5907 IROQUOIS Street Active

Detroit,MI 48213 2503

$ 450000

- Bed

5 Baths

4680 SqFt


Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 4,680 sqft

Price per Sqft $96

Subdivision Mi

MLS Listing ID 60354761

Style 2 Story

Full Baths 4

Half Baths 1

Year Built 1923

Annual Tax Amount $7,555

Lot Size 6,534 Sqft

Acres 0.15

Lot Dimensions 60.00 x 110.00

Property Description

Discover a prime investment opportunity with this four-unit multifamily property located at 5907 Iroquois Street in Detroit. The building comprises three spacious three-bedroom units and one two-bedroom unit, offering a versatile portfolio for potential investors. Current Rental Income: • Unit 1: Three bedrooms, rented at $1,650/month • Unit 2: Three bedrooms, rented at $1,650/month • Unit 3: Two bedrooms, rented at $950/month • Unit 4: Three bedrooms, currently vacant With one unit available, there’s immediate potential to increase revenue by leasing the vacant space. Property Highlights: • Total of 11 bedrooms and 4 bathrooms across all units • Each unit features a comfortable layout suitable for various tenant needs • • Conveniently located near I-94, providing easy access to downtown Detroit, just a 10-minute drive away ? This property presents an excellent opportunity for both seasoned investors and those new to real estate investment. The combination of occupied units generating steady income and a vacant unit ready for occupancy makes this a compelling addition to any portfolio. Financial Overview: • Current monthly rental income: $4,250 • Potential monthly rental income (fully occupied): $5,900 • Annual gross income potential: $70,800 Don’t miss out on this chance to invest in a property with substantial income potential in a prime Detroit location. Contact us today to schedule a viewing or for more information.

Location

State MI

County Wayne

Area Detroit (82001)

Zoning Multi-Family

Rooms

Basement Block

Interior

Heating Hot Water

Fireplace No

Exterior

Exterior Feature Aluminum,Brick

Building

Story 2 Story

Foundation Basement

Water Public Water

Structure Type Aluminum,Brick

Schools

School District Detroit City School District

Others

Ownership Private

Assessment Amount $340

Energy Description Natural Gas

Financing Cash,Conventional

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