Snag Ferry Street Rental Units For Just Over $1M

DETROIT, MI -- If you're an investor with a million bucks to play with in the city of Detroit, you won't want to miss this 4-unit building on Detroit's East Ferry Street in the Cultural Center. Walking distance to the Q Line, DIA, Detroit Public Library and a slew of other institutions, restaurants and shops -- plus Wayne State University -- this is an ideal spot for many renters.

The building includes coveted outdoor space in the city and a sizable yard to be pet friendly.

Take a look at the specs:

• Address: 626 E Ferry St, Detroit, Michigan
• Price: $1,295,000
• Square Feet: 9524
• Bedrooms: 20
• Bathrooms: 8 Full and 4 Half Baths
• Built: 1912
• Features: PRICE INCLUDES NEARLY IDENTICAL 4-UNIT BUILDING ON ADJACENT LOT. All units at this address (626 E Ferry St.) are 3-bedrooms and 1-full bath at 1,200sf. The adjacent building (636 E Ferry St. – Parcel ID 03001550) has four 2-bedroom, 1.5-bath units at approximately 1,200sf. Seven of the Eight units are currently rented for $1,500–1,200 per month; the 8th unit is being actively marketed and should rent quickly. Each building features large front and rear porches that are shared by two adjacent units. A large open lot off the rear alley offers ample off-street parking for residents. All units have a private entrance off the rear deck, with common entries in the front. Units feature open living/dining/kitchen areas in the front, with bedrooms and bathrooms to the rear; finishes similar for all units. Common entry basements house coin-operated laundry. Highly desirable Midtown neighborhood, conveniently located near CCS & WSU.

This listing originally appeared on realtor.com. For more information and photos, click here.