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Realty Executives Home Towne

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$ 1,295,000

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Pending

515 Neff Road Grosse Pointe, MI 48230

12 Beds

8 Baths

6,958 SqFt

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Pending

Purchase Type For Sale

Square Footage 6,958 sqft

Price per Sqft $186

Subdivision Mi

MLS Listing ID 50211102

Style 2 Story

Bedrooms 12

Full Baths 6

Half Baths 2

Year Built 1953

Annual Tax Amount $15,936

Tax Year 2025

Lot Size 0.340 Acres

Acres 0.34

Lot Dimensions 95X156

Property Sub-Type Multi-Family

Property Description

Exceptional opportunity to acquire four fully updated residential units offered together as one investment property in the heart of highly sought-after Grosse Pointe City. Consisting of four separate residences located at 515, 517, 521, and 523 Neff Road, this unique multi-family offering provides a rare combination of turnkey condition, flexible ownership options, and an unbeatable walkable location. The property includes two distinct building styles. Units 515 and 517 are upper and lower flats, each offering 2 bedrooms, 1 full bathroom, spacious living and dining rooms, eat-in kitchens, balcony/porch space, separate laundry and storage areas in the shared basement, and access to a shared garage. Units 521 and 523 are side-by-side townhomes featuring living rooms with fireplaces, dining rooms, eat-in kitchens with coffee/bar nook areas, and half baths on the main level, along with 4 bedrooms (2 with walkout balcony porches) and 2 full bathrooms upstairs. The spacious bonus room on the second floor offers exceptional flexibility and can serve as a fourth bedroom, family room, playroom, home office, or additional living space. Each townhome includes a private basement and attached one-car garage. Together, the property offers two 2-bedroom, 1-bath flats and two 4-bedroom, 2.5-bath townhomes, creating a desirable mix of rental opportunities. All four residences have been extensively refreshed and are truly move-in ready with fresh paint throughout, updated lighting, new carpeting in carpeted areas, numerous new appliances, and brand-new windows and sliding doors throughout. This rare turnkey four-unit income property offers tremendous flexibility for investors seeking a fully leased or market-rent opportunity, as well as owner-occupants looking to take advantage of a potential principal residence tax exemption while generating income from the remaining units and enjoying the convenience of on-site management. Few opportunities exist to acquire four updated units in such a premier location. Situated just one block from The Village, residents enjoy easy access to restaurants, boutiques, coffee shops, fitness studios, grocery shopping, and year-round community events. Walk to Maire Elementary, Elworthy Field, neighborhood parks, tennis courts, Trader Joe's, Lucky Detroit Coffee & Espresso, and resident-exclusive Neff Park featuring a marina, swimming pools, playgrounds, picnic areas, and waterfront recreation. From Music on the Plaza and summer festivals to the iconic Santa Claus Parade and holiday tree lighting, this location embodies the very best of the Grosse Pointe lifestyle and the small-town charm that makes this community so special.

Location

State MI

County Wayne

Area Grosse Pointe (82335)

Zoning Residential

Rooms

Basement Partially Finished

Dining Room Eat-In Kitchen, Formal Dining Room

Kitchen Eat-In Kitchen, Formal Dining Room

Interior

Interior Features Hardwood Floors

Heating Forced Air

Cooling Ceiling Fan(s), Central A/C

Fireplaces Type LivRoom Fireplace

Fireplace Yes

Appliance Dishwasher, Disposal, Dryer, Microwave, Range/Oven, Refrigerator, Washer

Exterior

Exterior Feature Brick

Parking Features Attached Garage

Garage Spaces 2.0

Amenities Available Sidewalks

Building

Story 2 Story

Foundation Basement

Water Public Water at Street

Structure Type Brick

Schools

School District Grosse Pointe Public Schools

Others

Ownership Private

SqFt Source Measured

Energy Description Natural Gas

Financing Cash,Conventional

Virtual Tour https://www.zillow.com/view-imx/1c6326a9-d6d2-4e32-9607-0c1ef1e13efc?wl=true&setAttribution=mls&initialViewType=pano

MiRealSource (MI RealSource (Lenawee /Saginaw/SE-Border/Gr Shiawassee/Upper Peninsula)

Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource.

Listed by Sine & Monaghan LLC

Realty Executives Home Towne

515 Neff Road Grosse Pointe, MI 48230

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

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515 Neff Road