516 NEFF Lane Lane, Grosse Pointe, Michigan 48230
$3,995,000
Property Details
- MLS#: 20261004006
- Bedrooms: N/A
- Bathrooms: 20
- Square Feet: 16,080
- Price per Sqft: $248
- Lot Size: 0.97 acres
- Year Built: 1972
- Property Type: ResidentialIncome
- Status: Active
- Days on Market: 35
Description
Exceptional opportunity to acquire a well-located 20-unit multifamily asset in the heart of Grosse Pointe, one of Metro Detroit’s most desirable and supply-constrained rental markets. This stabilized community offers immediate cash flow with significant upside through continued rent growth and value-add execution.
The property features a strong unit mix with spacious floor plans, well-maintained interiors, and a history of high occupancy. Current ownership has completed substantial capital improvements in recent years, including renovations to a portion of the units, allowing a new owner to continue implementing a proven renovation and rent-increase strategy.
Situated in a premier residential setting near the waterfront, top-rated schools, retail, dining, and major employment corridors, the property benefits from consistent tenant demand and long-term market stability. Grosse Pointe’s limited multifamily inventory and strong demographic profile create a compelling environment for sustained rental growth and asset appreciation.
With in-place income, professional management history, and clear value-add potential, this offering is ideal for investors seeking a stabilized asset with both immediate yield and long-term upside in a premier suburban market.
Location
This property is located in Grosse Pointe, Michigan. Grosse Pointe is part of the Metro Detroit area, offering convenient access to employment, schools, shopping, and recreation.
Frequently Asked Questions
What is the price of 516 NEFF Lane Lane?
516 NEFF Lane Lane is listed at $3,995,000, or $248 per square foot.
How many bedrooms does 516 NEFF Lane Lane have?
This property has N/A bedrooms and 20 bathrooms, with 16,080 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 Grosse Pointe
Browse Grosse Pointe Real Estate