1561 W Grand Boulevard, Detroit, MI 48208
Local realty services provided by:ERA Prime Real Estate Group
1561 W Grand Boulevard,Detroit, MI 48208
$349,900
- - Beds
- 4 Baths
- 2,662 sq. ft.
- Multi-family
- Active
Listed by: paul mychalowych
Office: exp realty birmingham
MLS#:20261038699
Source:MI_REALCOMP
Price summary
- Price:$349,900
- Price per sq. ft.:$131.44
About this home
Turnkey, fully renovated triplex offering immediate income potential and attractive investment metrics in one of Detroit's rapidly improving neighborhoods. Located just minutes from Downtown Detroit, New Center, Henry Ford Hospital, Wayne State University, and major freeway access, this multifamily property is ideally positioned for both strong rental demand and long-term appreciation.
All three units have been extensively updated with modern finishes, including renovated kitchens featuring quartz countertops, updated cabinetry, and beautifully remodeled bathrooms with quartz surfaces and contemporary fixtures. Investors will appreciate the significant capital improvements already completed, reducing near-term maintenance expenses and enhancing tenant appeal.
The property is projected to generate approximately $3,300 per month ($39,600 annually) in gross rental income, with the second-floor unit currently leased at $1,200 per month. The first-floor unit is projected at $1,300 per month and the third-floor unit at $800 per month, providing immediate upside through lease-up of the remaining units.
With a projected gross rent multiplier under 9 and estimated cap rate approaching 7%, this property presents a compelling opportunity for investors seeking cash flow, appreciation potential, and a renovated asset requiring minimal additional investment. Whether adding to an established portfolio or entering the multifamily market, this property checks all the boxes for today's investor.
Rare opportunity to acquire a fully renovated triplex with strong income potential, modern finishes, and an unbeatable location near Detroit's largest employment, medical, and educational centers.
Income-producing property generating $3,250 per month in rental income, with the first floor leased at $1,300/month, the second floor at $1,200/month, and the third floor at $750/month.
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Home facts
- Year built:1912
- Subdivision & Development:BELA HUBBARDS SUB
- Listing ID #:20261038699
- Added:85 day(s) ago
- Updated:August 27, 2026 at 10:06 AM
Rooms and interior
- Total bathrooms:4
- Full bathrooms:3
- Half bathrooms:1
- Basement Description:Full, Unfinished
- Living area:2,662 sq. ft.
Heating and cooling
- Heating:Forced Air, Natural Gas
Structure and exterior
- Year built:1912
- Building area:2,662 sq. ft.
- Lot area:0.12 Acres
- Architectural Style:Triplex
- Construction Materials:Brick
- Foundation Description:Basement, Block
- Levels:Three
Utilities
- Water:Public
- Sewer:Public Sewer
Finances and disclosures
- Price:$349,900
- Price per sq. ft.:$131.44
- Tax amount:$1,563
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