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516 NEFF Lane LN Grosse Pointe, MI 48230
20 Baths
16,080 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type MultiFamily
Listing Status Active
Purchase Type For Rent
Square Footage 16,080 sqft
MLS Listing ID 20261004006
Style UpperLowerApartment
Full Baths 20
Year Built 1972
Lot Size 0.970 Acres
Acres 0.97
Property Sub-Type MultiFamily
Property Description
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
Area Area05064Grossepointe
Rooms
Basement Full, Unfinished
Interior
Interior Features EntranceFoyer
Heating Forced Air, Natural Gas
Cooling Central Air
Fireplace No
Laundry LaundryRoom
Exterior
Exterior Feature Balcony, Lighting
Parking Features Assigned, Carport
Pool None
Utilities Available AboveGroundUtilities
View Y/N No
Roof Type Asphalt
Garage false
Building
Foundation Basement, Block
Sewer Public Sewer
Water Public
New Construction No
Schools
High Schools Grosse Pointe
School District Grosse Pointe
Others
Senior Community false
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition ShortSaleNo, Standard
Pets Allowed Call
