7403 Midland ST Detroit, MI 48238
UPDATED:
Key Details
Property Type Multi-Family
Sub Type MultiFamily
Listing Status Active
Purchase Type For Sale
Square Footage 6,014 sqft
Price per Sqft $58
Subdivision Mulberry Hill 1
MLS Listing ID 20251044413
Style Other
Full Baths 8
Year Built 1928
Lot Size 4,791 Sqft
Acres 0.11
Property Sub-Type MultiFamily
Property Description
Discover this rare multi-family property just steps from the University of Detroit Mercy and less than a mile from the Avenue of Fashion. Each of the eight units features two bedrooms and one bathroom, providing strong rental potential in one of Detroit's most sought-after and revitalizing areas. The building features a newer roof, new electrical and plumbing systems, some recessed lighting already installed, as well as common area fixtures, newer bathrooms in most of the units, and kitchen renovations already started with new flooring—so much of the heavy lifting has already been completed. Each unit is separately metered for gas and electricity, allowing residents to pay their own utilities. To complete the project, only HVAC systems, hot water tanks, and cosmetic finishes remain. Once completed, this property is projected to generate an estimated 20%+ cap rate(at $1200/month rents), making it an outstanding income-producing investment.
Located near Marygrove Conservancy, Ella Fitzgerald Park, and the Livernois-McNichols corridor, the neighborhood continues to benefit from major reinvestment through new streetscapes, parks, and local business development. Residents enjoy easy access to major freeways, shopping, dining, nightlife, and entertainment, with quick commutes to Downtown Detroit, Midtown, and nearby employment centers. All measurements and data are estimated.
Location
State MI
County Wayne
Area Area05042Det6Tiregrnfldlivernois
Rooms
Basement Unfinished
Interior
Heating ForcedAir, NaturalGas
Fireplace No
Exterior
Exterior Feature Lighting, PrivateEntrance
Pool None
View Y/N No
Garage false
Building
Foundation Basement, Block
Sewer PublicSewer
Water Public
New Construction No
Schools
High Schools Detroit
School District Detroit
Others
Senior Community false
Acceptable Financing Cash, Contract, Conventional, Trade1031Exchange, WarrantyDeed
Listing Terms Cash, Contract, Conventional, Trade1031Exchange, WarrantyDeed
Special Listing Condition ShortSaleNo, Standard
Pets Allowed Call
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