42
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$1,450,000
Est. payment /mo
8 Baths
5,687 SqFt
New
669 W Canfield Street Detroit, MI 48201 1192
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Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 5,687 sqft
Price per Sqft $254
Subdivision Mi
MLS Listing ID 61024139
Full Baths 8
Year Built 1880
Annual Tax Amount $30,281
Lot Size 9,583 Sqft
Acres 0.22
Lot Dimensions 50x190
Property Sub-Type Multi-Family
Property Description
CANFIELD HISTORIC DISTRICT-Rare opportunity to own a historic Queen Anne property configured as a 4-unit investment property with 3 units in the main residence and 1 fully renovated Carriage House. The property offers existing rental income with additional value-add potential through the unfinished third-floor/attic unit that has approved architectural plans for an approximately 1,433 sq. ft. attic studio with a private balcony. Extensive improvements have been completed throughout the property, including leveling of the first and second floors, new subfloors and engineered hardwood flooring, wallpaper removal and wall restoration, Victorian-style chandeliers, renovated kitchen and baths, luxury primary ensuite with marbled porcelain tile, soaking tub, walk-in shower and double vanities, basement improvements with bonus room and epoxy flooring, sealed basement walls and asbestos removal. Additional improvements include all-new HVAC systems, furnaces and A/C units, complete ductwork replacement, updated electrical with new wiring and 200-amp panel, new electric meter and GFCI outlets, gas fireplace conversions, interconnected smoke and CO detectors, structural reinforcement with new supports, restored front porch, decorative tile installation and tuck-pointing. The fully modernized 1885 Carriage House features a kitchen, 1.5 baths, septic repair and wildlife mitigation. Additional features include a private driveway, spacious backyard and approved architectural plans for future attic development. Tax incentives include PRE and NEZ, with a PILOT (Payment in Lieu of Taxes) application submitted. When approved, the PILOT structure is expected to significantly reduce the property's annual tax, with projected taxes of approximately $3,333 per year for the entire property. BAVAI Excellent opportunity for an investor seeking a historic 4-unit property with substantial improvements, existing income, and significant additional value-add potential.
Location
State MI
County Wayne
Area Detroit (82001)
Zoning Residential
Rooms
Basement Partially Finished
Interior
Heating Forced Air
Cooling Central A/C
Fireplace No
Exterior
Exterior Feature Brick
Building
Foundation Basement
Water Public Water
Structure Type Brick
Schools
School District Detroit City School District
Others
Ownership Private
Energy Description Natural Gas
Financing Cash,Conventional
Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource.
Listed by Golden Key Realty Group LLC
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