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$ 1,200,000
Est. payment /mo
New
681 W Canfield Street Detroit, MI 48201 1139
5 Baths
7,000 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 7,000 sqft
Price per Sqft $171
Subdivision Mi
MLS Listing ID 61020366
Style 2 Story
Full Baths 5
Year Built 1910
Annual Tax Amount $3,960
Lot Size 4,356 Sqft
Acres 0.1
Lot Dimensions 50X71.38
Property Sub-Type Multi-Family
Property Description
Rare opportunity to own a meticulously maintained four-unit multifamily property on Historic West Canfield in the heart of Midtown Detroit. Originally built in 1910, this beautifully preserved carriage house offers approximately 7,000 square feet and features four spacious two-bedroom apartments. Three of the four units include private in-unit laundry, while the fourth is served by a common laundry area. Also three of four units are occupied, generating income from day one. The property has benefited from extensive capital improvements, including a newer roof, gutters, tuckpointing, newer vinyl replacement windows, updated plumbing, separate gas and electric meters, and modern mechanical systems. A newly constructed secure fenced and gated parking lot provides approximately 10 off-street parking spaces--a rare amenity in Midtown. Current rents are below market, presenting an outstanding value-add opportunity for investors seeking immediate upside through future lease renewals. Ideally located just steps from Mad Nice, Selden Standard, SheWolf, Awake Cafe, Oak & Reel, Whole Foods Market, and the Detroit Institute of Arts, with convenient access to Wayne State University, Detroit Medical Center, Children's Hospital of Michigan, Henry Ford Health, the QLINE, I-75, I-94, and Downtown Detroit. A turnkey investment in one of Detroit's most desirable and walkable neighborhoods offering strong long-term appreciation potential. Do not miss out on this rare opportunity! Dedicated parking is supported by recorded easement and maintenance agreements, with documentation available upon request. Financial information, current rent roll and operating information available to qualified buyers upon request. Rental amounts reflected in the MLS are pro forma estimates only and are not representations of current or actual rental income. photos may be digitally enhanced, Information is deemed reliable, buyer to verify all information and data.
Location
State MI
County Wayne
Area Detroit (82001)
Zoning Multi-Family
Interior
Heating Forced Air
Fireplace No
Exterior
Exterior Feature Brick
Building
Story 2 Story
Foundation Slab
Water Public Water
Structure Type Brick
Schools
School District Detroit City School District
Others
Ownership Private
Energy Description Natural Gas
Financing Cash,Conventional,Exchange/Trade
Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource.
Listed by S&P Realty