2017 BURLINGAME ST Active Save Request In-Person Tour Request Virtual Tour
Detroit,MI 48206
$ 695000
- Bed
10 Baths
7984 SqFt
Key Details
Property Type Multi-Family
Sub Type MultiFamily
Listing Status Active
Purchase Type For Rent
Square Footage 7,984 sqft
Subdivision Oakman & Stoll
MLS Listing ID 20251019737
Style CapeCod,CommonEntryBuilding
Full Baths 10
Year Built 1948
Property Sub-Type MultiFamily
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 Area05043Detlivernoisi756Gdriver
Interior
Heating HotWater, OtherHeatingSource, Radiant
Cooling WindowUnits
Laundry CommonArea, GasDryerHookup, LaundryRoom, WasherHookup
Exterior
Exterior Feature Awnings, ChimneyCaps, Lighting, PermeablePaving, PrivateEntrance
Parking Features Lighted,OffSite,OnStreet,Paved,Unassigned
Fence Fenced, FencingAllowed, FrontYard
Pool None
Community Features Sidewalks
Utilities Available AboveGroundUtilities, CableAvailable
View Y/N No
Roof Type Asphalt
Building
Foundation Basement, Block
Sewer PublicSewer
Water Public
Schools
School District Detroit
Others
Acceptable Financing Cash, Contract, Conventional, WarrantyDeed
Listing Terms Cash, Contract, Conventional, WarrantyDeed
Special Listing Condition ShortSaleNo, Standard