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Jim Blehm

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

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516 Neff Lane Ln , Grosse Pointe, MI 48230
$3,995,000
Est. Payment: $8,877.78/mo
0 Bed
20 Bath
0 Sqft
Status: Pending | Days on site: 168
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House Description

Exceptional opportunity to acquire a well-located 20-unit multifamily asset in the heart of Grosse Pointe, one of Metro Detroit’s most desirable and supply-constrained rental markets. This stabilized community offers immediate cash flow with significant upside through continued rent growth and value-add execution.The property features a strong unit mix with spacious floor plans, well-maintained interiors, and a history of high occupancy. Current ownership has completed substantial capital improvements in recent years, including renovations to a portion of the units, allowing a new owner to continue implementing a proven renovation and rent-increase strategy.Situated in a premier residential setting near the waterfront, top-rated schools, retail, dining, and major employment corridors, the property benefits from consistent tenant demand and long-term market stability. Grosse Pointe’s limited multifamily inventory and strong demographic profile create a compelling environment for sustained rental growth and asset appreciation.With in-place income, professional management history, and clear value-add potential, this offering is ideal for investors seeking a stabilized asset with both immediate yield and long-term upside in a premier suburban market.

Highlights

Listed by Mackenzie Laforest , 734-210-3789 Pinnacle Plus Realty LLC , 248-893-7795.

Property Type

Multi-Family

Lot/Acreage
0.97

Year Built

1972

County

Wayne

Neighborhood

Grosse Pointe City

School District

Grosse Pointe

Listing ID

20261004006

Questions about this listing?

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Interior Features

Bedrooms and Bathrooms
  • Bedrooms:0
  • Bathrooms:20
  • Full Bathrooms:
Air Cond:Central Air
Fireplaces:
Water:Public

Exterior Features

Lot:Cul-De-Sac
Principal Interest
$8,878
Taxes
$3,671

Home Price

$3,995,000

Loan Details

30 yrs
%

Down Payment

20%
$799,000
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Monthly Price:
$8,877.78

Principal

Taxes

Principal Taxes HOA Total
Monthly $8,877.78 $3,671.00 $0.00 $12,548.78
Yearly $106,533.33 $44,052.00 $0.00 $150,585.33
Total $3,196,000.00 $1,321,560.00 $0.00 $4,517,560.00

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 (Grosse Pointe, 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.