1565 Grand Boulevard, Detroit, Michigan 48208
$299,900
Property Details
- MLS#: 20261041443
- Bedrooms: N/A
- Bathrooms: 3.5
- Square Feet: 3,640
- Price per Sqft: $82
- Lot Size: N/A
- Year Built: 1912
- Property Type: ResidentialIncome
- Transaction: For Sale
- Listing Status: Active
- Days on Market: 134
Tax and Assessment Information
Tax and assessment information is unavailable.
Description
Solid brick quadplex producing income on West Grand Boulevard. Four 2-bedroom, 1-bath units over a full basement. Three units are leased with tenants in place and the fourth is vacant, so a new owner sets that rent at today's market - the clearest upside in the building. Rents today total $2,050/mo. With all four units at the projected market rent of $850/unit ($3,400/mo), the projected cap rate is approx 7.2% (est. after actual taxes of $6,283/yr, 10% vacancy, 10% management, insurance and reserves; buyer to verify). Mechanicals have been updated: newer furnaces, updated electrical boxes and PEX plumbing throughout. Photos are recent and reflect current condition. A complete investment analysis is attached to the listing documents alongside the disclosures - rent, actual taxes, insurance, management and net income on one page - so this property can be evaluated properly before writing. Tenant parking on the street in front or behind the building. Shown upon accepted offer only; please do not disturb tenants. Leases and ledgers provided during the inspection period. Cash, Conventional, FHA or VA only - no alternative financing.
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 1565 Grand Boulevard?
1565 Grand Boulevard is listed at $299,900, or $82 per square foot.
How many bedrooms does 1565 Grand Boulevard have?
This property has N/A bedrooms and 3.5 bathrooms, with 3,640 square feet of living space.
Ask about this property
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Phone: (313) 484-4696
Email: info@sonicrealty.com
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