2017 Burlingame St
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2017 Burlingame St
10 Unit Block of Flats £613,861 (£61,386/Unit) 10.86% Net Initial Yield Detroit, MI 48206
Investment Highlights
- Boston Edison District
- 10 Units
- Value-Add
Executive Summary
Discover the potential of 2017 Burlingame Street, a high upside value add 10-unit multifamily property in the desirable Boston Edison District. Spanning 7,884 sq. ft. this brick and block building combines timeless charm with modern upgrades. The property features 7 one-bedroom units and 3 two-bedroom units, potentially generating a monthly rental income of $9,500 with utilities included, and a projected net annual income of $84,000. Key features include a full basement with storage, laundry facilities, newer boiler, upgrades to nits, windows roof and many other upgrades. Ample parking for 20 vehicles. Financing options include cash, conventional, or a land contract with a $350,000 down payment and a 7.5% interest rate. Don’t miss this exceptional investment opportunity—schedule your showing today!
Property Facts
| Price | £613,861 | Building Class | B |
| Price Per Unit | £61,386 | Lot Size | 0.27 AC |
| Sale Type | Investment | Building Size | 7,630 SF |
| Net Initial Yield | 10.86% | Average Occupancy | 100% |
| No. Units | 10 | Number of Floors | 2 |
| Property Type | Residential | Year Built/Renovated | 1948/2022 |
| Property Subtype | Apartment | Parking Ratio | 2.62/1,000 SF |
| Price | £613,861 |
| Price Per Unit | £61,386 |
| Sale Type | Investment |
| Net Initial Yield | 10.86% |
| No. Units | 10 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Building Class | B |
| Lot Size | 0.27 AC |
| Building Size | 7,630 SF |
| Average Occupancy | 100% |
| Number of Floors | 2 |
| Year Built/Renovated | 1948/2022 |
| Parking Ratio | 2.62/1,000 SF |
Amenities
- Smoke Detector
Unit Amenities
- Heating
- Kitchen
- Refrigerator
- Oven
- Basement
- Dining Room
- Handrails
Site Amenities
- Fenced Lot
- Laundry Facilities
- Property Manager on Site
- Wi-Fi
- Maintenance on site
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 1+1 | 7 | - | - |
| 2+1 | 3 | - | - |
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PROPERTY TAXES
| Parcel Number | 08-00337-694 | Improvements Assessment | £0 |
| Land Assessment | £0 | Total Assessment | £207,129 |
PROPERTY TAXES
Parcel Number
08-00337-694
Land Assessment
£0
Improvements Assessment
£0
Total Assessment
£207,129
zoning
| Zoning Code | R5 (Commercial Multi-Family) |
| R5 (Commercial Multi-Family) |
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2017 Burlingame St
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