9-Unit Brick Asset | East Detroit / Grosse Pointe Park Border
Acquire at a Detroit basis with immediate Grosse Pointe Park demand. Located on a prominent hard corner (Vernor Hwy & Ashland St), this durable 1925 brick building offers a mid-repositioning opportunity with reliable cash flow and clear upside.
Key Investment Highlights
Fully Occupied: Stable, turn-key income in place today (6 of 9 units are Section 8).
Prime Border Location: High visibility, strong traffic counts, and spillover demand from neighboring Grosse Pointe Park.
Value-Add Upside: Mid-repositioning asset with significant opportunity to mark rents to market on turnover.
Favorable Terms: Located in FEMA Flood Zone X (lower insurance costs, cleaner financing).
Strategic Access: Minutes from Mack Ave retail, Alter Rd, and Downtown Detroit.
East-side corridor assets this close to the Pointes move quickly.
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Principal & interest
$1,547
Mortgage insurance
$0
Property taxes
$170
Home insurance
$105
HOA fees
$0
Utilities
Not included
All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
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