Ioana Preda

Attention Investors! Amazing opportunity to own an income-producing duplex just 1 block from Chandler Park on Detroit's Eastside! Lease both units out for cash flow OR live in one unit and rent the other! Part of a 3-property rental portfolio in Detroit - can be sold individually or together (inquire about other properties).​ This duplex features two 2 Bed 1 Bath units just over 1000 sqft each.​ Lower unit is currently leased for $950/month & the upper unit is currently leased at $800/month.​ Potential Cap Rate when fully leased will be 10% or higher! The property includes numerous updates & renovations a including new roof , refinished hardwood floors throughout, 2 furnaces & duct work, 2 hot water tanks, updated kitchens & flooring, drywall & painting, & much more! (Scope of Work available) The basement is accessible by both units through the main foyer.​ There is a parking pad out back for 2 vehicles or street parking is also available.​ The lower unit features an enclosed porch, while the upper unit has its own balcony space.​ AWESOME LOCATION - walk or bike to Chandler Park, Detroit’s fourth largest park with 200 acres of sports fields, sports courts, skate park, walking paths, aquatic facility, and a golf course.​ A new indoor Recreation Facility is being constructed in the park, and most recently playground & picnic amenities were added.​ Easy access to I-94 - Just an 11 minute drive to Downtown Detroit or the Grosse Pointes.​ Don't miss out on this opportunity! *Some exterior photos include enhanced landscaping.​* * No Owner Financing Available

THIS IS A FANNIE MAE HOMEPATH PROPERTY. * * * 20 DAY FIRST LOOK OWNER OCCUPANT * * * BUYER RESPONSIBLE FOR ANY MUNICIPAL REQUIREMENTS AND BUYER TO VERIFY ALL INFORMATION INCLUDING SQUARE FEET, TAXES, FEATURES AND MEASUREMENTS. Home has original character features and charm. Some hardwood floors, fireplace in living room, enclosed sunroom, detached garage, 3 bedrooms, 1 bath.

Welcome to 1235 Edison Street, a whimsical dreamscape located in the Historic Boston-Edison neighborhood! You won't find a home with more personality than this! Built in 1916, this 3-story brick colonial underwent a major renovation in 2019-2020 & the owner has continued to make improvements since. Major updates include installing 2 new furnaces & 2 new AC units, new roof underlayment & 25 year dimensional shingles, new electrical panel & meter can, new Pex plumbing system, new hot water tank, new tile & vinyl flooring, refinished hardwood floors & banister, new kitchen & bathrooms, & much more! The first floor features hardwood flooring throughout and a massive living room with wood-burning brick fireplace and a connected office/library with a wagon wheel light fixture & ornamental wallpaper. The dining room is a show-stopper with its playfully exotic wallpaper, stained glass chandelier, ceiling plaster detail, & wall sconces. Making your way to the fully renovated kitchen, enjoy the moody cabinet colors & wallpaper mixed with newer appliances & granite countertops. The second floor features 3 sizable bedrooms with generous closet space, a fully renovated bathroom, & original built-ins for extra storage. Off one of the bedrooms, you'll find an incredible three seasons room encapsulated by windows with new tile flooring and faux tin ceiling tile. The third floor offers a 2nd full bath and an additional room that could be a 4th bedroom, fitness area, game room, or meditation space. The third floor could easily function as its own personal suite! The backyard provides the ability to create your own private oasis with the patio space and landscaping. Prime Location with easy access to M-10, making it just a 9 minute drive to Downtown Detroit! Even better, this home is located only 3 blocks (9 minute walk) from Gordon Park & neighborhood favorite, The Congregation for coffee, cocktails, & bites. Just a 4 minute drive to New Center & Milwaukee Junction shops, restaurants, & more!

Ioana Preda

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Recent property sales & transaction history

3 properties

Detroit

Family Home

$100,000 to $200,000

1,900 ft² to 2,000 ft²

Properties for sale by listing agent Ioana Preda

$160,000

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