506 Westminster Street Detroit, MI ^$ 499,000

506 Westminster Street

^$ 499,000

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Recently Listed

506 Westminster Street

Detroit, MI, 48202

^$ 499,000

Studio Baths0.0

Monthly Estimate*

^$ 3,486

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Studio

Multi-Family Home for sale in Detroit, MI

for $499,000. This home was built in 1910 on a lot size of 0.13.

3/4 occupied. Nestled in Detroit's North End neighborhood, this fully leased quadplex is the perfect purchase for a savvy investor. Building received gut renovation in 2017. All 3 bed, 1 bath units have new plumbing, electrical, HVAC, Flooring, roofing, etc. Each unit has a dishwasher Washer dryer and storage in basement. Includes 2 gated off street parking. With a gross annual income of $58,080, this property is the perfect purchase for a savvy investor. Less than 10 minute drive to downtown Detroit, and a 5 minute drive to midtown, this investment opportunity is uniquely rare and one to take advantage of. Newly renovated quadplexes in the most desired neighborhoods in Detroit are moving quickly.

Multi-Family Active

Price

^$ 499,000

Bedrooms

Studio

Property Type

Multi-Family

Taxes

^$ 1,348

Style

Lot Size

0.13

Year Built

1910

Town/City

Detroit

County/Region

Wayne

MLS | Web ID

70403441

Features

General

Heating Forced Air

Cooling None

Possession Subject To Tenant Rights

Water Public Water

Status Active Active

Year Built 1910

County Wayne

Class MULTIFAMILY

Type Multi-Family

Municipality Detroit

Subdivision MI

Area Detroit (82001)

Primary City Detroit

Directions Brush St and Westminster

City Detroit

School District Detroit City School District

Street Name Westminster

Financial Terms Cash Conventional

Legal Description S WESTMINSTER W 50 FT OF E 70 FT 34 HOUGHS L12 P49 PLATS W C R 3/117 50 X 115 EXCEPT THE N 10 FT TAKEN FOR ALLEY

DOM 22

Postal Code 48202

Coming Soon 3/4 occupied. Nestled in Detroit's North End neighborhood this fully leased quadplex is the perfect purchase for a savvy investor. Building received gut renovation in 2017. All 3 bed

Exterior

Exterior Brick

Frontage 115

Lot Size Area 0.13

Lot Dimensions 50 x 115

Roads City/County Paved Street

Waterfront Y/N No

Interior

Total Number of Units 4

Fuel Type Natural Gas

* Excluded Features

List By

Ishma Best

Listing Agent

Prep Realty

Broker

ishma@prepsold.com

Affordability Calculator

$3,598

Per Month

Monthly Principal & Interest: $3,486
Monthly Property Taxes: $112
Monthly Home Insurance: --

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Yearly Home Insurance

Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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Nearby

Trends
Schools

Multi-family listings in Detroit, MI

Average List Price ^$222,786

Percent of Sale Price 55%

About Detroit, MI

633,657 Population

-33% Since 2002

^$26,977 Median Income

36.23 Median Age

26% Households with Children

View more area information

Trends Information provided by ATTOM Data Solutions.

759604 Elementary School

760475 Middle School

Unknown High School High School

See complete school information

Pricing History

Date	Price	Price Change	Description
5/1/2024	$499,000		Listed Price

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506 Westminster Street, Detroit, MI, 48202 is a Multi-Family Home for sale at $499,000 with a lot size of 0.13. 506 Westminster Street is a studio with 0.0 baths and was built in 1910. The property's zip code is 48202 which is in Detroit, MI

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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506 Westminster Street

Multi-Family Home for sale in Detroit, MI

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