Four-Unit Multifamily Investment
For Sale
$230,000
16241 E 7 Mile Rd, Detroit, MI 48205
Four-unit property in good condition, great investment opportunity.
Property SizeContact for details
Days on Market108
Property Features for 16241 E 7 Mile Rd
General Information
Standard status
Active
Property subtype
Investment
Building Details
Year Built
1954
Listing Agency:
(313) 456-9898
Listed By:
Gregory White
(313) 456-9898
Source:
Elliman
Added: Apr 21
Changed: Jul 10
Last Checked: Aug 6 at 6:31AM
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 Gregory White
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
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
201
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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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 Rd 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.
