1565 W Grand Boulevard
Detroit, MI 48208
$299,900
- Lot
- 0.12 acres
- Year built
- 1912
- Property type
- E
- County
- Wayne
- MLS #
- 20261041443
About this home
Solid brick quadplex producing income on West Grand Boulevard. Four 2-bedroom, 1-bath units over a full basement. Three units are leased with tenants in place and the fourth is vacant, so a new owner sets that rent at today's market - the clearest upside in the building. Rents today total $2,050/mo. With all four units at the projected market rent of $850/unit ($3,400/mo), the projected cap rate is approx 7.2% (est. after actual taxes of $6,283/yr, 10% vacancy, 10% management, insurance and reserves; buyer to verify).Mechanicals have been updated: newer furnaces, updated electrical boxes and PEX plumbing throughout. Photos are recent and reflect current condition.A complete investment analysis is attached to the listing documents alongside the disclosures - rent, actual taxes, insurance, management and net income on one page - so this property can be evaluated properly before writing.Tenant parking on the street in front or behind the building. Shown upon accepted offer only; please do not disturb tenants. Leases and ledgers provided during the inspection period. Cash, Conventional, FHA or VA only - no alternative financing.
Listing courtesy of EXP Realty Main · Realcomp · Listing agent: Carlo Gobba
Listing data is provided through the IDX programs of MichRIC, Realcomp, MiRealSource, Northern Great Lakes MLS, and Greater Lansing REALTORS. Information is deemed reliable but not guaranteed and should be independently verified. Listings held by brokerages other than Bergrand Realty are marked with the listing brokerage's name. Last updated November 8, 2026.