70
See all 70 photos
$925,000
Est. payment /mo
20 Baths
11,949 SqFt
Active
1055 PHILIP ST Detroit, MI 48215
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Key Details
Property Type Multi-Family
Sub Type MultiFamily
Listing Status Active
Purchase Type For Sale
Square Footage 11,949 sqft
Price per Sqft $77
Subdivision Pointe View Joseph S Visger & Edgar J Hitchings
MLS Listing ID 20240088848
Style Other
Full Baths 20
Year Built 1928
Property Sub-Type MultiFamily
Property Description
1055 Philip St is a 20-unit multifamily investment opportunity located between Grosse Pointe Park and Jefferson Chalmers. The property features a newer front roof, individually metered units for tenant-paid utilities, wall furnaces in each unit, and an existing radiator system that provides an alternative heating option if desired. Tenants also have access to a shared downstairs storage area that could be rented out for additional revenue. Public transportation is easily accessible, with a bus station just steps away on E Jefferson Ave, making for a quick 12-minute commute to Downtown Detroit. This property is strategically positioned near major development, including the $45 million Schaap Center for the Performing Arts expansion in Grosse Pointe Park. Whether you're a seasoned investor or entering the multifamily space, 1055 Philip offers strong cash flow, upside potential, and a prime location within Detroit's east-side resurgence.
Location
State MI
County Wayne
Area Area05066Detmcclellaneastmacktoshore
Rooms
Basement Unfinished
Interior
Heating ForcedAir, NaturalGas
Exterior
Pool None
View Y/N No
Building
Foundation Basement, BrickMortar
Sewer PublicSewer
Water Public
Schools
School District Detroit
Others
Senior Community false
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition ShortSaleNo, Standard
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Listed by Tiroca Battle of REALTEAM Real Estate
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