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$3,995,000
Est. payment /mo
20 Baths
0.97 Acres Lot
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Pending
Purchase Type For Sale
Municipality Grosse Pointe City
Subdivision Grosse Pointe City
MLS Listing ID 20261004006
Year Built 1972
Annual Tax Amount $44,052
Lot Size 0.970 Acres
Acres 0.97
Lot Dimensions 114.20 x 437.00
Source Realcomp
Property Description
Exceptional opportunity to acquire a well-located 20-unit multifamily asset in the heart of Grosse Pointe, one of Metro Detroit's most desirable and supply-constrained rental markets. This stabilized community offers immediate cash flow with significant upside through continued rent growth and value-add execution.The property features a strong unit mix with spacious floor plans, well-maintained interiors, and a history of high occupancy. Current ownership has completed substantial capital improvements in recent years, including renovations to a portion of the units, allowing a new owner to continue implementing a proven renovation and rent-increase strategy.Situated in a premier residential setting near the waterfront, top-rated schools, retail, dining, and major employment corridors, the property benefits from consistent tenant demand and long-term market stability. Grosse Pointe's limited multifamily inventory and strong demographic profile create a compelling environment for sustained rental growth and asset appreciation.With in-place income, professional management history, and clear value-add potential, this offering is ideal for investors seeking a stabilized asset with both immediate yield and long-term upside in a premier suburban market.
Location
State MI
County Wayne
Zoning Multi-Family
Direction South on Neff Rd west on st.paul.
Interior
Heating Forced Air
Cooling Central Air
Exterior
View Y/N No
Handicap Access No Step Entrance
Building
Lot Description Cul-De-Sac
Water Public
Structure Type Brick
Schools
School District Grosse Pointe
Others
Tax ID 37004990009000
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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Listed by Pinnacle Plus Realty LLC
Nearby School & Business
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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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