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Jim Blehm

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

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681 W Canfield St , Detroit, MI 48201
$1,000,000
Est. Payment: $2,222.22/mo
0 Bed
5 Bath
0 Sqft
Status: Active | Days on site: 36
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House Description

Rare opportunity to own a meticulously maintained four-unit multifamily property on Historic West Canfield in the heart of Midtown Detroit. Originally built in 1910, this beautifully preserved carriage house offers approximately 7,000 square feet and features four spacious two-bedroom apartments. Three of the four units include private in-unit laundry, while the fourth is served by a common laundry area. Also three of four units are occupied, generating income from day one. The property has benefited from extensive capital improvements, including a newer roof, gutters, tuckpointing, newer vinyl replacement windows, updated plumbing, separate gas and electric meters, and modern mechanical systems. A newly constructed secure fenced and gated parking lot provides approximately 10 off-street parking spaces—a rare amenity in Midtown. Current rents are below market, presenting an outstanding value-add opportunity for investors seeking immediate upside through future lease renewals. Ideally located just steps from Mad Nice, Selden Standard, SheWolf, Awake Cafe, Oak & Reel, Whole Foods Market, and the Detroit Institute of Arts, with convenient access to Wayne State University, Detroit Medical Center, Children's Hospital of Michigan, Henry Ford Health, the QLINE, I-75, I-94, and Downtown Detroit. A turnkey investment in one of Detroit's most desirable and walkable neighborhoods offering strong long-term appreciation potential. Do not miss out on this rare opportunity! 4230 3rd Street is included in the sale. This is the dedicated parking with 9 spaces that is supported by recorded easements and maintenance agreements, with documentation available upon request. Financial information, current rent roll and operating information available to qualified buyers upon request. Rental amounts reflected in the MLS are pro forma estimates only and are not representations of current or actual rental income. photos may be digitally enhanced, Information is deemed reliable, buyer to verify all information and data.

Highlights

Listed by Shane Parker , 734-333-7219 S&P Realty , 734-333-7219.

Property Type

Multi-Family

Lot/Acreage
0.1

Year Built

1910

County

Wayne

School District

Detroit

Listing ID

20261063150

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Interior Features

Bedrooms and Bathrooms
  • Bedrooms:0
  • Bathrooms:5
  • Full Bathrooms:
Basement:Slab
Water:Public

Exterior Features

Principal Interest
$2,222
Taxes
$330

Home Price

$1,000,000

Loan Details

30 yrs
%

Down Payment

20%
$200,000
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:
$2,222.22

Principal

Taxes

Principal Taxes HOA Total
Monthly $2,222.22 $330.00 $0.00 $2,552.22
Yearly $26,666.67 $3,960.00 $0.00 $30,626.67
Total $800,000.00 $118,800.00 $0.00 $918,800.00

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.