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2017 Burlingame St
Detroit, MI 48206
Multifamily Property For Sale
·
10 Units
Investment Highlights
- 2017 Burlingame Street is a 10-unit multifamily building with three units leased under Section 8 and the remaining ready to be occupied.
- Recent upgrades include a new roof, boilers, paint, flooring, and more.
- Nestled in the Boston Edison District with a land contract available.
- Site amenities include property management, maintenance, and laundry facilities on-site.
Executive Summary
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.
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.
Property Facts
| Price Per Unit | $95,739 CAD | Building Class | B |
| Sale Type | Investment | Lot Size | 0.27 AC |
| Cap Rate | 12.02% | Building Size | 7,830 SF |
| No. Units | 10 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1948 |
| Apartment Style | Mid-Rise | Parking Ratio | 2.55/1,000 SF |
| Zoning | R5 - Commercial Multi-Family | ||
| Price Per Unit | $95,739 CAD |
| Sale Type | Investment |
| Cap Rate | 12.02% |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.27 AC |
| Building Size | 7,830 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1948 |
| Parking Ratio | 2.55/1,000 SF |
| Zoning | R5 - Commercial Multi-Family |
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 | - | - |
Property Taxes
| Parcel Number | 08-00337-694 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $380,505 CAD |
Property Taxes
Parcel Number
08-00337-694
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$380,505 CAD
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