Back to Search

Detroit Multifamily Investment Opportunity

1197 VIRGINIA PARK Street Detroit, MI 48202

1197 VIRGINIA PARK Street, Detroit, MI, 48202

$1,075,000

Pending

For Sale

$1,075,000

Pending

MULTI_FAMILY - Detroit, MI

Property Size11,100 SF

Lot Size0.32 Acres

AddedApr 3

Days on Market104

Last RefreshJul 15 at 8:06 pm

Property Features for 1197 VIRGINIA PARK Street

General Information

Property type: Residential Multi Family
Property subtype: Other
Zoning: Commercial
Bedrooms: 24
Bathrooms: 10
Rooms: Bedroom 11, Bedroom 13, Bedroom 10, Bedroom 23, Bedroom 12, Bedroom 20, Bedroom 16, Bedroom 8, Bedroom 9, Bedroom 19, Bedroom 14, Bedroom 21, Bathroom 3, Basement, Bedroom 17, Bathroom 4, Bathroom 6, Bathroom 1, Bedroom 5, Bathroom 5, Bedroom 2, Bathroom 10, Bedroom 1, Bathroom 7, Bedroom 24, Bedroom 6, Bedroom 15, Bathroom 9, Bathroom 2, Bathroom 8, Bedroom 18, Bedroom 7, Bedroom 4, Bedroom 22, Bedroom 3
Pets allowed: Call
Exterior features: Private Entry
Standard status: Pending
APN: W06I001766S
Size: 11,100 SF
Lot size: 0.32 Acres

Taxes and HOA fees

Tax Description: S VIRGINIA PARK 24-25 VIRGINIA PARK SUB L28 P80 PLATS, W C R 6/125 80 IRREG
Tax Annual Amount: 5518

Utilities

Heating system: Forced Air
Water source: Public

Building Details

Year built: 1916
Floors in Building: 2
Number of units: 9
Building materials: Brick
Roof type: Shingle
Architectural style: Other

Listing agent James T Silver License #6502374648

Listing office Keller Williams Somerset 888 W Big Beaver Road #200, Troy, MI

Listing date Apr 3, 2026

MLS# 20261017989 Listing URL

Investment Insights

Based on property information with market context.

Located in Detroit's Virginia Park neighborhood, this well-maintained 9-unit townhouse-style multifamily property presents an investment opportunity within an Opportunity Zone. The property, situated in the New Center area, features a unit mix including six 2-bedroom units, two 5-bedroom units, and one 4-bedroom unit. All units are currently occupied and were renovated in 2015, with two units renovated within the past two years featuring new kitchens. Updates include a freshly painted exterior and new gutters, both completed in 2025. Several units have been remodeled between 2024 and 2025. Each unit includes central air conditioning, newer furnaces, hot water tanks, and updated appliances. Additionally, each unit is equipped with a washer and dryer supplied by the owner, semi-finished basements, ADT alarm systems, and an exterior security camera system. The property has been professionally managed for over 20 years. The property is located near Henry Ford Hospital, Wayne State University, downtown Detroit, QLine transit, and major freeways. The property has an estimated total finished area of 16,546 square feet, which includes basements each with own baths. The lot size is 0.32 acres. A new occupancy permit, effective as of April 2026, is valid until April 23, 2029. All leases are for one year, with one Section 8 tenant. All tenants are employed, except for the Section 8 tenant. All leases are up for renewal within a year if tenants decide to renew.

Key Highlights

Fully occupied 9‑unit townhouse‑style multifamily property providing immediate cash flow.
Located in Detroit's desirable Virginia Park neighborhood within an Opportunity Zone and near New Center, Henry Ford Hospital, Wayne State University, downtown Detroit, QLine transit, and major freeways.
Diverse unit mix maximizes rental income potential.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Similar For Sale Nearby

$344,900

4,468 SF

Turnkey Auto Repair Shop

Turnkey automotive service center with multiple roll-up doors, hydraulic lifts, and a fenced yard for repair and storage operations.

13118 Gratiot Avenue, Detroit, MI 48205

View Details
$975,000

2,100 SF

Rail-Served Heavy Industrial Yard

Fenced and gated rail-access yard suited to logistics operations in Detroit’s M-4 heavy industrial corridor.

175 S Campbell Street, Detroit, MI 48209

View Details
$239,900

8,000 SF

Turnkey Dry Cleaning Facility

For sale turnkey dry-cleaning operation with approximately 8,000+ square feet of commercial space on a small lot.

2854 E 7 Mile Road, Detroit, MI 48234

View Details
$200,000

3,900 SF

Turnkey Office Building with Suites

Newly renovated office building offers nine private suites plus an open-concept area with two restrooms and a kitchen.

14750 Puritan Avenue, Detroit, MI 48227

View Details
$999,999

9,000 SF

Fully Renovated 18-Unit Apartment Building

An 18-unit brick multifamily property offering renovated 1- and 2-bedroom units with current occupancy for immediate income potential.

13233 La Salle Boulevard, Detroit, MI 48238

View Details
$174,000

2,000 SF

Retail Storefront with Salon Buildout

Former nail salon with office, multiple wash stations, and ample parking for a service-focused retail use.

8235 W 8 Mile Road, Detroit, MI 48221

View Details
$279,900

3,100 SF

Flex Warehouse with Built-In Office Studio

Fully renovated flex space with roll-up access and a built-out podcast studio for flexible distribution and content use.

16813 WYOMING Street, Detroit, MI 48221

View Details
$725,000

5,832 SF

Detroit Multifamily Investment Opportunity

Turnkey 8-unit property in desirable Detroit neighborhood.

13660 Ohio Street, Detroit, MI 48238

View Details
$500,000

10,222 SF

Detroit Multifamily Investment Opportunity

16-unit apartment building with value-add potential in Detroit.

10400 Whittier Street, Detroit, MI 48224

View Details
$749,900

5,874 SF

Mixed-Use Building with Storefronts

Five-unit style mixed-use building includes three storefronts and two upper apartments, with a ready-to-operate restaurant space.

14318 E Jefferson Avenue, Detroit, MI 48215

View Details
$2,999,999

16,860 SF

Six-Property Multifamily Portfolio

Six multifamily buildings sold together, including one fully renovated and occupied unit with five others prepared for redevelopment.

18036 SCHOENHERR Street, Detroit, MI 48205

View Details
$2,999,999

6,702 SF

Multifamily Portfolio for Sale

Six multifamily properties are offered together, with one fully renovated and occupied and five in cleared, secured condition.

18029 SCHOENHERR Street, Detroit, MI 48205

View Details

For sale
Apartment buildings
MI
Detroit
48202
1197 VIRGINIA PARK Street

What type of property is this?

Apartment building - Well-maintained 9-unit property in desirable Virginia Park neighborhood.

Where is this apartment building located?

The property is located at 1197 VIRGINIA PARK Street Detroit, MI.

What is the asking price?

The asking price for this property is $1,075,000.

What are key features of this property?

This property features: Fully occupied 9‑unit townhouse‑style multifamily property providing immediate cash flow.; Located in Detroit's desirable Virginia Park neighborhood within an Opportunity Zone and near New Center, Henry Ford Hospital, Wayne State University, downtown Detroit, QLine transit, and major freeways.; Diverse unit mix maximizes rental income potential.

1197 VIRGINIA PARK Street Detroit, MI 48202

MULTI_FAMILY - Detroit, MI

Property Features for 1197 VIRGINIA PARK Street

General Information

Taxes and HOA fees

Utilities

Building Details

Investment Insights

Key Highlights

Property Analytics

Current Use by Public Records

Suggested Use

Similar For Sale Nearby

Turnkey Auto Repair Shop

Rail-Served Heavy Industrial Yard

Turnkey Dry Cleaning Facility

Turnkey Office Building with Suites

Fully Renovated 18-Unit Apartment Building

Retail Storefront with Salon Buildout

Flex Warehouse with Built-In Office Studio

Detroit Multifamily Investment Opportunity

Detroit Multifamily Investment Opportunity

Mixed-Use Building with Storefronts

Six-Property Multifamily Portfolio

Multifamily Portfolio for Sale

FAQs