REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 150,000
Est. payment /mo
Active
5771 Chatsworth Street Detroit, MI 48224
2 Baths
4,791 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 20261046859
Year Built 1928
Annual Tax Amount $11,541
Lot Size 4,791 Sqft
Acres 0.11
Lot Dimensions 38X126.68
Source Realcomp
Property Description
5771 Chatsworth is a brick two family flat in Detroit's Morningside neighborhood, configured as a three bedroom one bath unit over a matching three bedroom one bath unit. Both units are currently occupied and stabilized, with original character intact throughout: dark stained hardwood floors, decorative plaster wall panels, tiled fireplaces, and arched window openings that read as period appropriate for the east side's prewar housing stock. The kitchens carry updated cabinetry, tile backsplash, and gas ranges, and each unit has its own water heater in the shared basement. A detached garage sits off the rear drive.The building is fully leased and current. The lower unit rents at $950 per month through April 2027 and the upper at $850 per month through July 2027, both paying cash. Combined gross sits at $1,800 per month, or $21,600 annual, with net operating income around $11,800. At a $150,000 list that puts the buyer in near an 8 cap on day one occupancy. Both units are renting under market for the area, which leaves clear room for an incoming owner to bring rents up at renewal without heavy capital outlay given the updates already in place. This is a turnkey position for a buyer who wants income from acquisition rather than a lease up, with upside to the return as rents reset.Morningside holds some of the most intact brick housing on Detroit's far east side and sits close to the Grosse Pointe border. The Mack Avenue corridor and Grosse Pointe shopping and dining are a short drive east, Chandler Park with its golf course and aquatic center is nearby, and access to I-94 and the broader east side is straightforward. The location supports the kind of stable, long term tenancy this building is already showing.Showings by appointment only. POF or pre-approval required.
Location
State MI
County Wayne
Zoning Multi-Family,Residential
Direction Get off 94 at Chandler Park Dr, South to Outer, West to Chatsworth
Rooms
Basement Daylight
Interior
Heating Forced Air
Exterior
View Y/N No
Building
Water Public
Structure Type Brick
Schools
School District Detroit
Others
Tax ID W21I068995S
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Listed by Douglas Rose Realty
NEARBY SCHOOLS & PROPERTIES