Properties for sale in Michigan

Overview

Description

Prime Southwest Detroit Investment Opportunity! This fully occupied 4-unit brick multifamily building offers strong, consistent rental income with a desirable mix of spacious 2- and 3-bedroom units. Each unit features both front and rear private entrances, adding convenience and tenant appeal, along with shared basement space for additional storage and functionality.Recent capital improvements include a newer roof, updated windows, and select mechanical upgrades, providing peace of mind and reduced maintenance costs for the next owner.Located in Southwest Detroit, this property benefits from strong rental demand, proximity to major thoroughfares, local dining, shopping, and employment hubs. Ideal for both seasoned investors and those expanding their multifamily portfolio, this income-producing asset delivers immediate cash flow.

Location Property Info

County: Wayne
Street #: 1094
Street Name: Waterman
Suffix: Street
State: MI
Zip Code: 48209
Zip (4): 4522

General Property Info

Lot Measurement: Acres
Lot Square Footage: 6098
Lot Acres: 0.14
Lot Dimensions: 40x157
Year Built: 1925
New Construction: No
Road Frontage: 40
Total # Units: 4
# of Diff Unit Floor Plans: 2
Total # Bldgs: Yes
Total Parking Spaces: 6
Waterfront: No
School District: Detroit
Basement: Yes

Tax Info

Tax ID #: 18008121.
Taxable Value: 7547
SEV: 76600
For Tax Year: 2025
Seller's Annual Property Tax: 7547
Tax Year: 2025
Spec Assessment & Ty: no
Homestead %: 0

Access Feat

Accessibility Features: No

Unit 1

Unit #: Yes
Unit Description: Lower left
Occupied: Yes
Monthly Rent: 1100
Bathrooms: Yes
Full Baths: Yes

More Information

Unit 2

Unit #: 2
Unit Description: Lower right
Occupied: Yes
Monthly Rent: 950
Bathrooms: Yes
Full Baths: Yes

Unit 3

Unit #: 3
Unit Description: Upper left
Occupied: Yes
Monthly Rent: 1100
Bathrooms: Yes
Full Baths: Yes

Unit 4

Unit #: 4
Unit Description: Upper right
Occupied: Yes
Monthly Rent: 950
Bathrooms: Yes
Full Baths: Yes

Location & Property Info

Cross Streets: Waterman and Lafayette
Property Sub-Type: 2 to 4 Units
Municipality: Detroit City

Office/Contract Info

Auction or For Sale: For Sale

Remarks & Misc

Public Remarks: Prime Southwest Detroit Investment Opportunity! This fully occupied 4-unit brick multifamily building offers strong, consistent rental income with a desirable mix of spacious 2- and 3-bedroom units. Each unit features both front and rear private entrances, adding convenience and tenant appeal, along with shared basement space for additional storage and functionality.Recent capital improvements include a newer roof, updated windows, and select mechanical upgrades, providing peace of mind and reduced maintenance costs for the next owner.Located in Southwest Detroit, this property benefits from strong rental demand, proximity to major thoroughfares, local dining, shopping, and employment hubs. Ideal for both seasoned investors and those expanding their multifamily portfolio, this income-producing asset delivers immediate cash flow.
Legal: E WATERMAN 15 S 10 FT 14 KAIERS SUB L28 P78 PLATS, W C R 18/265 40 X 157.50

Street Type

Paved: Yes
Public: Yes

Util Avail at Street

Cable Available: Yes
Electricity Available: Yes
High Speed Internet: Yes
Natural Gas Available: Yes
Public Sewer: Yes
Public Water: Yes

Utilities Attached

Electricity Connected: Yes
Natural Gas Connected: Yes

Sewer

Public Sewer: Yes

Water

Public Water: Yes

Terms Available

Cash: Yes
Conventional: Yes
Land Contract: Yes

Laundry Features

In Basement: Yes

Exterior Material

Brick: Yes

Heat Source

Natural Gas: Yes

Sale Conditions

None: Yes

Heat Type

Forced Air: Yes

Tenant Pays

Electric: Yes
Gas: Yes
Sewer: Yes
Water: Yes

Substructure

Full: Yes

Owner Pays

Trash Collection: Yes

Possession

Close Of Escrow: Yes

Property Features

Laundry Features: In Basement Exterior Material: Brick Substructure: Full Sewer: Public Sewer Water: Public Water Utilities Attached: Electricity Connected; Natural Gas Connected Util Avail at Street: Cable Available; Electricity Available; High Speed Internet; Natural Gas Available; Public Sewer; Public Water Owner Pays: Trash Collection Tenant Pays: Electric; Gas; Sewer; Water Heat Source: Natural Gas Heat Type: Forced Air Street Type: Paved; Public Terms Available: Cash; Conventional; Land Contract Possession: Close Of Escrow Sale Conditions: None

1094 Waterman Street, Detroit, MI 48209