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About the Listing 432348 - 418855
CANFIELD HISTORIC DISTRICT-Rare opportunity to own a historic Queen Anne property configured as a 4-unit investment property with 3 units in the main residence and 1 fully renovated Carriage House. The property offers existing rental income with additional value-add potential through the unfinished third-floor/attic unit that has approved architectural plans for an approximately 1,433 sq. ft. attic studio with a private balcony. Extensive improvements have been completed throughout the property, including leveling of the first and second floors, new subfloors and engineered hardwood flooring, wallpaper removal and wall restoration, Victorian-style chandeliers, renovated kitchen and baths, luxury primary ensuite with marbled porcelain tile, soaking tub, walk-in shower and double vanities, basement improvements with bonus room and epoxy flooring, sealed basement walls and asbestos removal. Additional improvements include all-new HVAC systems, furnaces and A/C units, complete ductwork replacement, updated electrical with new wiring and 200-amp panel, new electric meter and GFCI outlets, gas fireplace conversions, interconnected smoke and CO detectors, structural reinforcement with new supports, restored front porch, decorative tile installation and tuck-pointing. The fully modernized 1885 Carriage House features a kitchen, 1.5 baths, septic repair and wildlife mitigation. Additional features include a private driveway, spacious backyard and approved architectural plans for future attic development. Tax incentives include PRE and NEZ, with a PILOT (Payment in Lieu of Taxes) application submitted. When approved, the PILOT structure is expected to significantly reduce the property’s annual tax, with projected taxes of approximately $3,333 per year for the entire property. BAVAI Excellent opportunity for an investor seeking a historic 4-unit property with substantial improvements, existing income, and significant additional value-add potential.
Listing Highlights
Interior Details
- Bedrooms: 7
- Bathrooms: 8 Full
- Appliances:
- Air Cond: Central Air
- Heating: Forced Air,Natural Gas
- Fireplaces:
- Floor:
- Above Ground Sq Ft: 5687
- Below Ground Sq Ft: 1733
- Basement: Partially Finished
- Other: 3 Story,Forced Air,Pets Allowed
- Water: Public (Municipal)
Exterior Details
- Garage Capacity: N/A
- Parking Spaces: 7
- Lot Dimensions: 50x190
- Zoning: Residential
- Roof:
- Others: Brick,Paved
- Sewer: Sewer (Sewer-Sanitary)
- Parking Features: Garage
Financial Details
- Tax Amount: $30,281
- Taxes w/Assessments: N/A
- Tax/Property ID: W27I240548S
- Tax Year: N/A
Payment Calculator
Monthly Payment
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669 W Canfield St Detroit, MI 48201
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