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$ 1,400,000
Est. payment | /mo
8,831 SqFt
$ 1,400,000
Est. payment | /mo
8,831 SqFt
Key Details
Property Type Commercial
Sub Type Commercial/Industrial
Listing Status Active
Purchase Type For Sale
Square Footage 8,831 sqft
Price per Sqft $158
Subdivision Mi
MLS Listing ID 60383544
Annual Tax Amount $19,675
Lot Size 10,890 Sqft
Acres 0.25
Lot Dimensions 92.00 x 120.00
Property Sub-Type Commercial/Industrial
Property Description
MID-CENTURY IN THE CITY! Sellers have made an extensive investment into renovations, making this recently remodeled 15-unit Palmer Park GEM a prime income-generating property. 303 Covington consistently earns top-dollar rental income, with most units already updated or in the final stages of renovation—tenant-ready within the month. Recent upgrades include a new boiler (2022), all new electrical service panels, dozens of replaced thermal windows, new in-unit ACs, and numerous interior improvements throughout each unit. This property has been a reliable income producer for decades and has undergone several thoughtful restorations, making it highly desirable for long-term, consistent occupancy. Tenants enjoy a shared courtyard and laundry room, secure fencing, illuminated walkways, front and rear entrances, and first-come, first-served parking. Rent rolls and expense reports available upon request. Don’t miss this incredible investment opportunity in one of Detroit’s most historic and revitalized neighborhoods!
Location
State MI
County Wayne
Area Detroit (82001)
Zoning Multi-Family,Commercial
Building
Foundation Slab
Water Public Water
Structure Type Brick
Others
Ownership Private
Assessment Amount $750
Financing Cash,Conventional
Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource.
Listed by Keller Williams Realty-Great Lakes
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