@properties Christie's Int'l R.E. Birmingham
Listed by @properties Christie's Int'l R.E. Birmingham
$365,000
485 E GRAND Boulevard
Details
APN W15I008064S
Property Type Multifamily
Sub Type Apartment Building, Duplex/Triplex/Quadruplex
Square Footage 2,884
NOI $97,944
Year Built 1912
Acreage 0.270
Multifamily
Marketing description
Incredible investment opportunity in the heart of Island View! This massive multi-unit residence has served as a licensed adult foster care facility for over 50 years and was previously approved for up to 20 residents. The property is currently tenant-occupied with ten long-term residents—many with over a decade of tenancy—who would love to stay. With nine spacious bedrooms, four full bathrooms, and two half baths, the floor plan offers flexibility and scale. Just minutes from Belle Isle, downtown Detroit, and the bustling West Village, this property is perfect for investors seeking cash flow and long-term upside in a rapidly developing neighborhood.
Listing Contacts
@properties Christie's Int'l R.E. Birmingham
Listed by @properties Christie's Int'l R.E. Birmingham
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$97,944.00
$8,162.00/mo
Valuation Metrics
0
DSCR
26.83%
Cap Rate
26.83%
ROI
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