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Jim Blehm

Team Owner, Realtor® | The Blehm Group | Keller Williams

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669 W Canfield St , Detroit, MI 48201
$1,450,000
Est. Payment: $3,222.22/mo
0 Bed
8 Bath
0 Sqft
Status: Active | Days on site: 24
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House Description

CANFIELD HISTORIC DISTRICT-Rare opportunity to own a historic Queen Anne property configured as a 4-unit investment property with 3 units in the main residence and 1 fully renovated Carriage House. The property offers existing rental income with additional value-add potential through the unfinished third-floor/attic unit that has approved architectural plans for an approximately 1,433 sq. ft. attic studio with a private balcony.Extensive improvements have been completed throughout the property, including leveling of the first and second floors, new subfloors and engineered hardwood flooring, wallpaper removal and wall restoration, Victorian-style chandeliers, renovated kitchen and baths, luxury primary ensuite with marbled porcelain tile, soaking tub, walk-in shower and double vanities, basement improvements with bonus room and epoxy flooring, sealed basement walls and asbestos removal.Additional improvements include all-new HVAC systems, furnaces and A/C units, complete ductwork replacement, updated electrical with new wiring and 200-amp panel, new electric meter and GFCI outlets, gas fireplace conversions, interconnected smoke and CO detectors, structural reinforcement with new supports, restored front porch, decorative tile installation and tuck-pointing. The fully modernized 1885 Carriage House features a kitchen, 1.5 baths, septic repair and wildlife mitigation.Additional features include a private driveway, spacious backyard and approved architectural plans for future attic development. Tax incentives include PRE and NEZ, with a PILOT (Payment in Lieu of Taxes) application submitted. When approved, the PILOT structure is expected to significantly reduce the property’s annual tax, with projected taxes of approximately $3,333 per year for the entire property. BAVAIExcellent opportunity for an investor seeking a historic 4-unit property with substantial improvements, existing income, and significant additional value-add potential.

Highlights

Listed by D'Asia P Taylor , 313-290-3716 Golden Key Realty Group LLC , 248-422-6962.

Property Type

Multi-Family

Lot/Acreage
0.22

HOA Fee

Year Built

1880

County

Wayne

School District

Detroit

Listing ID

20261064333

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Interior Features

Bedrooms and Bathrooms
  • Bedrooms:0
  • Bathrooms:8
  • Full Bathrooms:
Air Cond:Central Air
Fireplaces:
Water:Public

Exterior Features

Principal Interest
$3,222
Taxes
$2,523
HOA
$0

Home Price

$1,450,000

Loan Details

30 yrs
%

Down Payment

20%
$290,000
All calculations are estimates and provided by Blueroof360. Today’s Rates provided by Blueroof360. Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Monthly Price:
$3,222.22

Principal

Taxes

Principal Taxes HOA Total
Monthly $3,222.22 $2,523.42 $0.00 $5,745.64
Yearly $38,666.67 $30,281.00 $0.00 $68,947.67
Total $1,160,000.00 $908,430.00 $0.00 $2,068,430.00

Today's Rates

30 Year

0%

20 Year

0%

15 Year

0%

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Market insight data is pulled from the same city as the listing being viewed (Detroit, MI).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.