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516 Neff Lane, Grosse Pointe, MI 48230

Grosse Pointe
Local realty services provided by:CENTURY 21 Signature Realty
516 Neff Lane,Grosse Pointe, MI 48230
$3,995,000
  • - Beds
  • 20 Baths
  • - sq. ft.
  • Multi-family
  • Pending
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:193 day(s) ago
  • Updated:August 02, 2026 at 07:50 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
MLS LogoProvided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource. The information published and disseminated by MiRealSource is communicated verbatim, without change by MiRealSource, as filed with MiRealSource by its members. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. Copyright 2026 MiRealSource. All rights reserved. The information provided hereby constitutes proprietary information of MiRealSource, Inc. and its shareholders, affiliates and licensees and may not be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording, scanning or any information storage and retrieval system, without written permission from MiRealSource, Inc. MI_REALSOURCE Member Broker: Andrew Hauck

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