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$1,290,000
Est. payment /mo
8,831 SqFt
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 8,831 sqft
Price per Sqft $146
MLS Listing ID 20250024379
Year Built 1964
Annual Tax Amount $19,675
Lot Size 10,890 Sqft
Acres 0.25
Lot Dimensions 92.00 x 120.00
Source Realcomp
Property Description
MID-CENTURY IN THE CITY! Sellers have made an extensive investment into renovations, making this recently remodeled 15-unit Palmer Park GEM a prime income-generating property. 303 Covington consistently earns top-dollar rental income, with most units already updated or in the final stages of renovation—tenant-ready within the month.Recent upgrades include a new boiler (2022), all new electrical service panels, dozens of replaced thermal windows, new in-unit ACs, and numerous interior improvements throughout each unit. This property has been a reliable income producer for decades and has undergone several thoughtful restorations, making it highly desirable for long-term, consistent occupancy.Tenants enjoy a shared courtyard and laundry room, secure fencing, illuminated walkways, front and rear entrances, and first-come, first-served parking.Rent rolls and expense reports available upon request. Don't miss this incredible investment opportunity in one of Detroit's most historic and revitalized neighborhoods!
Location
State MI
County Wayne
Area Wayne County - 100
Zoning Commercial,Multi-Family
Direction Take Woodward To subject property
Exterior
View Y/N No
Building
Foundation Slab
Sewer Public
Water Public
Structure Type Brick
Schools
School District Detroit
Others
Tax ID W02I002606S002L
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Listed by Keller Williams Realty-Great Lakes
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Nick Schweihofer
Team Leader, Broker | License ID: 6506047709
Team Leader, Broker License ID: 6506047709
REVIEWS
- Nick did an awesome job in helping us find and purchase our condo. He listened to our wants and identified options and in the end we found a good fit for our needs for a vacation home Since we are far from Holland Nick set up a couple video tours to reduce travel. Thanks Nick for all the hard work and insight. We are very excited about our new home!Gordon L
- Nick was awesome to work with! I just went through the process of purchasing my first home and Nick couldn’t have made it any easier. He is super knowledgeable about the industry and the area. He answered all my questions and made sure to point out things I may not be thinking of since it was my first time going through the process. He was attentive, super responsive, easy to talk to, and truly cares about finding his clients a home they’ll love! I’m looking forward to working with him again in the future and would definitely recommend him as an agent!Emily Rzeszutko
- Nick was amazing to work with! This was my first time buying a house. Nick was very patient and took the time to walk me through everything and address all my questions. He was always quick to respond. He was clearly knowledgeable about the area and was great at pointing out and educating me on issues to watch for as we walked through houses. I absolutely recommend Nick to anyone buying or selling a home, and look forward to working with him again in the future!Kayla Kocal
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