16241 E 7 Mile Road Detroit, MI ^$ 230,000

16241 E 7 Mile Road

^$ 230,000

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Recently Listed

16241 E 7 Mile Road

Detroit, MI, 48205

^$ 230,000

Studio 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.

Multi-Family Active

Price

^$ 230,000

Bedrooms

Studio

Full Bath

Half Bath

Property Type

Multi-Family

Taxes

^$ 6,511

Style

Lot Size

0.12

Year Built

1954

Town/City

Detroit

County/Region

Wayne

MLS | Web ID

60985505

Features

General

Heating Hot Water

Possession At Close

Water Public Water

Status Active Active

Full Baths 2

Half Baths 1

Bathrooms 3

Year Built 1954

Subdivision Avalon Heights MI

County Wayne

Class MULTIFAMILY

Type Multi-Family

Net Income 19800

Ownership Private

Municipality Detroit

Zoning Multi-Family

Sale/Rent For Sale

Status Detail 0

Structure Style 2 Story

Area Detroit (82001)

Primary City Detroit

Directions 7 and Kelly

City Detroit

School District Detroit City School District

Financial Terms Cash Conventional

Legal Description 21021327. 1 L S MADDELEIN 704 AVALON HEIGHTS SUB L49 P100 PLATS W C R 21/789 40 IRREG

DOM 1

Postal Code 48205

Price Per Sq Ft Total AG 90.34

Public Remarks 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

Interior

Basement Block

Fireplace? No

Total Number of Units 4

Fuel Type Natural Gas

Exterior

Exterior Brick

Frontage 60

Lot Size Area 0.12

Lot Dimensions 60x100

Roads Paved Street

Waterfront Y/N No

* Excluded Features

List By

Gregory White

Listing Agent

Imagine Home Realty

Broker

gwhite@imaginehomerealty.com

Affordability Calculator

$1,959

Per Month

Monthly Principal & Interest: $1,416
Monthly Property Taxes: $543
Monthly Home Insurance: --

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Interest Rate

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Yearly 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

Trends
Schools

Multi-family listings in Detroit, MI

Average List Price ^$260,939

Percent of Sale Price 13%

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
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

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: 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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16241 E 7 Mile Road

Multi-Family Home for sale in Detroit, MI

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