Grosse Pointe, MI 48230 1536,516 NEFF Lane Lane
See all 35 photos
Grosse Pointe, MI 48230 1536,516 NEFF Lane Lane
Grosse Pointe, MI 48230 1536,516 NEFF Lane Lane
Grosse Pointe, MI 48230 1536,516 NEFF Lane Lane
Grosse Pointe, MI 48230 1536,516 NEFF Lane Lane
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
Mon
26
Jan
Tue
27
Jan
Wed
28
Jan
Realty Executives Home Towne

Realty Executives Home Towne

+1(855) 464-7653
$ 3,995,000
Est. payment /mo
Save
New

516 NEFF Lane Lane Grosse Pointe, MI 48230 1536

20 Baths

16,080 SqFt

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 16,080 sqft

Price per Sqft $248

Subdivision Mi

MLS Listing ID 60964783

Style 2 Story

Full Baths 20

Year Built 1972

Annual Tax Amount $44,052

Lot Size 0.970 Acres

Acres 0.97

Lot Dimensions 114.20 x 437.00

Property Sub-Type Multi-Family

Property Description

Exceptional opportunity to acquire a well-located 20-unit multifamily asset in the heart of Grosse Pointe, one of Metro Detroit's most desirable and supply-constrained rental markets. This stabilized community offers immediate cash flow with significant upside through continued rent growth and value-add execution. The property features a strong unit mix with spacious floor plans, well-maintained interiors, and a history of high occupancy. Current ownership has completed substantial capital improvements in recent years, including renovations to a portion of the units, allowing a new owner to continue implementing a proven renovation and rent-increase strategy. Situated in a premier residential setting near the waterfront, top-rated schools, retail, dining, and major employment corridors, the property benefits from consistent tenant demand and long-term market stability. Grosse Pointe's limited multifamily inventory and strong demographic profile create a compelling environment for sustained rental growth and asset appreciation. With in-place income, professional management history, and clear value-add potential, this offering is ideal for investors seeking a stabilized asset with both immediate yield and long-term upside in a premier suburban market.

Location

State MI

County Wayne

Area Grosse Pointe (82335)

Zoning Multi-Family

Rooms

Basement Block, Egress/Daylight Windows

Interior

Heating Forced Air

Cooling Central A/C

Fireplace No

Exterior

Exterior Feature Brick

Amenities Available Laundry Facility

Building

Story 2 Story

Foundation Basement

Water Public Water

Structure Type Brick

Schools

School District Grosse Pointe Public Schools

Others

Ownership Private

Energy Description Natural Gas

Financing Cash,Conventional

MiRealSource (MI RealSource (Lenawee /Saginaw/SE-Border/Gr Shiawassee/Upper Peninsula)
Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource.
Listed by Pinnacle Plus Realty LLC

GET MORE INFORMATION

By checking this box, I agree by electronic signature to the Electronic Disclosure Consent Agreement; to receive recurring marketing communication from or on behalf of Realty Executives Home Towne, including auto-dialed calls, texts, and artificial/prerecorded voice messages (message frequency varies; data rates may apply; reply "STOP" to opt-out of texts or "HELP" for assistance); and to the Terms of Service and Privacy Policy of this website. Consent not required to make a purchase. I understand that I can call to obtain direct assistance.

Go tour this home

516 NEFF Lane Lane