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    Property profile & analytics
    OFF-MARKET
    Residential income homes

    7406 Oakland Ave Detroit, MI 48211

    2,262 SF Built 1910
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    Property summary
    AI-generated overview

    This 2,262 square foot multifamily property, built in 1910, is a fantastic investment opportunity located at 7406 Oakland Ave, Detroit, MI 48211. Currently operating as a four-unit rental property, it offers a mix of studio, one-bedroom, and two-bedroom units, maximizing income potential. The property boasts recently completed renovations, including full unit remodels with granite countertops, new appliances, updated bathrooms, and new flooring throughout. Significant upgrades also include new furnaces, plumbing, roof, and hot water tanks. Individual gas and electric meters ensure tenants pay their own utilities, while water, lawn care, and snow removal are included in the rent. The property is currently fully rented, with one unit becoming vacant on November 30th, allowing for easy showing. Rental income is strong, with leases ranging from month-to-month to August 31st, 2024. Unit 1 (lease expires 8/31/24) rents for $950/month

    Property profile
    Verified
    Property type Residential income homes
    Year built 1910
    Total area 2,262 SF
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Current use
    Occupant on record · Public records
    • Isalis (Bike/Boat/Book/etc) Store
    • Party City Party Supply Store (Bike/Boat/Book/etc) Store
    • Skunk Funk Big Box & Wholesale Store
    • Carl's Trading Co Hat Shop
    • Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store
    5 occupants on record
    Value estimations
    Realmo proprietary · 4 methods
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    Owner & transaction history
    Owner on record
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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