If you're looking for a smart investment opportunity in one of Detroit's most established neighborhoods, look no further. This triplex in the heart of the Palmer Park community and is currently occupied in two of its three units, with the top unit bringing in $1,500/month and the basement unit at… Read More $500/month, a built-in $2,000/month in rental income from day one. Unit #1 just became vacant, making this an ideal house hack: move in, settle into your own space, and let the existing tenants help cover your mortgage every month. The property offers 2,931 square feet of living space spread across two spacious 3-bedroom units and one 1-bedroom unit, with a shared driveway and a private rear parking lot that tenants love. Located just steps from the beautiful Palmer Park, which features hiking and biking trails, tennis courts, and an 18-hole golf course, and minutes from the University of Detroit Mercy, Marygrove College, Henry Ford Hospital, and all the shopping and dining along Woodward Avenue and McNichols Road. Whether you're a seasoned investor expanding your portfolio or a first-time buyer looking to break into real estate the smart way, this is the kind of property that rarely comes available in this neighborhood. Read Less
Courtesy of NATOD Management.
Listing Snapshot
Days Online
23
Last Updated
Property Type
Multi-Family
Square Ft.
2,431
Lot Size
0.11 Acres
MLS Number
60985915
30 Days Snapshot Of 48221
$1k
+1%
(avg) sold price
2
-50%
homes sold
181
+70%
(avg) days on market
Snapshot
Area Map
Additional Details
Property Access
Paved Street
Basement
Partially Finished
Building
2,431 square feet, 3 total units, Built in 1934, Style: 2 Story, Colonial
Exterior Features
Brick
Foundation
Basement
Water Features
Public Water
Heating
Natural Gas, Forced Air
Income
Net operating income: $42,000
Lot
Lot size: 40X120, 0.11 acres
Taxes
Total amount: $8,375
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