Courtesy: Jim Saros Real Estate Services
James Saros
Exciting multifamily investment opportunity in rapidly appreciating Grosse Pointe Woods! Outstanding location just off Mack Avenue, this all-brick duplex offers a rare and highly desirable layout featuring a lower 3-bedroom apartment (extremely hard to find and commands a rental premium) plus a spacious 1-bedroom upper unit. Both apartments feature large, open-concept living spaces. The lower unit includes a living room and family room, a full bathroom, plus an additional half bath located in its private basement, along with extra storage and laundry. Kitchens and bathrooms in both units are well maintained. Each unit enjoys its own private basement with laundry and storage, separate utility meters, and off-street parking with a driveway and garageâ??making this property exceptionally easy to manage. Landlord currently pays water, lawn, and snow. Tenants pay gas & electric. Perfect for investors or owner-occupantsâ??house hack by living in one unit while renting the other. Both units are currently leased month to month, providing flexibility and in-place income from day one. Highly walkable location just steps from coffee shops, dining, shopping, and award-winning Grosse Pointe Public Schools. Residents also enjoy access to the Grosse Pointe Woods waterfront park featuring a marina, pool, putt-putt golf, and more. Neighboring duplexes have sold for $300K+, presenting a compelling value-add upside in an already strong market.
Grosse Pointe Woods is located in Michigan. Grosse Pointe Woods, Michigan has a population of 16,353. Grosse Pointe Woods is more family-centric than the surrounding county with 33.22% of the households containing married families with children. The county average for households married with children is 25.56%.
The median household income in Grosse Pointe Woods, Michigan is $115,247. The median household income for the surrounding county is $52,830 compared to the national median of $69,021. The median age of people living in Grosse Pointe Woods is 43.7 years.
The average high temperature in July is 82.9 degrees, with an average low temperature in January of 18.3 degrees. The average rainfall is approximately 33.6 inches per year, with 30.4 inches of snow per year.
