MI > Detroit > Stephens Elm Pk (Plats)
Detroit, MI 48213,5907 IROQUOIS Street
Detroit, MI 48213,5907 IROQUOIS Street
Detroit, MI 48213,5907 IROQUOIS Street
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$450,000
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4 BD
4.5 BA
4,680 SqFt
Active

5907 IROQUOIS Street Detroit, MI 48213

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David Elwood

David Elwood

+1(248) 568-5958

UPDATED:

11/20/2024 02:07 AM

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

Realcomp MLS
©2024 Realcomp II Ltd. Shareholders
Listed by LaKisha M Dansby of KW Metro

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David Elwood

Broker Associate | License ID: 6506045662

+1(248) 568-5958

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5907 IROQUOIS Street