Back to Market Report Property

516 Neff Lane Ln, Grosse Pointe, MI 48230

$3,995,000
: 20
BA
: 16,080
SqFt

Add to Favorites New Search

Show Photos

Verify your account to unlock exclusive photos, mortgage tools, and more.

Add to Favorites

List Price: $3,995,000
MLS#: 20261004006
Status: PENDING
Bathrooms: 20

Refine Search

Property Description

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.

Search All Properties

Additional Information

Year Built: 1972
Basement Type: Full, Unfinished
Acres: 0.97
Style: Apartment
Acres: 0.97
School District: Grosse Pointe
Interior Features: Entrance Foyer
Cooling: Central Air
Heating: Forced Air, Natural Gas
Exterior Features: Balcony, Lighting
Garage Description: Assigned, Carport