516 Neff, Grosse Pointe, Michigan


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Square feet



About 516 Neff

Pinnacle Plus Realty LLC is pleased to present this multi-Family property in the heart of Grosse Pointe Michigan. The property consists of 20 apartment units all 100% leased and positioned within walking distance to many shops, restaurants, health care facilities and just 8 miles from the 5th largest city in the US. 100% of the 20 units are currently leased- with 65% of the tenants on a month-to-month basis. In the last year current ownership has completed substantial capital improvements to the property including a complete renovation of 25% of the units. In the previous 12 months all 20 units have been turned over, market rent established, and new leases signed. Current market allows for the new owner to continue to substantially increase rents while adding a stabilized asset to their portfolio.

Features of 516 Neff

MLS® # 60202204
Price $3,950,000
Bathrooms 20.00
Full Baths 20
Square Footage 16,080
Acres 0.97
Year Built 1972
Type Multifamily
Status Active
Source MLS MiRealSource
Originating MLS RealComp

Community Information

Address 516 Neff
Area Grosse Pointe
City Grosse Pointe
County Wayne
State Michigan
Zip Code 48230 1536


Amenities Laundry Facility
Is Waterfront No
Waterfront Dock/Pier Facility, Lake/River Access
Has Pool No


Heating Forced Air
Cooling Central A/C
Fireplace No
Structure Style 2 Story


Exterior Features Exterior Balcony
Foundation Basement

School Information

District Grosse Pointe Public Schools

Additional Information

Zoning Multi-Family
Foreclosure No
Short Sale No
RE / Bank Owned No

Listing Details

OfficePinnacle Plus Realty LLC

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