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1197 Virginia Park St 9 Unit Apartment Building $1,075,000 ($119,444/Unit) Detroit, MI 48202
Executive Summary
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.
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.
Property Facts
| Price | $1,075,000 | Building Class | C |
| Price Per Unit | $119,444 | Lot Size | 0.32 AC |
| Sale Type | Investment | Building Size | 9,195 SF |
| No. Units | 9 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1916/2020 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | R-2 - Two-Family Residential | ||
| Price | $1,075,000 |
| Price Per Unit | $119,444 |
| Sale Type | Investment |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.32 AC |
| Building Size | 9,195 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1916/2020 |
| Opportunity Zone |
Yes |
| Zoning | R-2 - Two-Family Residential |
Amenities
Unit Amenities
- Microwave
- Washer/Dryer
- Tile Floors
- Kitchen
- Hardwood Floors
- Refrigerator
- Oven
- Range
- Tub/Shower
- Carpet
- Dining Room
- Lawn
- Pantry
- Patio
- Porch
Very walkable
80/100
Moderately drivable
70/100
Limited public transit
30/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 06-001766 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $394,800 |
Property Taxes
Parcel Number
06-001766
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$394,800
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1197 Virginia Park St
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