5827 Lumley Street, Detroit, Michigan 48210

$199,000

Property Details

MLS#: 20261009550
Bedrooms: 6
Bathrooms: 3.5
Square Feet: 2,904
Price per Sqft: $69
Lot Size: 0.07 acres
Year Built: 1924
Property Type: Residential
Status: Active
Days on Market: 202

Market Analysis

Estimated Value (CMA): $136,488
Area Avg Price/Sqft: $38
This Property: $69/sqft ($31 above area average)
Price Position: +80.0% vs comparable homes
Comparable Properties Analyzed: 3

Description

Excellent investment opportunity in the heart of Detroit. This well-maintained 3-unit multifamily property is a strong cash-producing asset with immediate income in place. Two of the three units are currently rented, generating a combined $2,250 in monthly income, while the third vacant unit offers additional upside with an estimated rental potential of $1,000 per month. All units have been well cared for, and the property has a solid rental history. Features include long-term, reliable tenants who are up to date on rent, making this an ideal turnkey investment for both new and seasoned investors. The building has been consistently maintained and presents minimal deferred maintenance. Perfect for investors seeking steady cash flow, value-add potential, and a quick closing opportunity. Do not miss this income-generating multifamily property.

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 5827 Lumley Street?

5827 Lumley Street is listed at $199,000, or $69 per square foot.

How many bedrooms does 5827 Lumley Street have?

This property has 6 bedrooms and 3.5 bathrooms, with 2,904 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) 484-4696

Email: info@sonicrealty.com

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