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1561 W Grand Boulevard #1

Detroit, Michigan 48208
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$349,900 $1,475/Mo
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Bed 4

Bed

Bath 3.5

Bath

SqFt2,662

Sqft

Acres0.12

Acre(Lot)

Turnkey, fully renovated triplex offering immediate income potential and attractive investment metrics in one of Detroit's rapidly improving neighborhoods. Located just minutes from Downtown Detroit, New Center, Henry Ford Hospital, Wayne State University, and major freeway access, this multifamily property is ideally positioned for both strong rental demand and long-term appreciation. All three units have been extensively updated with modern finishes, including renovated kitchens featuring quartz countertops, updated cabinetry, and beautifully remodeled bathrooms with quartz surfaces and contemporary fixtures. Investors will appreciate the significant capital improvements already completed, reducing near-term maintenance expenses and enhancing tenant appeal. The property is projected to generate approximately $3,300 per month ($39,600 annually) in gross rental income, with the second-floor unit currently leased at $1,200 per month. The first-floor unit is projected at $1,300 per month and the third-floor unit at $800 per month, providing immediate upside through lease-up of the remaining units. With a projected gross rent multiplier under 9 and estimated cap rate approaching 7%, this property presents a compelling opportunity for investors seeking cash flow, appreciation potential, and a renovated asset requiring minimal additional investment. Whether adding to an established portfolio or entering the multifamily market, this property checks all the boxes for today's investor. Rare opportunity to acquire a fully renovated triplex with strong income potential, modern finishes, and an unbeatable location near Detroit's largest employment, medical, and educational centers. Buyer and Buyer's Agent to verify all information. BATVAI.

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Detail Ic Property Details

Property Type : Multifamily

Price : $349,900

AD Id : 79840254

MLS Id : 20261038699

Beds : 4

Lot Size : 0.12 Acre

Living Area Size : 2,662

Year Built : 1912

County : Wayne

Subdivision: Parsons & Gaylords Addition

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Map

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Feature Features

  • Bathroom Information

    Total Baths: 3.5 Full Baths: 3 Half Baths: 1

  • Interior Features

    Basement Description: Unfinished

  • Heating & Cooling

    Heating: Forced Air Heating Fuel: Natural Gas

  • Building Information

    Year Built: 1912 Building Stories: 3 Story Total Units: 3 Foundation/Basement: Basement Architecture: Triplex

  • Exterior Features

    Construction: Brick

  • Utility Features

    Sewer: Sewer (Sewer-Sanitary)

  • Water

    Public (Municipal)

  • Lot Information

    Lot Size: 0.12 Lot Dimensions: 40X125

  • Property Information

    SQ ft: 2662 Subdivision: Bela Hubbards Sub Financing: Cash,Conventional

  • Listing Price Information

    Original List Price: $349,900

  • Listing Information

    Possession: At Close Legal Description: PROPERTY EXEMPT FROM AD VALOREM TAXES AND ASSESSED ON THE SPECIAL ACT ROLL PURSUANT TO PA 261 OF 2003 EXPIRING 12/30/2025. W-W GRAND BLVD S 30 FT 20 N 10 FT 21 BLK 13 BELA HUBBARDS SUB L13 P5 PLATS, W C R 14/76 40 X 125

  • Tax Information

    Annual Tax: $1,563 Parcel Number: W14I008158S

  • Possession

    At Close

  • Legal Information

    Legal Description: Section: PROPERTY EXEMPT FROM AD VALOREM TAXES AND ASSESSED ON THE SPECIAL ACT ROLL PURSUANT TO PA 261 OF 2003 EXPIRING 12/30/2025. W-W GRAND BLVD S 30 FT 20 N 10 FT 21 BLK 13 BELA HUBBARDS SUB L13 P5 PLATS, W C R 14/76 40 X 125

  • Unit 2 Information

    # of Bedrooms: 2

  • School Information

    School District: Detroit

  • Utility Information

    Water: Public (Municipal) Sewer: Sewer (Sewer-Sanitary)
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Nearby Home Value

Address Estimate Bed Bath Sq. Ft Lot Size
3714 23rd Street , Detroit, MI, 48208 $425,000 4 2 2,512 2,512 SqFt
4110-4114 Trumbull Stre.., Detroit, MI, 48208 $1,280,000 7 6.5 4,950 4,950 SqFt
3320 14th Street , Detroit, MI, 48208 $250,000 7 3.5 3,208 3,208 SqFt
3737 Scovel Place , Detroit, MI, 48208 $900,000 1 -- --
1565 W Grand Boulevard , Detroit, MI, 48208 $300,000 8 3.5 3,640 3,640 SqFt
1569 W Grand Boulevard , Detroit, MI, 48208 $40,000 4 2.5 2,872 2,872 SqFt

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Disclosure: The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. Any use of search facilities of data on the site, other than by a consumer looking to purchase real estate, is prohibited. IDX provided courtesy of Realcomp II Ltd., via ByOwner.com and REALCOMP, Copyright 2026 Realcomp II Ltd. Shareholders. REALTOR (R) licensed in the state of Michigan. The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed and to participants of any data share partner MLS.

ByOwner last updated this listing 06/18/2026 @ 23:26

MLS: 20261038699 LISTED BY: Paul Mychalowych , EXP Realty Birmingham 248-686-0024 SOURCE: Realcomp II Ltd

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