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516 Neff Lane, Grosse Pointe, MI 48230

Grosse Pointe
Local realty services provided by:CENTURY 21 Northland
516 Neff Lane,Grosse Pointe, MI 48230
$3,995,000
  • - Beds
  • 20 Baths
  • - sq. ft.
  • Multi-family
  • Active
Listed by: mackenzie laforest
Office: pinnacle plus realty llc.
MLS#:60964783
Source:MI_REALSOURCE

Price summary

  • Price:$3,995,000

About this home

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...

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Home facts

  • Year built:1972
  • Listing ID #:60964783
  • Added:101 day(s) ago
  • Updated:May 02, 2026 at 10:18 AM

Rooms and interior

  • Total bathrooms:20
  • Full bathrooms:20
  • Basement Description:Block, Egress/Daylight Windows

Heating and cooling

  • Cooling:Central A/C
  • Heating:Forced Air

Structure and exterior

  • Year built:1972
  • Lot area:0.97 Acres
  • Construction Materials:Brick
  • Exterior Features:Exterior Balcony
  • Foundation Description:Basement, Block
  • Levels:2 Story

Utilities

  • Water:Public Water

Finances and disclosures

  • Price:$3,995,000
  • Tax amount:$44,052

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