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$ 1,200,000
Est. payment | /mo
8,831 SqFt
$ 1,200,000
Est. payment | /mo
8,831 SqFt
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 8,831 sqft
Price per Sqft $135
MLS Listing ID 20250024379
Year Built 1964
Annual Tax Amount $19,675
Lot Size 10,890 Sqft
Acres 0.25
Lot Dimensions 92.00 x 120.00
Source Realcomp
Property Description
MID-CENTURY IN THE CITY! Sellers have made an extensive investment into renovations, making this recently remodeled 15-unit Palmer Park GEM a prime income-generating property. 303 Covington consistently earns top-dollar rental income, with most units already updated or in the final stages of renovation—tenant-ready within the month.Recent upgrades include a new boiler (2022), all new electrical service panels, dozens of replaced thermal windows, new in-unit ACs, and numerous interior improvements throughout each unit. This property has been a reliable income producer for decades and has undergone several thoughtful restorations, making it highly desirable for long-term, consistent occupancy.Tenants enjoy a shared courtyard and laundry room, secure fencing, illuminated walkways, front and rear entrances, and first-come, first-served parking.Rent rolls and expense reports available upon request. Don't miss this incredible investment opportunity in one of Detroit's most historic and revitalized neighborhoods!
Location
State MI
County Wayne
Area Wayne County - 100
Zoning Commercial,Multi-Family
Direction Take Woodward To subject property
Exterior
View Y/N No
Building
Foundation Slab
Sewer Public
Water Public
Structure Type Brick
Schools
School District Detroit
Others
Tax ID W02I002606S002L
Listed by Keller Williams Realty-Great Lakes
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