Listing Courtesy of: Philip Lang - Re/Max Connection
248-505-2509
$650,000
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MCGRAW Street Detroit, MI 48208
Multi-Family
Residence
Beds
27
Baths
Sq. Ft.
0.38
Acre
Lot
Property Activity
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AMAZING REDEVELOPMENT OPPORTUNITY ON THIS 27 UNIT BUILDING IN THE GRAND BLVD/ MCGRAW CORRIDOR. WEST OF WAYNE STATE, WOODBRIDGE, NW GOLDBERG AND SOUTH OF CORKTOWN. MANY DEVELOPMENTS PLANNED IN THE AREA. THE BUILDING NEEDS A FULL REHAB. GREAT UNIT MIX AND GENEROUS APARTMENTS SIZES. ADDITIONAL SPACE IN... THE LOWER LEVEL TO ADD UNITS. SELLER HAS PLANS FOR AN ADDITIONAL NEW 38 UNIT BUILDING AND SEVERAL TRI PLEXES NEXT DOOR. Expenses estimated at 6% mgmt fee = $19,872. Taxes $20,000. Insurance $15,000. Rehab estimated at $1 Million. Total $1,675 Million (16.7 Cap)
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Source MLS
Real Comp
Originating MLS
Realcomp II Ltd
MLS#
20240020791
Property Type
Multi-Family
Bathrooms
27 Full
Year Built
1920
Lot Size
0.38
Stories
3.0
Sewer
Sewer at Street
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