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3273 Cortland St 2 Unit Apartment Building $250,000 ($125,000/Unit) Detroit, MI 48206
Investment Highlights
- Projected Rental Income Up to $3,100/Month
- Two Spacious 3-Bedroom / 1-Bath Units
- Both Units Vacant – Select Your Own Tenants or Live In One Unit and Rent the Other
- Potential ±12% Cap Rate
- Extensively Renovated in 2024
- New Roof, Updated Major Systems & New 2-Car Garage
Executive Summary
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.
Property Facts
| Price | $250,000 | Lot Size | 0.10 AC |
| Price Per Unit | $125,000 | Building Size | 2,700 SF |
| Sale Type | Investment | Average Occupancy | 0% |
| No. Units | 2 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1924/2024 |
| Property Subtype | Apartment | ||
| Zoning | R2 | ||
| Price | $250,000 |
| Price Per Unit | $125,000 |
| Sale Type | Investment |
| No. Units | 2 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Lot Size | 0.10 AC |
| Building Size | 2,700 SF |
| Average Occupancy | 0% |
| No. Stories | 2 |
| Year Built/Renovated | 1924/2024 |
| Zoning | R2 |
Amenities
- Smoke Detector
Unit Amenities
- Balcony
- Fireplace
- Microwave
- Washer/Dryer
- Washer/Dryer Hookup
- Heating
- Ceiling Fans
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
- Basement
- Deck
- Dining Room
- Handrails
- Patio
- Porch
Site Amenities
- Fenced Lot
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+1 | 2 | - | - |
1 1
Fairly walkable
50/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 12-003833 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $45,100 |
Property Taxes
Parcel Number
12-003833
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$45,100
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