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$ 399,000
Est. payment /mo
Price Dropped by $26K
7430 Alaska Detroit, MI 48204
8 Baths
5,160 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 5,160 sqft
Price per Sqft $77
MLS Listing ID 11898263
Full Baths 8
Year Built 1926
Annual Tax Amount $15,000
Lot Size 4,356 Sqft
Property Description
Exceptional opportunity to acquire a fully renovated 8-unit multifamily asset with immediate cash flow and additional value-add potential. Extensive capital improvements have significantly reduced future maintenance expenses, including renovated unit interiors, updated plumbing, 56 new windows, six new furnaces, six new water heaters, renovated common areas, and exterior improvements. Each unit features updated kitchens, bathrooms, flooring, doors, fixtures, and appliances, providing a turnkey investment with strong tenant appeal and the ability to attract and retain quality residents. Investors can further increase NOI by activating the currently unused basement space for coin-operated laundry and tenant storage, creating additional income streams with minimal capital investment. Located just two blocks from the Joe Louis Greenway and only 10-15 minutes from Downtown Detroit, Midtown, and major employers and retailers, the property benefits from a highly accessible location that supports long-term rental demand. With substantial recent renovations already completed and built-in upside through ancillary income opportunities, this asset offers an attractive combination of stabilized cash flow, reduced capital expenditure risk, and future revenue growth.
Location
State MI
County Wayne County
Rooms
Basement Full
Dining Room 0
Kitchen 0
Building
Story 2
Sewer Municipal
Water Municipal