2017 Burlingame Street presents a prime multifamily investment opportunity in Detroit! Discover the potential of a high-upside, value-add 10-unit multifamily property with timeless charm and modern upgrades, offering a high upside in the desirable Boston Edison District. Spanning almost 8,000 square feet, this brick-and-block property features seven one-bedroom and three two-bedroom units, with a potential monthly rental income of $9,500 and a projected net annual income of $84,000.
Recent updates include three new boilers, an upgraded roof, upgraded windows, fresh paint, new flooring in four units, and updated kitchen counters and vanities. The property also includes new appliances (to be installed), a full basement with storage and laundry facilities, and parking for 20 vehicles.
This property is an outstanding investment. Three units are already leased through Section 8, generating immediate income, and owner-paid utilities cost just $760/month. Financing options include cash, conventional, or a land contract with a $350,000 down payment at a 7.5% interest rate. Don’t miss this exceptional opportunity—schedule your showing today!
Invest in a property that offers both financial rewards and a connection to one of Atlanta's most beloved neighborhoods.