7403 Midland Street Active Save Request In-Person Tour Request Virtual Tour
Detroit,MI 48238
Key Details
Property Type Multi-Family
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 6,014 sqft
Price per Sqft $58
Subdivision Mulberry Hill 1
MLS Listing ID 20251044413
Style Other
Bedrooms 8
Full Baths 8
Year Built 1928
Annual Tax Amount $8,820
Lot Size 4,791 Sqft
Property Sub-Type Other
Property Description
Remarkable 8-Unit Investment Opportunity in the Fitzgerald/Marygrove Neighborhood!
Discover this rare multi-family property just steps from the University of Detroit Mercy and less than a mile from the Avenue of Fashion. Each of the eight units features two bedrooms and one bathroom, providing strong rental potential in one of Detroit's most sought-after and revitalizing areas. The building features a newer roof, new electrical and plumbing systems, some recessed lighting already installed, as well as common area fixtures, newer bathrooms in most of the units, and kitchen renovations already started with new flooring—so much of the heavy lifting has already been completed. Each unit is separately metered for gas and electricity, allowing residents to pay their own utilities. To complete the project, only HVAC systems, hot water tanks, and cosmetic finishes remain. Once completed, this property is projected to generate an estimated 20%+ cap rate(at $1200/month rents), making it an outstanding income-producing investment.
Located near Marygrove Conservancy, Ella Fitzgerald Park, and the Livernois-McNichols corridor, the neighborhood continues to benefit from major reinvestment through new streetscapes, parks, and local business development. Residents enjoy easy access to major freeways, shopping, dining, nightlife, and entertainment, with quick commutes to Downtown Detroit, Midtown, and nearby employment centers. All measurements and data are estimated.
Location
State MI
County Wayne
Area Det 6-Tire - Grnfld - Livernois
Zoning Multi-Family
Interior
Heating Forced Air
Exterior
Exterior Feature Lighting,Private Entry
Building
Foundation Basement
Sewer Sewer (Sewer-Sanitary)
Water Public (Municipal)
Structure Type Brick
Schools
School District Detroit
Others
Acceptable Financing Cash,Conventional,Trade/Exchange,Warranty Deed
Listing Terms Cash,Conventional,Trade/Exchange,Warranty Deed