1541 Elm Street Detroit, MI $ 1,000,000
1541 Elm Street
$ 1,000,000
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1541 Elm Street

Detroit, MI, 48216
$ 1,000,000
Baths4.0 Sq 4,000

Monthly Estimate*

$ 6,157

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Studio

Multi-Family Home for sale in Detroit, MI

for $1,000,000 with 4 full baths. This 4,000 square foot home was built in 2026 on a lot size of 0.11.

Exceptional NEW CONSTRUCTION 4-Unit Multifamily investment opportunity in North Corktown with Certificate of Occupancy issued March 23, 2026. Located in the Heart of Downtown Detroit, This turnkey multi-family property features 4 identical units, each offering 2 bedrooms, 1 full bath, spacious living area, full kitchen with quartz countertops, gas, laundry hookups, central air conditioning, and private entry. With approximately 4,000 total sq ft, this newly built asset was designed for efficient, low-maintenance ownership. Each unit includes heavy-duty security doors, smart locks, and smart thermostats, while the property also offers 24-hour surveillance cameras and a rear parking lot with 8 spaces. Tax Exemption in place until 2033. Projected gross monthly income of approximately $12,000. Rare opportunity for local and out-of-state investors seeking a newly constructed, easy-to-manage asset in one of Detroit’s fastest-growing neighborhoods.

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Multi-Family Active

Price

$ 1,000,000

Bedrooms

Studio

Full Bath

4

Property Type

Multi-Family

Taxes

$ 38

Style

Quadruplex

Lot Size

0.11

Year Built

2026

Town/City

Detroit

County/Region

Wayne

MLS | Web ID

20261016823

Features
Interior
Interior Amenities DualFlushToilets ENERGYSTARQualifiedDoors ENERGYSTARQualifiedLightFixtures HighSpeedInternet ProgrammableThermostat
Basement (Y/N) N
Air Conditioning Y/N Y
Heating Y/N Y
Window Features EnergyStarQualifiedWindows
Fireplace Y/N N
Above Grade Finished Area 4000.0
Half Baths 0
Laundry Features InUnit
Above Grade Finished Area Unit Type SquareFeet
Total Baths 4
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General
Sewer PublicSewer
Heating ForcedAir NaturalGas
Cooling CentralAir
Utilities AboveGroundUtilities CableAvailable
Possession AtClose
Roof Asphalt
Garage Spaces 0.0
Patio/Porch Features Covered Porch
Architectural Style Other Quadruplex
Pool Features None
Construction Materials AluminumSiding VinylSiding
Pets Allowed CatsOk DogsOk
Year Built 2026
Levels Two
Property Subtype MultiFamily
County Wayne
Net Operating Income 144000.0
New Construction N
Property Type ResidentialIncome
HOA N
Attached Garage N
Subdivision Name MC KEOWNS SUB
Garage Y/N N
Full Baths 4
Status Active
Directions Trumbul/Martin Luther King Jr S of Martin Luther King JR / W of Trumbul
City DetroitCity_Wayne
Disclosures ProjectedIncome TaxesNotHomesteadExempt
Senior Community Y/N N
High School District Detroit
Zoning Description MultiFamily Residential
Number Of Units Total 4
MLS Area Area05053DetWoodwardMcclellanSoMack
Lot Size Units Acres
Carport Y/N N
Number of Units Leased 0
Land Lease Y/N N
Tax Annual Amount 38.0
Home Warranty Y/N N
Lease Renewal Y/N N
Additional Parcels Y/N N
Lease Considered Y/N N
Rent Control Y/N N
Standard Status Active
Occupancy Type Vacant
Tax Assessed Value 515
Expected Active Date 2026-03-23
Legal Description PROPERTY EXEMPT FROM AD VALOREM TAXES AND ASSESSED ON THE SPECIAL ACT ROLL PURSUANT TO PA 261 OF 2003 EXPIRING 12/30/2028. S ELM 92 MC KEOWNS SUB L3 P50 PLATS W C R 8/43 40 X 115
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Exterior
Parking Features ParkingLot
Water Source Public
Total Parking 8.0
Foundation Details CrawlSpace
Spa N
Lot Dimensions 40X115
Lot Size Acres 0.11
Waterfront Y/N N
Road Frontage Type Paved
Crops Included Y/N N
Horse Y/N N
Irrigation Water Rights Y/N N
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Internal Only
Street Number 1 1541
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* Excluded Features
List By
Briyana Jordan

Listing Agent

Keller Williams Paint Creek

Broker

(616) 469-7164

Phone

Affordability Calculator

$6,160
Per Month
100%
0%
0%
Monthly Principal & Interest
$6,157
Monthly Property Taxes
$3
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.25% 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
848539 Elementary School
848135 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
3/23/2026$1,000,000 Listed Price

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1541 Elm Street, Detroit, MI, 48216 is a Multi-Family Home for sale at $1,000,000 with 4,000 sqft and a lot size of 0.11. 1541 Elm Street is a studio with 4.0 baths and was built in 2026. The property's zip code is 48216 which is in Detroit, MI