5907 IROQUOIS Street Active Save Request In-Person Tour Request Virtual Tour
Detroit,MI 48213
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
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