1055 Philip Street
Detroit, MI 48215

More
Photos »

Tools & Resources:

Description

1055 Philip St is a 20-unit multifamily investment opportunity located between Grosse Pointe Park and Jefferson Chalmers. The property features a newer front roof, individually metered units for tenant-paid utilities, wall furnaces in each unit, and an existing radiator system that provides an alternative heating option if desired. Tenants also have access to a shared downstairs storage area that could be rented out for additional revenue. Public transportation is easily accessible, with a bus station just steps away on E Jefferson Ave, making for a quick 12-minute commute to Downtown Detroit. This property is strategically positioned near major development, including the $45 million Schaap Center for the Performing Arts expansion in Grosse Pointe Park. Whether you're a seasoned investor or entering the multifamily space, 1055 Philip offers strong cash flow, upside potential, and a prime location within Detroit's east-side resurgence.

Features

• Property Type: Multi Family Home
• Sub Type: Multi Family Home
• Listing Status: Active
• County/Area: Wayne County
• Zip Code: 48215
• Year Built: 1928
• School District: Detroit
• Basement: Yes
• Lot Size: 6534 sq ft lot
• Construction Materials: Brick
• Directions: N of Jefferson Ave E/E of Connor St
• Gross Income: 76800
• Heat Source: Natural Gas
• Heating: Forced Air
• Lot Size Area: 0.15
• Lot Size Square Feet: 6534
• Lot Size Units: Acres
• MLS Area Major: Wayne County - 100
• MLS Area Minor: Wayne County - 100
• Main Type: Multi Family
• Parcel Number: W21I060751S
• Road Frontage: 60
• SEV: 383700
• Spec Assessment Ty: 100.00
• Street Type: Paved
• Tax Annual Amount: 2975
• Tax Legal Description: W PHILIP 22&21 POINTE VIEW JOS S VISGER & EDGAR J HITCHINGS SUB L17 P87 PLATS, W C R 21/302 60 X 112
• Total Approx Sq Ft All Bldgs: 11949
• Total Num Units: 20
• Water Source: Public