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516 Neff Lane Lane, 
Grossepointe, MI 48230

$3,995,000


Bed


20

Baths


16,080

Sq Ft


Multi-Family

Active

Listed by

Mackenzie Laforest

Pinnacle Plus Realty LLC.

248-893-7795

Last updated:

March 5, 2026, 10:56 AM

MLS#

20261004006

Source:

MI REALCOMP

About This Home

516 Neff Lane Lane

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.

Home Facts

Multi-Family

20 Baths

Built in 1972

Price Summary

3,995,000

$248 per Sq. Ft.

MLS #:

20261004006

Last Updated:

March 5, 2026, 10:56 AM

Added:

a month ago


Rooms & Interior

Bathrooms

Total Bathrooms:

20

Full Bathrooms:

20

Interior

Living Area:

16,080 Sq. Ft.


Structure

Structure

Architectural Style:

Upper Lower Apartment

Year Built:

1972


Lot

Lot Size (Sq. Ft):

42,253


Finances & Disclosures

Finances

Price:

$3,995,000

Price per Sq. Ft:

$248 per Sq. Ft.

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Contact an Agent

Yes, I would like more information. Please use and/or share my information with a Coldwell Banker ® affiliated agent to contact me about my real estate needs. By clicking Contact, I request to be contacted by phone or text message and consent to being contacted by automated means. I understand that my consent to receive calls or texts is not a condition of purchasing any property, goods, or services. Alternatively, I understand that I can access real estate services by email or I can contact the agent myself.

If a Coldwell Banker affiliated agent is not available in the area where I need assistance, I agree to be contacted by a real estate agent affiliated with another brand owned or licensed by Anywhere Real Estate (BHGRE®, CENTURY 21®, Corcoran®, ERA®, or Sotheby's International Realty®). I acknowledge that I have read and agree to the terms of use and privacy notice.