516 NEFF Lane Lane, Grosse Pointe, MI 48230

• 20 baths |
• 16,080 sqft

Property Description

Exceptional opportunity to acquire a well-located 20-unit multifamily asset in the heart of Grosse Pointe, one of Metro Detroit’s most desirable and supply-constrained rental markets. This stabilized community offers immediate cash flow with significant upside through continued rent growth and value-add execution. The property features a strong unit mix with spacious floor plans, well-maintained interiors, and a history of high occupancy. Current ownership has completed substantial capital improvements in recent years, including renovations to a portion of the units, allowing a new owner to continue implementing a proven renovation and rent-increase strategy. Situated in a premier residential setting near the waterfront, top-rated schools, retail, dining, and major employment corridors, the property benefits from consistent tenant demand and long-term market stability. Grosse Pointe’s limited multifamily inventory and strong demographic profile create a compelling environment for sustained rental growth and asset appreciation. With in-place income, professional management history, and clear value-add potential, this offering is ideal for investors seeking a stabilized asset with both immediate yield and long-term upside in a premier suburban market.

Listing Status:

Active

Data Last Updated:

February 15, 2026 at 5:43AM

Listing Office:

Pinnacle Plus Realty LLC : 2488937795

Listing Agent:

Mackenzie Laforest : 7342103789

MLS ID:

20261004006

Interior

• General: Entrance foyer
• Laundry: Laundry room
• Basement: FullUnfinished
• A/C: Central air
• Heating: Forced airNatural gas
• Disability Feature: Accessible entrance

Exterior

• General: BalconyLighting
• Style: Upper lower apartment
• Pool: None
• Parking: AssignedCarportParking spaces: 22

Construction

• Roofing: Asphalt
• Windows: Egress windows
• General: BrickTwoBasementBlock

Location

• Road/Access: Cul de sacPaved
• Originating MLS: Realcomp II Ltd
• School District: Grosse pointe
• County: Wayne

Lot

• Zoning: CYL1 THAT PART OF PRIVATE CLAIM 239 DESCRIBED AS BEGINNING AT A POINT ON THE SLY LINE OF ST PAUL AVE DISTANT ELY 178.80 FT FROM THE ELY LINE OF ST CLAIR AVE AND PROCEEDING TH SLY ON A LINE PARALLEL TO THE ELY LINE OF ST CLAIR AVE 437.89 FT TH ELY PAR ALLEL TO THE NLY LINE OF MAUMEE AVE 114.20 FT TH NLY ON A LINE PARALLEL TO THE ELY LINE OF ST CLAIR AVE 436.72 FT TO THE SLY LINE OF ST PAUL AVE TH WLY ALONG SAID SLY LINE 114.20 FT TO THE POB EXCEPT THE ELY 22 FT OF THE WLY 24 FT OF THE NLY 350 FT T HEREOF 0.97 ACRE K 429.4837004990009000

Utilities

• Utilities: Above ground utilities
• Water: Public
• Sewer: Public sewer

Financial

• Source: Realcomp II Ltd