About 1055 Philip Street
1055 Philip St is a 20-unit multifamily investment opportunity located between Grosse Pointe Park and Jefferson Chalmers. The property features a newer front roof, individually metered units for tenant-paid utilities, wall furnaces in each unit, and an existing radiator system that provides an alternative heating option if desired. Tenants also have access to a shared downstairs storage area that could be rented out for additional revenue. Public transportation is easily accessible, with a bus station just steps away on E Jefferson Ave, making for a quick 12-minute commute to Downtown Detroit. This property is strategically positioned near major development, including the $45 million Schaap Center for the Performing Arts expansion in Grosse Pointe Park. Whether you’re a seasoned investor or entering the multifamily space, 1055 Philip offers strong cash flow, upside potential, and a prime location within Detroit’s east-side resurgence.
Features of 1055 Philip Street
| MLS® # | 20251054700 |
|---|---|
| Price | $900,000 |
| Bathrooms | 0.00 |
| Square Footage | 11,949 |
| Acres | 0.15 |
| Year Built | 1928 |
| Type | Commercial |
| Status | Active |
Community Information
| Address | 1055 Philip Street |
|---|---|
| Area | 05066 - Det: Mcclellan East/Mack To Shore |
| Subdivision | POINTE VIEW JOSEPH S VISGER & EDGAR J HITCHINGS |
| City | Detroit city |
| County | Wayne |
| State | Michigan |
| Zip Code | 48215 |
Amenities
| Is Waterfront | No |
|---|---|
| Has Pool | No |
Interior
| Heating | Radiant |
|---|---|
| Fireplace | No |
Exterior
| Construction | Brick |
|---|---|
| Foundation | Basement, Brick/Mortar |
School Information
| District | Detroit |
|---|
Additional Information
| Foreclosure | No |
|---|---|
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Office | Saturn Realty Group |
|---|---|
| Contact Info | okeish@thesaturngroup.com |