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$ 425,000
Est. payment /mo
Active
508 - 506 Kenilworth Detroit, MI 48202
4 Baths
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Municipality Wayne City
Subdivision Wayne City
MLS Listing ID 20251051799
Year Built 1911
Annual Tax Amount $1,350
Lot Dimensions 120x120
Source Realcomp
Property Description
Fantastic Investment Opportunity in Detroit's Fastest-Growing Zip Code!PLEASE DO NOT DISTURB THE TENANTS!Welcome to 508 Kenilworth Street, a fully occupied fourplex located in the heart of Detroit's North End - the city's most exciting and rapidly developing neighborhood, part of the highly sought-after 48202 zip code. Each of the four units features 2 bedrooms and 1 full bath, all currently leased month-to-month. The cap rate for the market rent and area is 12% ROI. This well-maintained property offers both immediate cash flow and long-term appreciation potential in one of Detroit's premier redevelopment corridors.The North End is quickly becoming one of Detroit's most desirable areas, fueled by major nearby investment including the $2.2 billion redevelopment project transforming the city's core. Residents enjoy quick access to Midtown, New Center, and Downtown Detroit, all just minutes away. The property is conveniently close to major landmarks such as the Fisher Building, Henry Ford Hospital, Detroit Medical Center, and Wayne State University, as well as numerous dining, shopping, and entertainment options. Outdoor enthusiasts will appreciate the proximity to Gordon Park and other neighborhood green spaces, while commuters benefit from easy connections to Woodward Avenue and I-75.This location combines strong rental demand with a deep sense of community and ongoing revitalization. The North End is rich in history, creativity, and culture, home to local art studios, neighborhood cafes, and new businesses fueling Detroit's urban renaissance. The area's central location and infrastructure improvements continue to attract new residents and investors alike, ensuring sustained property value growth.With 100% occupancy, month-to-month leases, and room for rental increases, 508 Kenilworth represents an exceptional turnkey investment opportunity. Add this income-producing asset to your portfolio today and secure a prime property in a booming Detroit market.
Location
State MI
County Wayne
Area Wayne County - 100
Zoning Multi-Family
Direction East Of Woodward. North Of Holbrook
Interior
Heating Forced Air
Exterior
View Y/N No
Building
Water Public
Structure Type Brick
Schools
School District Detroit
Others
Tax ID W03I002600S001
Acceptable Financing Cash, Conventional, FHA
Listing Terms Cash, Conventional, FHA
Listed by Max Broock, REALTORS®-Detroit
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