5183 PENNSYLVANIA Street Save Request In-Person Tour Request Virtual Tour
Detroit,MI 48213
Key Details
Property Type Multi-Family
Sub Type Colonial
Listing Status Accepting Backup Offers
Purchase Type For Sale
Square Footage 3,534 sqft
Price per Sqft $99
Subdivision Albert Hesselbacher & Joseph S Visgers (Plats)
MLS Listing ID 20240087709
Style Colonial
Bedrooms 4
Full Baths 4
Year Built 1925
Annual Tax Amount $61
Lot Size 4,356 Sqft
Property Sub-Type Colonial
Property Description
Discover this beautifully updated four-family flat that blends classic Detroit characters with modern upgrades. Each unit has been thoughtfully renovated, featuring sleek contemporary kitchens, stainless steel appliances, updated bathrooms, and sun-drenched living spaces that feel like home.
Appraised well over asking at $420,000
Monthly Gross Rent: $3,975
($1,025 + $950 + $950 + $1,050)
Water: $1,100/year
Taxes: Under $1,000/year
Maintenance: Estimated $1,000/year
Current Net Operating Income (NOI): ~$44,900
Current CAP Rate: ~10.7%
Each unit is separately metered, tenants pay their own gas and electric, and there's off-street parking, a shared backyard, and strong curb appeal that's rare to find at this level of finish.
Upside Potential? Rents are solid now but under the market for updated 2-bed units in the area. With strategic rent increases over time or short-term rental opportunities, your cash flow could go from good to great.
Whether you're an investor looking to grow your portfolio or a savvy buyer ready to live in one unit and let the others pay the mortgage — this one checks every box.
Location
State MI
County Wayne
Area Det: 6-Mack I75-Conner
Zoning Multi-Family
Interior
Heating Forced Air
Exterior
Garage Spaces 2.0
Building
Foundation Slab
Sewer Public Sewer (Sewer-Sanitary)
Water Public (Municipal)
Structure Type Brick
Schools
School District Detroit
Others
Acceptable Financing Cash,Conventional
Listing Terms Cash,Conventional