7403 Midland Street new

Detroit,MI 48238

$ 350000

- Bed

8 Baths

- SqFt


Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

MLS Listing ID 20251044413

Year Built 1928

Annual Tax Amount $8,820

Lot Size 4,791 Sqft

Property Description

Remarkable 8-Unit Investment Opportunity in the Fitzgerald/Marygrove Neighborhood!Discover this rare multi-family property just steps from the University of Detroit Mercy and less than a mile from the Avenue of Fashion. Each of the eight units features two bedrooms and one bathroom, providing strong rental potential in one of Detroit's most sought-after and revitalizing areas. The building features a newer roof, new electrical and plumbing systems, some recessed lighting already installed, as well as common area fixtures, newer bathrooms in most of the units, and kitchen renovations already started with new flooring—so much of the heavy lifting has already been completed. Each unit is separately metered for gas and electricity, allowing residents to pay their own utilities. To complete the project, only HVAC systems, hot water tanks, and cosmetic finishes remain. Once completed, this property is projected to generate an estimated 20%+ cap rate(at $1200/month rents), making it an outstanding income-producing investment.Located near Marygrove Conservancy, Ella Fitzgerald Park, and the Livernois-McNichols corridor, the neighborhood continues to benefit from major reinvestment through new streetscapes, parks, and local business development. Residents enjoy easy access to major freeways, shopping, dining, nightlife, and entertainment, with quick commutes to Downtown Detroit, Midtown, and nearby employment centers. All measurements and data are estimated.

Location

State MI

County Wayne

Area Wayne County - 100

Zoning Multi-Family

Interior

Heating Forced Air

Exterior

View Y/N No

Building

Water Public

Structure Type Brick

Schools

School District Detroit

Others

Acceptable Financing Cash,Conventional

Listing Terms Cash,Conventional

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