1055 Philip St is a 20-unit multifamily investment opportunity located between Grosse Pointe Park and Jefferson Chalmers. The property features a newer front roof, individually metered units for tenant-paid utilities, wall furnaces in each unit, and an existing radiator system that provides an alternative heating option if desired. Tenants also… Read More have access to a shared downstairs storage area that could be rented out for additional revenue. Public transportation is easily accessible, with a bus station just steps away on E Jefferson Ave, making for a quick 12-minute commute to Downtown Detroit. This property is strategically positioned near major development, including the $45 million Schaap Center for the Performing Arts expansion in Grosse Pointe Park. Whether you're a seasoned investor or entering the multifamily space, 1055 Philip offers strong cash flow, upside potential, and a prime location within Detroit's east-side resurgence. Read Less
Courtesy of Saturn Realty Group.
Listing Snapshot
Days Online
52
Last Updated
Property Type
Commercial/Industrial
Square Ft.
13,185
Lot Size
0.15 Acres
MLS Number
60954448
30 Days Snapshot Of 48215
$1k
0%
(avg) sold price
0
-100%
homes sold
160
0%
(avg) days on market
Snapshot
Area Map
Additional Details
Property Access
Paved Street
Building
13,185 square feet, 4-10 Story
Exterior Features
Brick
Foundation
Basement
Water Features
Public Water
Heating
Radiant
Lot
0.15 acres, Lot size: 60X112
Property
Apartment Bldg, Commercial, Multi-Family
Taxes
Total amount: $3,067
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