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Additional details
$ 900,000
Est. payment /mo
Active
1055 Philip ST Detroit, MI 48215
11,949 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type RealEstateOnly
Listing Status Active
Purchase Type For Sale
Square Footage 11,949 sqft
Price per Sqft $75
Subdivision Pointe View Joseph S Visger & Edgar J Hitchings
MLS Listing ID 20251054700
Year Built 1928
Lot Size 6,534 Sqft
Acres 0.15
Property Sub-Type RealEstateOnly
Property Description
1055 Philip St is a 20-unit multifamily investment opportunity located between Grosse Pointe Park and Jefferson Chalmers. The property features a newer front roof, individually metered units for tenant-paid utilities, wall furnaces in each unit, and an existing radiator system that provides an alternative heating option if desired. Tenants also have access to a shared downstairs storage area that could be rented out for additional revenue. Public transportation is easily accessible, with a bus station just steps away on E Jefferson Ave, making for a quick 12-minute commute to Downtown Detroit. This property is strategically positioned near major development, including the $45 million Schaap Center for the Performing Arts expansion in Grosse Pointe Park. Whether you're a seasoned investor or entering the multifamily space, 1055 Philip offers strong cash flow, upside potential, and a prime location within Detroit's east-side resurgence.
Location
State MI
County Wayne
Area Area05066Detmcclellaneastmacktoshore
Interior
Heating Radiant
Fireplace No
Exterior
View Y/N No
Garage false
Building
Foundation Basement, BrickMortar
Sewer Public Sewer
Water Public
New Construction No
Schools
High Schools Detroit
School District Detroit
Others
Senior Community false
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition ShortSaleNo, Standard
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Listed by Okeish Y Davis of Saturn Realty Group
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