Detroit Multifamily Investment
1197 VIRGINIA PARK Street, Detroit, MI 48202
- Added:
- Apr 3, 2026
- Days on Market:
- 59
- Last Refresh:
- May 31 at 9:06 am
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 21, Bathroom 3, Bedroom 13, Bedroom 7, Bathroom 1, Bedroom 1, Bedroom 23, Bathroom 7, Bathroom 8, Bedroom 16, Bedroom 5, Bathroom 4, Bedroom 9, Bathroom 6, Bedroom 24, Bedroom 10, Bathroom 2, Bedroom 6, Bedroom 17, Bathroom 10, Bathroom 5, Bedroom 4, Bedroom 15, Bedroom 14, Bedroom 20, Bedroom 22, Bedroom 19, Bedroom 18, Bedroom 3, Bedroom 11, Bedroom 2, Bedroom 8, Bedroom 12, Bathroom 9, Basement
- 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 (248) 649-7200
Listing office Keller Williams Somerset 888 W Big Beaver Road #200, Troy, MI (248) 649-7200
Listing date Apr 3, 2026
MLS# 20261017989
Listing URL
Copyright © 2026 Realcomp Limited II. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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.
- Recent renovations (2015‑2025) including remodeled units, freshly painted exterior, new gutters, newer furnaces, hot water tanks, and updated appliances.
- Each unit features central air conditioning, washer and dryer, semi‑finished basements with baths, and ADT alarm systems.
- Professionally managed for over 20 years with exterior security camera system and new occupancy permit good until 4/23/29.
Overview
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.
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Detroit
- County
- Wayne
- State
- Michigan
- Longitude
- -83.087894
- Latitude
- 42.371934
Nearby Similar for Sale
FAQs
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.
