1645 Taylor St Detroit, MI 48206

Property Details for 1645 Taylor St

Year built

1916

Lot size

0.09 lot acres

Property size

2,668 SF

Property type

Commercial real estate

APN

W08I002575S

Description

This exceptional Class A, multifamily investment property, located at 1645 Taylor St, Detroit, MI 48206, presents a compelling opportunity. The 2-unit apartment building, totaling 2,668 square feet, boasts a 100% occupancy rate with strong rental income. Each unit offers 1,274 square feet of living space, featuring 3 bedrooms, 1 bathroom, a spacious living room, dining room, and a modern kitchen with white shaker cabinets, butcher block countertops, and stainless steel appliances. Bathrooms are updated with new tile and fixtures. Significant renovations completed in 2024 include a new roof, windows, plumbing, wiring, heating system, and on-demand water heaters. Beautiful refinished hardwood floors add to the charm. The upper unit rents for $1,700/month through August 31, 2025, and the lower unit for $1,400/month through September 30, 2025. A small one-car garage is located in the rear. Utilities are separately metered (gas, electric), with water on a single meter. The property sits on a 0.09-acre lot and is zoned residential. The building features a covered front porch and an upper unit balcony. This prime location is less than a quarter-mile from The Congregation and near New Center. The property offers a 7.01% cap rate and a $24,180 NOI. Built in 1916, this meticulously renovated property benefits from the significant development planned for the rapidly growing La Salle Gardens/Virginia Park neighborhoods, with over $3.5 billion in projects slated for the next five years. The asking price is $345,000 ($172,500 per unit). APN: W08I002575S.

Location Insight

City

Detroit

County

Wayne

State

Michigan

Longitude

-83.0967985

Latitude

42.3762378