1197 Virginia Park St - Apartments FOR SALE


Detroit, MI 48202- New Center
$1,075,000 USD
248-530-7292
1197 Virginia Park St, Detroit, MI for Sale
$1,075,000 USD
Apartments - FOR SALE
1/96
null | 9.19% Cap Rate

1197 Virginia Park St
Detroit, MI 48202
New Center


OVERVIEW

Excellent investment opportunity in Detroit’s desirable Virginia Park neighborhood, located within an Opportunity Zone! This wellmaintained 9-unit townhouse-style multifamily property in the New Center area offers strong rental potential and long-term upside. The building features a diverse unit mix including six 2-bedroom units, two spacious 5-bedroom units, and one 4-bedroom unit—ideal for maximizing rental income. All units are currently occupied, providing immediate cash flow. Significant updates include a freshly painted exterior (2025) and brand-new gutters (2025). Multiple units have been remodeled in 2024–2025, enhancing overall appeal and value. Each unit is equipped with central air conditioning, newer furnaces, hot water tanks, and updated appliances, including in-unit washers and dryers. Additional features include semi-finished basements, ADT alarm systems, and an exterior security camera system. Owned and professionally managed for over 20 years, this property reflects consistent care and attention. Conveniently located near Henry Ford Hospital, Wayne State University, downtown Detroit, QLine transit, and major freeways, making it highly attractive to tenants. Turnkey, fully occupied, and positioned in a high-demand area—this is a rare opportunity to add a solid performing asset to your portfolio. 16,546 Est Tot Fin: includes basements each with own baths. certificate of occupancy permits.

FOR SALE DETAILS

PRICE

$1,075,000 USD

PRICE/SF

$79 USD /SF

# OF UNITS

9

PRICE/UNIT

$119,444

CAP RATE

9.19%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1916

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.31 AC

LAND SF

13,604 SF

ZONING

R-2

APN/PARCEL ID

06-001766

ASK ABOUT THIS PROPERTY

James SilverKeller Williams Realty - Troy Market CenterMore Info
248-530-7292

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James SilverKeller Williams Realty - Troy Market CenterMore Info
248-530-7292

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.