5771 Chatsworth Street, Detroit, MI 48224 3212
5771 Chatsworth Street, Detroit, MI 48224 3212
5771 Chatsworth Street, Detroit, MI 48224 3212
5771 Chatsworth Street, Detroit, MI 48224 3212
5771 Chatsworth Street, Detroit, MI 48224 3212
5771 Chatsworth Street, Detroit, MI 48224 3212
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Shannon Bagdonas

Shannon Bagdonas

+1(313) 766-8387
$ 145,000
Est. payment | /mo

2 Baths

2,704 SqFt

Save
$ 145,000
Est. payment | /mo
Save

2 Baths

2,704 SqFt

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 2,704 sqft

Price per Sqft $53

Subdivision Mi

MLS Listing ID 61004606

Style 2 Story

Full Baths 2

Year Built 1928

Annual Tax Amount $11,541

Lot Size 4,791 Sqft

Acres 0.11

Lot Dimensions 38X126.68

Property Sub-Type Multi-Family

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

Area Detroit (82001)

Rooms

Basement Block, Common, Egress/Daylight Windows

Interior

Heating Forced Air

Fireplace No

Exterior

Exterior Feature Brick

Building

Story 2 Story

Foundation Basement

Water Public Water

Structure Type Brick

Schools

School District Detroit City School District

Others

Ownership Private

Energy Description Natural Gas

Financing Cash,Conventional

MiRealSource (MI RealSource (Lenawee /Saginaw/SE-Border/Gr Shiawassee/Upper Peninsula)
Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource.
Listed by Douglas Rose Realty

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Shannon Bagdonas
Shannon Bagdonas

Team Lead / Broker Partner

+1(313) 766-8387

movinginmichigan.net

6838 Park Ave, Allen Park, MI 48101-2036, USA

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5771 Chatsworth Street