669 W Canfield Street
Detroit, MI 48201
$1,450,000 · 8 baths · 5,687 sq ft
- Price
- $1,450,000
- Status
- Active
- Property type
- Multifamily
- Bathrooms
- 8
- Square feet
- 5,687
- Lot size
- 50x190
- Year built
- 1880
- MLS#
- 20261064333
About this home
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.
Listed by D'Asia P Taylor, Golden Key Realty Group LLC.