2017 BURLINGAME Street Active Save Request In-Person Tour Request Virtual Tour
Detroit,MI 48206
Key Details
Property Type Multi-Family
Sub Type Cape Cod,Common Entry Building
Listing Status Active
Purchase Type For Sale
Square Footage 7,884 sqft
Price per Sqft $98
Subdivision Oakman & Stoll
MLS Listing ID 20240091921
Style Cape Cod,Common Entry Building
Bedrooms 10
Full Baths 10
Year Built 1948
Annual Tax Amount $3,135
Lot Size 0.270 Acres
Property Description
Prime Multifamily Investment Opportunity in Detroit! Discover the potential of 2017 Burlingame Street, a high upside value add 10-unit multifamily property with timeless charm and modern upgrades, offering a high upside in the desirable Boston Edison District. Spanning at almost 8,000 sq. ft., this brick-and-block property features 7 one-bedroom and 3 two-bedroom units, with potential monthly rental income of $9,500 and projected net annual income of $84,000. Recent updates include 3 new boilers, upgraded roof, upgraded windows, fresh paint, new flooring in 4 units, and updated kitchen counters and vanities. The property also includes new appliances (to be installed), a full basement with storage and laundry facilities, and parking for 20 vehicles. With 3 units already leased through Section 8, generating immediate income, and owner-paid utilities costing just $760/month, this property is an outstanding investment. Financing options include cash, conventional, or a land contract with a $350,000 down payment at a 7.5% interest rate. Don't miss this exceptional opportunity—schedule your showing today!
Location
State MI
County Wayne
Area Det: Livernois-I75 6-Gd River
Zoning Commercial,Multi-Family
Interior
Hot Water Common,Natural Gas
Heating Hot Water,Other,Radiant
Cooling Window Unit(s)
Laundry 1
Exterior
Exterior Feature Awning/Overhang(s),Chimney Cap(s),Lighting,Permeable Paving,Private Entry,Fenced
Garage Spaces 20.0
Roof Type Asphalt
Building
Foundation Basement
Sewer Public Sewer (Sewer-Sanitary)
Water Public (Municipal)
Structure Type Block/Concrete/Masonry,Brick
Schools
School District Detroit
Others
Assessment Amount $100
Acceptable Financing Cash,Contract,Conventional
Listing Terms Cash,Contract,Conventional