516 Neff Lane Lane

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Source: MiRealSource

Originating MLS: MiRealSource

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RC430410

Exceptional opportunity to acquire a well-located 20-unit multifamily asset in the heart of Grosse Pointe, one of Metro Detroit's most desirable and supply-constrained rental markets. This stabilized community offers immediate cash flow with significant upside through continued rent growth and value-add execution. 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.

Property Information

Property Details

Location

Address

516 Neff Lane Lane

County

Wayne

City

Grosse Pointe

Zip Code

48230 1536

Subdivision

Grosse Pointe (82335)

School District

Grosse Pointe Public Schools

MLS Area

Grosse Pointe (82335)

Listing provided by Pinnacle Plus Realty LLC, (248) 893-7795

Interior Features

Beds and Baths

Full Bathrooms

Building

Building Information

Square Feet

16,080

Year Built

1972

Stories

Construction

Brick

Foundation

Basement

Financial

Special Conditions

Standard

Property Taxes

Tax Annual Amount

$44,052

516 Neff Lane Lane, Grosse Pointe, MI 48230 1536

Market Report for 48230 1536