5569 Drexel Street, Detroit, MI 48213

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Sold Price
$171,000
List Price
$169,999
Closing Date
Apr 15, 2026
Days on Market
67
MLS#
20261007812
Status
SOLD
Type
Multifamily
Bathrooms
2

Property Description

REDUCED! LOCATED 4 MINUTES FROM THE HISTORIC INDIAN VILLAGE, YOU WILL FIND 5569 DREXEL NESTLED ON A 3,833 SQUARE FOOT LOT IN A QUIET NEIGHBORHOOD OF HOMEOWNERS. THIS CROWN JEWEL BOASTS A BRAND NEW 40 YEAR ROOF TO ENSURE REPEAT DIVIDENDS FOR MANY YEARS TO COME. EVERY WINDOW IN THIS COMPOUND IS BRAND NEW AND SHE HAS BEEN UPGRADED WITH NEW FURNACES, NEW ELECTRICAL, NEW PLUMBING AND HOT WATER TANKS TO INSURE MAINTENANCE FREE CASH FLOW. FURTHERMORE SHE HAS FRESHLY ROLLED PAINT AND BRAND NEW CARPET WITH TOP OF THE LINE UNDERLAYMENT. THIS BEAUTY HAS JUST BEEN LEASED WITH 2 YEAR SECTION 8 TENANTS AND THE MONTHLY DIVIDENDS OF $2178 ARE PAID IN FULL BY THE FEDERAL GOVERNMENT. TENANTS PAY ALL THE UTILITIES WHICH ALLOWS THIS INVESTMENT TO PAY A RETURN OF JUST UNDER 20%. THE TAXES HAVE BEEN REDUCED TO ROUGHLY $100 PER MONTH. THIS DIAMOND WILL WRAPPED AROUND A LUCKY OWNER'S FINGER SOON! NO SHOWINGS WITHOUT ACCEPTED FULL LIST OFFER.

Additional Information

Taxes
$2,168
Acres
0.08
Heating
Forced Air
School District
Detroit
Water
Public

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Calculator source: Real Geeks

Listing courtesy of Listing Agent: Lauryn Johnson from Listing Office: KW Domain.

Selling Agent: Selling Office: .

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