About 1583 Cadillac Boulevard
Incredible Investment Opportunity – Perfect for Elder Care or Student Housing! Welcome to your next high-return investment in the heart of Downtown Detroit! This beautifully renovated three-story historic home offers a unique opportunity to generate significant rental income, whether you're seeking to establish an elder care facility or take advantage of demand for off-campus housing near Wayne State University. Boasting Approximately 3,600 sq ft of meticulously restored living space, this residence features custom finishes throughout, from extended, built-in cabinetry to original early-1900s Detroit tilework in the bathrooms. Each spacious bedroom offers the potential to generate $2,000–$3,000 per month in rent, creating a projected gross income of over $10,000/month when fully occupied. The property’s layout is ideal for shared living, with multiple bathrooms, generous common areas, and a third-floor suite perfect for staff quarters or a premium rental unit. The home also includes a full basement that can be divided into individual storage units for each resident, adding valuable utility and convenience. With two kitchen areas, residents can enjoy greater flexibility and comfort in meal preparation. Stairs can be easily outfitted with stairlifts, making the property more accessible for elderly residents. Additionally, a privacy fence can be installed around the perimeter to create a safe and enclosed environment for all occupants. The exterior is just as impressive, with period-accurate paint from the 1901 East Village catalogue adding charm and curb appeal. Located in a high-demand area with walkable access to restaurants, entertainment, and major institutions, this property is a rare chance to capitalize on Detroit’s growing need for elder care housing or student accommodations. Don’t miss this opportunity to turn a piece of Detroit’s architectural legacy into a thriving income generating business!
