1626 GLADSTONE Street Detroit, MI 48206

Discover a solid investment opportunity at 1626-1628 Gladstone, situated just 4 minutes from the historic Boston Edison District. This hard-to-find Section 8 approved 4-unit property is located on a spacious 5,357 square foot lot and features four recently remodeled two-bedroom units. With recently installed furnaces, hot water tanks, updated plumbing, and updated electrical systems, this property ensures minimal maintenance concerns.

Each unit was freshly painted prior to the tenants moving in, features high-quality carpeting with premium underlayment, and a recently installed 40-year roof. Currently, three of the four units are Section 8 leased, providing reliable rental income. The fourth unit has been left vacant, offering an option for "house hacking" or can be rented for 1,250 per month. The current rental roll is as follows: 1,295, 1,166, and 1,165, totaling 3,626 direct deposited into the owners account on the 1st of every month. As the new owner you can either live in the vacant unit, allowing the rental income to cover the mortgage, or rent it out to bring the total monthly rental income to 4,872—just shy of 60,000 per year from one property!

This property offers the confidence of steady income, with tenants paying their own utilities, enhancing the return on investment. Please contact the listing agent via email or text for more information. Buyers Agent to verify all info. Please do not disturb the tenants. Showings are available only with an accepted offer.