Four-Unit Multifamily Investment
16241 E 7 Mile Road, Detroit, MI 48205
For Sale
$230,000
Four-unit property in good condition, great investment opportunity.
Property SizeContact for details
Days on Market204
Property Features for 16241 E 7 Mile Road
General Information
Standard status
Property subtype
Site & Location
Neighborhood
Listing Agency:
Imagine Home Realty
(313) 456-9898
Listed By:
Gregory White · License MI #6501358183
Source:
Alexmi
Added: Apr 21
Changed: Nov 6
Last Checked: Nov 10 at 8:29AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Imagine Home Realty
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Investment Insights
Based on property information with market context.
This four-unit multifamily property presents an investment opportunity in a favorable location. Three of the four units are currently rented to long-term tenants and performing well. The fourth unit is in good condition and available for rent. The property is located in an area with a bike score of 41, indicating it is somewhat bikeable. The walk score is 44, suggesting car dependence, and the transit score is 41, indicating some transit options are available.
Key Highlights
- Four‑unit multi‑family property offers investment opportunity.
- Three of four units are currently rented with long‑term tenants.
- Fourth unit is in good condition and available for rent.
Property Analytics
Who owns this building?
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Open Analytics
Location Intelligence
Trade Area within ½ mile
464
Businesses Nearby
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Business Placement
Demographics for 48205, MI
34,056
Population
17,102
Households
2
Avg Household Size
32
Median Age
9%
College-Educated
85%
High-School Grad
6.4 sq mi
ZIP Area
5,321
Density / Sq Mi
$40,612
Median Household Income
$30,833
Median Earnings
$1,149
Median Rent
$55,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Quadplexes in Detroit, MI
Properties on Market for Quadplexes in Detroit
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit property in good condition, great investment opportunity.
Where is this quadplex located?
The property is located at 16241 E 7 Mile Road Detroit, MI.
What is the asking price?
The asking price for this property is $230,000.
What are key features of this property?
This property features: Four‑unit multi‑family property offers investment opportunity.; Three of four units are currently rented with long‑term tenants.; Fourth unit is in good condition and available for rent.
