Detroit Multifamily Investment
1197 VIRGINIA PARK Street, Detroit, MI 48202
Apartments,Business And Real Estate - Detroit, MI
Property size:
16,546 SFLot size:
0.32 AcresPrice / SF:
$64/SF- Added:
- Mar 20, 2026
- Days on Market:
- 64
- Last Refresh:
- May 22 at 7:06 am
Property Features for 1197 VIRGINIA PARK Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- Commercial
- Standard status
- Active
- APN
- W06I001766S
- Size
- 16,546 SF
- Lot size
- 0.32 Acres
Taxes and HOA fees
- Tax Annual Amount
- 5518
Building Details
- Year built
- 1916
- Year renovated
- 2015
- Floors in Building
- 2
- Building materials
- Brick
- Roof type
- Shingle
- Architectural style
- Other
Listing agent James T Silver (248) 530-7292
Listing office Keller Williams Somerset 888 W Big Beaver Road #200, Troy, MI (248) 649-7200
Listing date Mar 20, 2026
MLS# 20261018059
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, near New Center, Henry Ford Hospital, Wayne State University, downtown Detroit, and QLine transit.
- Diverse unit mix maximizes rental income potential.
- Recent updates include freshly painted exterior and new gutters.
- Each unit features central air conditioning, newer furnaces, hot water tanks, updated appliances, and in‑unit washers and dryers.
- Turnkey property professionally managed for over 20 years with a new Occupancy Permit as of April 2026.
Overview
Located in Detroit’s Virginia Park neighborhood, this multifamily property presents an investment opportunity. The townhouse-style building contains nine units: six 2-bedroom units, two 5-bedroom units, and one 4-bedroom unit. All units are currently occupied. Each unit includes central air conditioning, newer furnaces, hot water tanks, updated appliances, and in-unit washers and dryers. Additional features include semi-finished basements, ADT alarm systems, and an exterior security camera system. Significant updates include a freshly painted exterior (2025) and new gutters (2025). Multiple units have been remodeled in 2024–2025. The property has been owned and 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 size is 16,546 square feet and sits on a 0.32-acre lot. New Occupancy Permit as of April 2026.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Detroit
- County
- Wayne
- State
- Michigan
- Longitude
- -83.0879131
- Latitude
- 42.3719339
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, near New Center, Henry Ford Hospital, Wayne State University, downtown Detroit, and QLine transit.; Diverse unit mix maximizes rental income potential.
