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$ 1,075,000
Est. payment /mo
Pending
1197 VIRGINIA PARK Street Detroit, MI 48202
16,546 SqFt
UPDATED:
Key Details
Property Type Commercial
Listing Status Pending
Purchase Type For Sale
Square Footage 16,546 sqft
Price per Sqft $64
MLS Listing ID 20261018059
Year Built 1916
Annual Tax Amount $5,518
Lot Size 0.320 Acres
Acres 0.32
Lot Dimensions 80.00X172.00
Source Realcomp
Property Description
Excellent investment opportunity in Detroit's desirable Virginia Park neighborhood, located within an Opportunity Zone! This well-maintained 9-unit townhouse-style multifamily property in the New Center area offers strong rental potential and long-term upside.The building features a diverse unit mix including six 2-bedroom units, two spacious 5-bedroom units, and one 4-bedroom unit—ideal for maximizing rental income. All units are currently occupied, providing immediate cash flow. All of the units were renovated in 2015 with 2 being renovated within 2 years with new kitchens.Significant updates include a freshly painted exterior (2025) and brand-new gutters (2025). Multiple units have been remodeled in 2024–2025, enhancing overall appeal and value. Each unit is equipped with central air conditioning, newer furnaces, hot water tanks, and updated appliances. Washer and dryer in each unit supplied by owner. Additional features include semi-finished basements, ADT alarm systems, and an exterior security camera system.Owned and professionally managed for over 20 years, this property reflects consistent care and attention. Conveniently located near Henry Ford Hospital, Wayne State University, downtown Detroit, QLine transit, and major freeways, making it highly attractive to tenants.Turnkey, fully occupied, and positioned in a high-demand area—this is a rare opportunity to add a solid performing asset to your portfolio. 16,546 Est Tot Fin: includes basements each with own baths. New Occupancy Permit as of April 2026 is good until 4/23/29. “All the leases are (1) year and (1) Section 8 tenant.All tenants are employed except the (1) Section 8.No notices to vacate. All leases renew within a year if they decide to renew
Location
State MI
County Wayne
Zoning Commercial
Direction See Map
Rooms
Basement Basement
Interior
Heating Forced Air
Exterior
View Y/N No
Building
Foundation Brick/Mortar
Water Public
Structure Type Brick
Schools
School District Detroit
Others
Tax ID W06I001766S
Virtual Tour https://unbranded.visithome.ai/SEuBtWGTXdh9gxK4zoLWus?mu=ft&t=1775569532
Listed by Keller Williams Somerset
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