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1055 Philip St Detroit, MI 48215

For Sale
$900,000

20-unit building near Grosse Pointe Park and Jefferson Chalmers.

Lot size:
0.15 Acres

Property Features for 1055 Philip St

General Information

Lot size
0.15 Acres

Building Details

Year built
1928

Source: Saturn Realty Group Agent Okeish Y Davis

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


Overview

Multifamily Investment Opportunity in Detroit

The property at 1055 Philip St is a 20-unit multifamily investment opportunity situated between Grosse Pointe Park and Jefferson Chalmers. The building features a newer front roof and individually metered units for tenant-paid utilities. Each unit is equipped with wall furnaces, and an existing radiator system offers an alternative heating option. Tenants have access to a shared downstairs storage area, which presents an opportunity for additional revenue. A bus station is located steps away on E Jefferson Ave, providing convenient access to public transportation and a 12-minute commute to Downtown Detroit. The property is strategically positioned near major development, including the $45 million Schaap Center for the Performing Arts expansion in Grosse Pointe Park. This property offers strong cash flow, upside potential, and a prime location within Detroit's east-side resurgence.
Insight Report Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

Location Insight

  • Map
  • Local Demand
City
Detroit
County
Wayne
State
Michigan
Longitude
-82.943024
Latitude
42.3744069

FAQs

What type of property is this?
Apartment building - 20-unit building near Grosse Pointe Park and Jefferson Chalmers.
Where is this apartment building located?
The property is located at 1055 Philip St Detroit, MI.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: - Prime location between Grosse Pointe Park and Jefferson Chalmers, near major development.; - Strong cash flow and upside potential in Detroit's east-side resurgence.; - Individually metered units for tenant-paid utilities.
More about this property
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