2017 Burlingame St

Detroit MI 48206

7984 sq. ft.

0.27 ac.

Multi-Family

Currently for sale - view listing

Overview

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!

Features

10 bathrooms

20 carspaces

7984 sq. ft. floor area

0.27 ac. lot size

Multi-Family

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