3273 Cortland St - Apartments FOR SALE


Detroit, MI 48206- North Detroit
$250,000 USD
313-571-6581
3273 Cortland St, Detroit, MI for Sale
$250,000 USD
Apartments - FOR SALE
1/43
null | Request Cap Rate

3273 Cortland St
Detroit, MI 48206
North Detroit


HIGHLIGHTS

  • Projected Rental Income Up to $3,100/Month
  • Potential ±12% Cap Rate
  • Two Spacious 3-Bedroom / 1-Bath Units
  • Extensively Renovated in 2024
  • Both Units Vacant – Select Your Own Tenants or Live In One Unit and Rent the Other
  • New Roof, Updated Major Systems & New 2-Car Garage

OVERVIEW

Completely renovated duplex and ready for its next owner, 3273 Cortland offers two spacious 3-bedroom, 1-bath units with projected rental potential of up to $3,100/month - an impressive combination of condition, income potential, and flexibility for both investors and owner-occupants. Extensively renovated in 2024, nearly every aspect of the property has been updated, including a new roof, new windows, updated kitchens and bathrooms, luxury vinyl plank flooring, fresh interior and exterior paint, and updated plumbing, electrical, and mechanicals. Outside, the improvements continue with new front and rear decks, a fully fenced backyard, and a newly built 2-car garage. Separate gas and electric meters help simplify tenant management. For investors, projected rents of up to $3,100/month provide $37,200 in potential annual gross income and the potential for an approximately 12% cap rate based on projected rents and estimated expenses at the current asking price. Both units are currently vacant, giving the next owner control from day one - select your own tenants and establish new leases, or occupy one unit and rent the other to help offset your housing costs. Conveniently located near Henry Ford Hospital, Wayne State University, Midtown, the Motown Museum, Downtown Detroit, major roads, schools, and area amenities. With the major renovations already completed, strong projected rental potential, and two fully available units, 3273 Cortland is ready for an investor to put to work or an owner-occupant to call home. Schedule your private showing today. BATVAI. No Seller-Financing or Land Contract offers will be presented to the seller. Video and audio recording may be in place.

FOR SALE DETAILS

PRICE

$250,000 USD

PRICE/SF

$93 USD /SF

# OF UNITS

2

PRICE/UNIT

$125,000

CAP RATE

Request Cap Rate

% LEASED

0%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1924

PARKING SPACES

2

LAND DETAILS

LAND ACRES

0.1 AC

LAND SF

4,356 SF

ZONING

R2

APN/PARCEL ID

12-003833

ASK ABOUT THIS PROPERTY

Jay NaimeXp RealtyMore Info
313-571-6581

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Jay NaimeXp RealtyMore Info
313-571-6581

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