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16241 E 7 Mile Road Detroit, MI $ 230,000
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$ 230,000 Get more info
16241 E 7 Mile Road
$ 230,000
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16241 E 7 Mile Road

Detroit, MI, 48205
$ 230,000
Baths2.1 Sq 2,546

Monthly Estimate*

$ 1,416

16241 E 7 Mile Road, Detroit, MI 48205 - Image 1
Studio

Multi-Family Home for sale in Detroit, MI

for $230,000 with 2 full baths, 1 half bath. This 2,546 square foot home was built in 1954 on a lot size of 0.12.

Here's a great opportunity to jump into the multi-family investment market for a great price in a good location! This 4-unit property is in great overall shape; three of the four units are rented with long-time tenants and perform well. The fourth unit is in good condition and up for rent as well. Seller also owns and has listed 19161Kelly and is willing to sell the two together on a discount. Seller will give a discount if you buy both buildings.

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Multi-Family Active

Price

$ 230,000

Bedrooms

Studio

Full Bath

2

Half Bath

1

Property Type

Multi-Family

Taxes

$ 6,511

Style

Traditional

Lot Size

0.12

Year Built

1954

Town/City

Detroit

County/Region

Wayne

MLS | Web ID

20261026758
Features
General
Sewer PublicSewer
Heating HotWater NaturalGas
Possession AtClose
Garage Spaces 0.0
Architectural Style Traditional
Pool Features None
Construction Materials Brick
Pets Allowed CatsOk DogsOk
Year Built 1954
Levels Two
Property Subtype MultiFamily
County Wayne
Net Operating Income 19800.0
Operating Expense 9000.0
New Construction N
Property Type ResidentialIncome
HOA N
Attached Garage N
Subdivision Name AVALON HEIGHTS
Garage Y/N N
Full Baths 2
Status Active
Directions 7 and Kelly
City DetroitCity_Wayne
Disclosures ActualIncome NoRestrictions TaxesNotHomesteadExempt
Senior Community Y/N N
High School District Detroit
Zoning Description MultiFamily
Number Of Units Total 4
MLS Area Area05054Det8ToGratiotHoustonTo7
Lot Size Units Acres
Carport Y/N N
Number of Units Leased 3
Land Lease Y/N N
Tax Annual Amount 6511.0
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 Tenant
Tax Assessed Value 57700
Expected Active Date 2026-04-20
Legal Description 21021327. 1 L S MADDELEIN 704 AVALON HEIGHTS SUB L49 P100 PLATS W C R 21/789 40 IRREG
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Interior
Basement Unfinished
Basement (Y/N) Y
Air Conditioning Y/N N
Heating Y/N Y
Fireplace Y/N N
Above Grade Finished Area 2546.0
Half Baths 1
Above Grade Finished Area Unit Type SquareFeet
Total Baths 3
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Exterior
Water Source Public
Foundation Details Basement Block
Spa N
Lot Dimensions 60x100
Lot Size Acres 0.12
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 16241
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* Excluded Features
List By
Gregory White

Listing Agent

Imagine Home Realty

Broker

(313) 456-9898

Phone

Affordability Calculator

$1,959
Per Month
72%
28%
0%
Monthly Principal & Interest
$1,416
Monthly Property Taxes
$543
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
See complete school information
Pricing History
DatePricePrice ChangeDescription
4/20/2026$230,000 Listed Price

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16241 E 7 Mile Road, Detroit, MI, 48205 is a Multi-Family Home for sale at $230,000 with 2,546 sqft and a lot size of 0.12. 16241 E 7 Mile Road is a studio with 2.1 baths and was built in 1954. The property's zip code is 48205 which is in Detroit, MI

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