sqft: $131
Lot Size: 0.12 acres
Year Built: 1912
Property Type: ResidentialIncome
Status: Active
Days on Market: 8

Description

Turnkey, fully renovated triplex offering immediate income potential and attractive investment metrics in one of Detroit's rapidly improving neighborhoods. Located just minutes from Downtown Detroit, New Center, Henry Ford Hospital, Wayne State University, and major freeway access, this multifamily property is ideally positioned for both strong rental demand and long-term appreciation. All three units have been extensively updated with modern finishes, including renovated kitchens featuring quartz countertops, updated cabinetry, and beautifully remodeled bathrooms with quartz surfaces and contemporary fixtures. Investors will appreciate the significant capital improvements already completed, reducing near-term maintenance expenses and enhancing tenant appeal. The property is projected to generate approximately $3,300 per month ($39,600 annually) in gross rental income, with the second-floor unit currently leased at $1,200 per month. The first-floor unit is projected at $1,300 per month and the third-floor unit at $800 per month, providing immediate upside through lease-up of the remaining units. With a projected gross rent multiplier under 9 and estimated cap rate approaching 7%, this property presents a compelling opportunity for investors seeking cash flow, appreciation potential, and a renovated asset requiring minimal additional investment. Whether adding to an established portfolio or entering the multifamily market, this property checks all the boxes for today's investor. Rare opportunity to acquire a fully renovated triplex with strong income potential, modern finishes, and an unbeatable location near Detroit's largest employment, medical, and educational centers. Buyer and Buyer's Agent to verify all information. BATVAI.

Location

This property is located in Detroit, Michigan. Detroit is part of the Metro Detroit area, offering convenient access to employment, schools, shopping, and recreation.

Frequently Asked Questions

What is the price of 1561 Grand Boulevard?

1561 Grand Boulevard is listed at $349,900, or $131 per square foot.

How many bedrooms does 1561 Grand Boulevard have?

This property has N/A bedrooms and 3.5 bathrooms, with 2,662 square feet of living space.

Schedule a Showing

Interested in this property? Contact Sonic Realty to schedule a private showing. Our experienced agents can help you navigate the home buying process.

Phone: (313) 466-2430

Email: info@sonicrealty.com

Similar Homes for Sale in Detroit

2494 Hazelwood Street, Detroit — $349,900 · 6bd · 2ba · 2,550sqft
750 Clairpointe Woods Drive, Detroit — $349,900 · 3bd · 2ba · 2,749sqft
3800 Sturtevant Street, Detroit — $349,900 · 4bd · 3ba · 2,500sqft
625 HORTON Street, Detroit — $349,900 · 2ba · 2,146sqft
2253 Gladstone Street, Detroit — $349,900 · 2ba · 2,710sqft
2494 Hazelwood Street, Detroit — $349,900 · 2ba · 2,550sqft
2494 Hazelwood Street, Detroit — $349,900 · 2ba · 2,550sqft
551 Fiske Drive, Detroit — $349,900 · 3bd · 2ba · 2,577sqft