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516 Neff Lane Lane, Grosse Pointe, MI 48230

Grosse Pointe
Local realty services provided by:CENTURY 21 Affiliated
516 Neff Lane Lane,Grossepointe, MI 48230
$3,995,000
  • - Beds
  • 20 Baths
  • 16,080 sq. ft.
  • Multi-family
  • Active
Listed by: mackenzie laforest
Office: pinnacle plus realty llc.
MLS#:20261004006
Source:MI_REALCOMP

Price summary

  • Price:$3,995,000
  • Price per sq. ft.:$248.45

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 #:20261004006
  • Added:53 day(s) ago
  • Updated:March 15, 2026 at 10:00 AM

Rooms and interior

  • Total bathrooms:20
  • Full bathrooms:20
  • Basement Description:Full, Unfinished
  • Living area:16,080 sq. ft.

Heating and cooling

  • Cooling:Central Air
  • Heating:Forced Air, Natural Gas

Structure and exterior

  • Roof:Asphalt
  • Year built:1972
  • Building area:16,080 sq. ft.
  • Lot area:0.97 Acres
  • Architectural Style:Upper Lower Apartment
  • Construction Materials:Brick
  • Exterior Features:Balcony, Lighting
  • Foundation Description:Basement, Block
  • Levels:Two

Utilities

  • Water:Public
  • Sewer:Public Sewer

Finances and disclosures

  • Price:$3,995,000
  • Price per sq. ft.:$248.45
  • Tax amount:$44,052

Features and amenities

  • Laundry features:Laundry Room
  • Amenities:Entrance Foyer

Parking

  • Total parking spaces:22
  • Parking description:Assigned, Carport
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