MI > Detroit > Virginia Park Sub Of Pt Of 1-4 Sec 55 Ttat
Detroit, MI 48206,1613 Virginia Park Street
Detroit, MI 48206,1613 Virginia Park Street
Detroit, MI 48206,1613 Virginia Park Street
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$315,000
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2 Beds
3 Baths
3,109 SqFt
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1613 Virginia Park Street Detroit, MI 48206

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Estrella Morales Mendez

Estrella Morales Mendez

+1(248) 736-1612

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Historic,Other,Upper/Lower Apartment

Listing Status Active

Purchase Type For Sale

Square Footage 3,109 sqft

Price per Sqft $101

Subdivision Virginia Park Sub Of Pt Of 1/4 Sec 55 Ttat

MLS Listing ID 20251032172

Style Historic,Other,Upper/Lower Apartment

Bedrooms 2

Full Baths 3

Year Built 1919

Annual Tax Amount $5,608

Lot Size 6,969 Sqft

Acres 0.16

Lot Dimensions 40 x 174

Property Sub-Type Historic,Other,Upper/Lower Apartment

Source Realcomp II Ltd

Property Description

This three-unit multifamily property in Detroit's New Center presents a rare combination of immediate income and long-term upside, producing approximately $40,000 in annual gross revenue with tenants already in place. The asset is comprised of two spacious three-bedroom units and one studio unit, all featuring updated MEP systems and renovated interiors, with current rents of $1,300, $1,350, and $650. Offering an estimated cap rate of ~12.5%, the property also provides value-add potential through the third-floor unit, creating additional room for increased returns. Strategically located in one of Detroit's strongest rental corridors near both Midtown and New Center, residents benefit from proximity to neighborhood staples including The Congregation, Saturn Coffee, and Detroit People's Food Co-op. This turnkey opportunity delivers stable cash flow today with meaningful growth potential for investors seeking to capitalize on Detroit's continued momentum.

Location

State MI

County Wayne

Area Det: Livernois-I75 6-Gd River

Zoning Multi-Family,Residential

Direction Head North on Rosa Parks from Grand Blvd, take a right (east) on Virginia Park - property will be on the South side of the street.

Rooms

Basement Unfinished

Interior

Hot Water Natural Gas

Heating Forced Air, Separate Meters

Fireplace no

Heat Source Natural Gas

Exterior

Garage Spaces 4.0

Road Frontage Paved

Garage no

Private Pool No

Building

Foundation Basement

Sewer Sewer (Sewer-Sanitary), Sewer at Street

Water Public (Municipal)

Architectural Style Historic, Other, Upper/Lower Apartment

Level or Stories 3 Story

Structure Type Brick

Schools

School District Detroit

Others

Pets Allowed Yes

Tax ID W08I001970S

Ownership Short Sale - No,Private Owned

Acceptable Financing Cash, Conventional

Rebuilt Year 2019

Listing Terms Cash, Conventional

Financing Cash,Conventional

Realcomp MLS
©2025 Realcomp II Ltd. Shareholders
Listed by Garrett Blair of Douglas Rose Realty
agent
Estrella Morales Mendez

Realtor | License ID: 6501422740

+1(248) 736-1612 | estrellamoralesmendez@epique.me

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1613 Virginia Park Street