5183 PENNSYLVANIA STREET
Detroit, MI 48213
3534 sqft | 4 baths | 0.10 acres | #20240087709
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.
Property Details
- SubdivisionALBERT HESSELBACHER & JOSEPH S VISGERS (PLATS)
- Parking FeaturesTwoCarGarage
- Property TypeMulti-Family
- Sewer InformationPublicSewer
- MLS #20240087709
- Property SubtypeMultiFamily
- Parcel NumberW19I005904S
- MLS #20240087709
- Original List Price$399,000
- School DistrictDetroit
- Parking TypeGarage
- Utility SourcePublic
- Cost349900
- CountyWayne
- Square Feet3534
- Year Built1925
- FoundationSlab
- PetsCall
- Acres0.1
- Days on Market (Cumulative)136
- Taxes Annual$61
- Bathrooms4
- Full Baths4
- Stories2
- Parking Spaces2
Location
Legal
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Last Updated: . Source: REALCOMP
Listing Courtesy
Listing Agent: Elijah Cook (#417241), Email: ecooktherealtor@gmail.com
Listing Office: KW Metro (#338536)
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