5907 IROQUOIS Street new Save Request In-Person Tour Request Virtual Tour
Detroit,MI 48213
Key Details
Property Type Multi-Family
Sub Type Colonial
Listing Status Active
Purchase Type For Sale
Square Footage 4,680 sqft
Price per Sqft $96
Subdivision Stephens Elm Pk (Plats)
MLS Listing ID 20240085916
Style Colonial
Bedrooms 4
Full Baths 4
Half Baths 1
Originating Board Realcomp II Ltd
Year Built 1923
Annual Tax Amount $7,555
Lot Size 6,534 Sqft
Acres 0.15
Lot Dimensions 60.00 x 110.00
Property Description
Discover a prime investment opportunity with this four-unit multifamily property located at 5907 Iroquois Street in Detroit. The building comprises three spacious three-bedroom units and one two-bedroom unit, offering a versatile portfolio for potential investors. Current Rental Income: • Unit 1: Three bedrooms, rented at $1,650/month • Unit 2: Three bedrooms, rented at $1,650/month • Unit 3: Two bedrooms, rented at $950/month • Unit 4: Three bedrooms, currently vacant With one unit available, there’s immediate potential to increase revenue by leasing the vacant space. Property Highlights: • Total of 11 bedrooms and 4 bathrooms across all units • Each unit features a comfortable layout suitable for various tenant needs • • Conveniently located near I-94, providing easy access to downtown Detroit, just a 10-minute drive away ? This property presents an excellent opportunity for both seasoned investors and those new to real estate investment. The combination of occupied units generating steady income and a vacant unit ready for occupancy makes this a compelling addition to any portfolio. Financial Overview: • Current monthly rental income: $4,250 • Potential monthly rental income (fully occupied): $5,900 • Annual gross income potential: $70,800 Don’t miss out on this chance to invest in a property with substantial income potential in a prime Detroit location. Contact us today to schedule a viewing or for more information.
Location
State MI
County Wayne
Area Det: 6-Mack I75-Conner
Zoning Multi-Family
Direction Gratiot Ave to E Warren to Iroquois
Rooms
Basement Unfinished
Interior
Heating Hot Water
Fireplace no
Heat Source Natural Gas
Exterior
Waterfront no
Road Frontage Paved
Garage no
Building
Foundation Basement
Sewer Public Sewer (Sewer-Sanitary)
Water Public (Municipal)
Architectural Style Colonial
Level or Stories 2 Story
Structure Type Aluminum,Brick
Schools
School District Detroit
Others
Pets Allowed No
Tax ID W17I007335S
Ownership Short Sale - No,Private Owned
Assessment Amount $340
Acceptable Financing Cash,Conventional
Listing Terms Cash,Conventional
Financing Cash,Conventional