Homes for sale - 5907 IROQUOIS Street, Detroit, MI 48213

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David Lamarand

dave@metrodetroitdave.com +1(313) 622-0239

$ 450,000

Est. payment -/mo

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5907 IROQUOIS Street Detroit, MI 48213

4 Beds

4.5 Baths

4,680 SqFt

UPDATED:

11/15/2024 10:02 AM

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

Listed by LaKisha M Dansby of KW Metro

David Lamarand

Agent | License ID: 420941

+1(313) 622-0239

David Lamarand

5907 IROQUOIS Street Detroit, MI 48213

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

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5907 IROQUOIS Street