516 NEFF Lane Lane, Grosse Pointe, MI 48230
516 NEFF Lane Lane, Grosse Pointe, MI 48230
516 NEFF Lane Lane, Grosse Pointe, MI 48230
516 NEFF Lane Lane, Grosse Pointe, MI 48230
516 NEFF Lane Lane, Grosse Pointe, MI 48230
516 NEFF Lane Lane, Grosse Pointe, MI 48230
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Ben Fitch

Ben Fitch

+1(734) 436-1355
$ 3,995,000
Est. payment | /mo

20 Baths

0.97 Acres Lot

Save
$ 3,995,000
Est. payment | /mo
Save

20 Baths

0.97 Acres Lot

Key Details

Property Type Multi-Family

Listing Status Pending

Purchase Type For Sale

Municipality Grosse Pointe City

Subdivision Grosse Pointe City

MLS Listing ID 20261004006

Year Built 1972

Annual Tax Amount $44,052

Lot Size 0.970 Acres

Acres 0.97

Lot Dimensions 114.20 x 437.00

Source Realcomp

Property Description

Exceptional opportunity to acquire a well-located 20-unit multifamily asset in the heart of Grosse Pointe, one of Metro Detroit's most desirable and supply-constrained rental markets. This stabilized community offers immediate cash flow with significant upside through continued rent growth and value-add execution.The property features a strong unit mix with spacious floor plans, well-maintained interiors, and a history of high occupancy. Current ownership has completed substantial capital improvements in recent years, including renovations to a portion of the units, allowing a new owner to continue implementing a proven renovation and rent-increase strategy.Situated in a premier residential setting near the waterfront, top-rated schools, retail, dining, and major employment corridors, the property benefits from consistent tenant demand and long-term market stability. Grosse Pointe's limited multifamily inventory and strong demographic profile create a compelling environment for sustained rental growth and asset appreciation.With in-place income, professional management history, and clear value-add potential, this offering is ideal for investors seeking a stabilized asset with both immediate yield and long-term upside in a premier suburban market.

Location

State MI

County Wayne

Zoning Multi-Family

Direction South on Neff Rd west on st.paul.

Interior

Heating Forced Air

Cooling Central Air

Exterior

View Y/N No

Handicap Access No Step Entrance

Building

Lot Description Cul-De-Sac

Water Public

Structure Type Brick

Schools

School District Grosse Pointe

Others

Tax ID 37004990009000

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Listed by Pinnacle Plus Realty LLC

Schools and Properties Nearby

Ben Fitch

Find out why customers are choosing LPT Realty to meet their real estate needs

+1(734) 436-1355

benfitch.realtor@gmail.com

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516 NEFF Lane Lane