6442-6460 Michigan Ave - Apartments FOR SALE


Detroit, MI 48210- Southwest Detroit
$2,000,000 USD
734-680-0189
6442-6460 Michigan Ave, Detroit, MI for Sale
$2,000,000 USD
Apartments - FOR SALE
1/6
null | 10.3% Cap Rate

6442-6460 Michigan Ave
Detroit, MI 48210
Southwest Detroit


HIGHLIGHTS

  • Public Transportation
  • Large Units Available -13 3/br
  • 10 min from Downtown

OVERVIEW

PRICE REDUCED! Best Offers by 2.18.26 Open House each Saturday 12 noon-2:00 pm Mixed Use Apartment Building Please note that the real estate taxes have recently been reduced through arbitration with the Michigan Tax Tribunal and are now approximately $31,000 annually. Utilities are very minimal, as tenants pay for all utilities, including electric, gas, and hot water. Each unit has its own hot water tank. The unit finishes are considered high-end, with over $100,000 invested in unit improvements, and the property remains in excellent condition. Equally important is the neighborhood. It is a working-class community, very well-kept, with clean homes and beautifully maintained landscaping. It is a solid, stable area and, in my opinion, makes this property a strong long-term investment. Please feel free to reach out with any questions or to discuss next steps. Best regards, see attached Brochure

FOR SALE DETAILS

PRICE

$2,000,000 USD

PRICE/SF

$65 USD /SF

# OF UNITS

31

PRICE/UNIT

$64,516

CAP RATE

10.3%

% LEASED

58%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Galston

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential, Dormitory

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1935

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.23 AC

LAND SF

10,019 SF

ZONING

B4

APN/PARCEL ID

18-002457

ASK ABOUT THIS PROPERTY

Jenise PewittStrather & Associates, Inc.More Info
734-680-0189

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Jenise PewittStrather & Associates, Inc.More Info
734-680-0189

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.