5183 PENNSYLVANIA Street Pending Save Request In-Person Tour Request Virtual Tour
Detroit,MI 48213 3829
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Pending
Purchase Type For Sale
Square Footage 3,534 sqft
Price per Sqft $99
Subdivision Mi
MLS Listing ID 60401817
Style 2 Story
Full Baths 4
Year Built 1925
Annual Tax Amount $61
Lot Size 4,356 Sqft
Acres 0.1
Lot Dimensions 35.00 x 129.00
Property Sub-Type Multi-Family
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 Detroit (82001)
Zoning Multi-Family
Interior
Heating Forced Air
Fireplace No
Exterior
Exterior Feature Brick
Building
Story 2 Story
Foundation Slab
Water Public Water
Structure Type Brick
Schools
School District Detroit City School District
Others
Ownership Private
Energy Description Natural Gas
Financing Cash,Conventional