17165 Gore St Detroit, MI 48219
- Apartment buildings
- 1,976 SF
- 0.24 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 17165 Gore St
- Year built
- 1926
- Lot size
- 0.24 lot acres
- Property size
- 1,976 SF
- Property type
- Apartment buildings
Description
This turnkey, 2-unit apartment building in Detroit, MI presents a compelling investment opportunity. Built in 1926 and extensively renovated in 2024, this property boasts 1,976 square feet situated on a 0.24-acre lot. The building features two spacious, 2-bedroom units, each with an open floor plan, updated kitchen and bathroom, hardwood floors, and basement access. Modern updates include forced-air heating, updated 100-amp circuit breaker panels, vinyl windows, and PEX and PVC plumbing. The property's strong pro-forma NOI of $28,800 translates to a compelling 22.17% cap rate, with each unit projected to rent for $1,100-$1,200. Conveniently located near Redford Township and major shopping centers, this Class C multifamily property offers a stabilized, turnkey investment with significant potential for cash flow. The asking price is $129,900, or $64,950 per unit. The property is zoned for multi-family use and has a Wayne County APN of W22I118091S. This is a rare find in Northwest Detroit, ideal for both seasoned investors and those starting their real estate journey. The property is privately owned.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Detroit
- County
- Wayne
- State
- Michigan
- Longitude
- -83.2658
- Latitude
- 42.4158
