303 COVINGTON Drive Active Save Request In-Person Tour Request Virtual Tour
Detroit,MI 48203
Key Details
Property Type Commercial
Sub Type Real Estate Only
Listing Status Active
Purchase Type For Sale
Square Footage 8,831 sqft
Price per Sqft $158
Subdivision Merrill Palmer (Also Pg 55 )
MLS Listing ID 20250024379
Year Built 1964
Annual Tax Amount $19,675
Lot Size 10,890 Sqft
Property Sub-Type Real Estate Only
Property Description
MID-CENTURY IN THE CITY! Sellers have made an extensive investment into renovations, making this recently remodeled 15-unit Palmer Park GEM a prime income-generating property. 303 Covington consistently earns top-dollar rental income, with most units already updated or in the final stages of renovation—tenant-ready within the month.
Recent upgrades include a new boiler (2022), all new electrical service panels, dozens of replaced thermal windows, new in-unit ACs, and numerous interior improvements throughout each unit. This property has been a reliable income producer for decades and has undergone several thoughtful restorations, making it highly desirable for long-term, consistent occupancy.
Tenants enjoy a shared courtyard and laundry room, secure fencing, illuminated walkways, front and rear entrances, and first-come, first-served parking.
Rent rolls and expense reports available upon request. Don't miss this incredible investment opportunity in one of Detroit's most historic and revitalized neighborhoods!
Location
State MI
County Wayne
Area Det 6-8 Grfld-Dequindre
Zoning Commercial,Multi-Family
Exterior
Exterior Feature Fenced
Building
Foundation Slab
Sewer Public Sewer (Sewer-Sanitary)
Water Public (Municipal)
Structure Type Brick
Schools
School District Detroit
Others
Assessment Amount $750
Acceptable Financing Cash,Conventional
Listing Terms Cash,Conventional
Special Listing Condition Full Service