Skip To Content

1055 Philip Street

Detroit, MI 48215
  • $749,900
  • STATUS: Active
  • ON SITE: 134 Days
  • ID#: 20230087771
UPDATED: 50 min ago
$749,900
  • 0
    BEDS
  • 0.15
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 11,949
    SQFT
  • $63
    $/SQFT
Type:
Commercial
Built:
1928
County:
Zoning:
Commercial
Lot Size Dimensions:
60.00 x 112.00

School Ratings & Info

School District:

Description

Purchasing the apartment building located at 1055 Philip Street, Detroit, presents a compelling investment opportunity. This property boasts 20 total units, consisting of 1 two-bedroom unit and 19 one-bedroom units, each currently renting at $700 per month. With 9 units already occupied, there is potential for immediate rental income while having 11 units available for increased revenue. The prospect of improving the unoccupied units through renovation offers the opportunity to significantly enhance their rental value. This property allows for a strong revenue stream and potential for capital appreciation, making it an attractive choice for investors looking to maximize their returns in Detroit's competitive rental market! BTVAI

Monthly Payment Calculator



IDX provided courtesy of Realcomp II Ltd. via Alan Brown Group and Realcomp II Ltd.. © 2024 Realcomp II Ltd. Shareholders. Real estate listings held by brokerages other than Alan Brown Group are marked with the Realcomp-approved IDX logo and are provided through IDX through Realcomp II Ltd. IDX information is provided exclusively for the consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Any use of search facilities of data on the site, other than by a consumer looking to purchase real estate, is prohibited. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. Data last updated: 2024-02-25T08:57:00.03.
www.alanbrowngroup.com/homes/144373269
Print Image

1055 Philip Street Detroit, MI 48215

  • Price: $749,900
  • Status: Active
  • On Site: 134 Days
  • Updated: 50 min ago
  • ID#: 20230087771
0
Beds
0
Baths
0
½ Baths
0.15
Acres
11,949
SQFT
$63
$/SQFT
1928
Built
Neighborhood:
Pointe View Joseph S Visger & Edgar J Hitchings
County:
Wayne
Area:
Det: Mcclellan East/Mack To Shor
School District:
DETROIT
Property Description
Purchasing the apartment building located at 1055 Philip Street, Detroit, presents a compelling investment opportunity. This property boasts 20 total units, consisting of 1 two-bedroom unit and 19 one-bedroom units, each currently renting at $700 per month. With 9 units already occupied, there is potential for immediate rental income while having 11 units available for increased revenue. The prospect of improving the unoccupied units through renovation offers the opportunity to significantly enhance their rental value. This property allows for a strong revenue stream and potential for capital appreciation, making it an attractive choice for investors looking to maximize their returns in Detroit's competitive rental market! BTVAI
Exterior Features

Architecture Level 3 Story Construction Materials Brick Foundation Details Basement Foundation Materials Block Lot Size Dimensions 60.00 x 112.00 Road Frontage Feet 60 Road Frontage Type Paved Waterfront YN No

Interior Features

Building Area Source Public Records Heating Cooling Forced Air Heating Fuel Natural Gas Sq Ft Main 11949 Unit Efficiency Number Of 0 Unit Four Bed Number Of 0 Unit One Bed Number Of 19 Unit Three Bed Number Of 0 Unit Two Bed Number Of 1 Water Heater Fuel Natural Gas

Property Features

Assessment 0.00 Commercial Type ApartmentsReal Estate Only Current Use Apartment Building Existing Lease YN Yes Gross Scheduled Income 109200.00 Inventory Included YN No Land Contract YN No Listing Financing CashConventional Monthly Sales 9100 Net Operating Income 0.00 Operating Expense 0.00 Ownership Status Short Sale - NoPrivate Owned Percent Leased 0 Possession At Close Postal City Detroit Protection Period 120 Settlement City Sewer Public Sewer (Sewer-Sanitary) Short Sale No Tax Amount Summer 2447.5500 Tax Amount Winter 295.6100 Title Standard (Private) Total Tax 2742.0000 Unparsed Address 1055 PHILIP Street Water Source Public (Municipal) Zoning Commercial

Realcomp IDX logo IDX provided courtesy of Realcomp II Ltd., via KW Professionals: (734) 459-4700 and Realcomp, ©2024 Realcomp II Ltd. Shareholders.


IDX provided courtesy of Realcomp II Ltd. via Alan Brown Group and Realcomp II Ltd.. © 2024 Realcomp II Ltd. Shareholders. Real estate listings held by brokerages other than Alan Brown Group are marked with the Realcomp-approved IDX logo and are provided through IDX through Realcomp II Ltd. IDX information is provided exclusively for the consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Any use of search facilities of data on the site, other than by a consumer looking to purchase real estate, is prohibited. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. Data last updated: 2024-02-25T08:57:00.03.
 
https://bt-photos.global.ssl.fastly.net/michigan/orig_boomver_1_590762135-2.jpg https://bt-photos.global.ssl.fastly.net/michigan/orig_boomver_1_590762135-2.jpg https://bt-photos.global.ssl.fastly.net/michigan/orig_boomver_1_590762135-2.jpg
Logo
Alan Brown Group
70 West Long Lake Rd
Troy MI, 48098