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    1163 Virginia Park St Detroit, MI 48202

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    For Sale
    $339,900

    Renovated triplex in Virginia Park near Detroit's Cultural Center.

    Lot size:
    0.16 Acres

    Property Features for 1163 Virginia Park St

    General Information

    Lot size
    0.16 Acres

    Building Details

    Year built
    1914

    Source: O'Connor Realty Detroit, LLC Agent Johanna Walker

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Renovated Triplex Near Cultural Center

    This renovated triplex is located in Virginia Park, near Detroit's Cultural Center. The property features a blend of modern amenities and classic charm. The building contains three units. The first two floors each contain a three-bedroom, one-bathroom unit with spacious bedrooms and living spaces. The third floor is a one-bedroom unit with a kitchen and full bathroom. Units include wood flooring, original built-ins, brand-new stainless steel appliances, and in-unit laundry. The rear of the property offers space that can be used as free parking. The first floor is currently vacant and available for showings. The second and third levels are occupied. The property is located within walking distance of local restaurants, grocery stores, Henry Ford Hospital, and DMC hospitals. The property is being sold as 1163-1165 Virginia Park. The property is suitable for professionals or those seeking proximity to local amenities. The annual income is projected to increase to $45,540 per year once the first floor is leased. The property is considered low-maintenance.
    Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Detroit
    County
    Wayne
    State
    Michigan
    Longitude
    -83.0873164
    Latitude
    42.3721514

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    FAQs

    What type of property is this?
    Triplex - Renovated triplex in Virginia Park near Detroit's Cultural Center.
    Where is this triplex located?
    The property is located at 1163 Virginia Park St Detroit, MI.
    What is the asking price?
    The asking price for this property is $339,900.
    What are key features of this property?
    This property features: - High income potential: $45,540 annual income once fully leased.; - Prime location: Walking distance to Detroit's Cultural Center, restaurants, grocery stores, and major hospitals (Henry Ford and DMC).; - Three-unit investment property with modern amenities and classic charm.
    (248) 767-1194
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1163 Virginia Park St Detroit, MI 48202
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