32
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$1,900,000
Est. payment /mo
12,144 SqFt
Active
29425 W Jefferson AVE Gibraltar, MI 48173
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Key Details
Property Type Commercial
Sub Type RealEstateOnly
Listing Status Active
Purchase Type For Sale
Square Footage 12,144 sqft
Price per Sqft $156
MLS Listing ID 20261060727
Lot Size 1.320 Acres
Acres 1.32
Property Sub-Type RealEstateOnly
Property Description
Rare opportunity to acquire a well-established 24-unit multifamily investment in Gibraltar, owned and operated by the same owners for nearly 40 years. Situated on approximately 1.32 acres with 155 feet of frontage, this two-story property offers an attractive mix of 16 one-bedroom and 8 two-bedroom units, providing a diverse tenant base and consistent rental demand. The property features approximately 12,144 square feet of living space, a full basement, boiler heat, individual window A/C units, municipal water and sewer, and ample on-site parking. Long-term ownership has provided stability and a strong track record of rental income, while current rents present an opportunity for a new owner to evaluate and capture additional rental upside over time. Conveniently located near Gibraltar Road, I-75 and major Downriver thoroughfares, with easy access to shopping, dining, employment and surrounding communities. A substantial multifamily asset with established income, a desirable unit mix and meaningful potential for future growth. Buyer to independently verify all information, measurements, zoning, permitted uses and financials.
Location
State MI
County Wayne
Area Area05183Gibraltar
Interior
Heating Hot Water
Cooling Wall/Window Unit(s)
Fireplace No
Exterior
Parking Features ParkingLot
View Y/N No
Garage false
Building
Foundation Basement, Block
Sewer Public Sewer
Water Public
New Construction No
Schools
School District Gibraltar
Others
Senior Community false
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition RealEstateOwned, ShortSaleNo
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Listed by Jessica Tremonti of Century 21 Curran & Oberski
NEARBY SCHOOL & BUSINESS
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