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    2987 Gladstone St Detroit, MI 48206

    For Sale
    $175,000

    34-unit apartment building on Detroit's West Side.

    Lot size:
    0.29 Acres

    Property Features for 2987 Gladstone St

    General Information

    Lot size
    0.29 Acres

    Building Details

    Year built
    1925

    Source: Detroit Progress Realty LLC Agent Mikhail Grigoryan

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    34-Unit Apartment Building Opportunity

    This is a rare opportunity to own a 34-unit apartment building located on Detroit's West Side in the Jamison Neighborhood. The property is situated near Wildemere Park, Boston Edison, Henry Ford Hospital, and New Center, with convenient access to Downtown and Midtown. The building comprises 26 one-bedroom units, 4 two-bedroom units, and 4 three-bedroom units. There is potential to acquire additional lots and land surrounding the building and on the block through the city. Note: the buyer must submit a demo deferral application after closing with the City of Detroit.
    Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Detroit
    County
    Wayne
    State
    Michigan
    Longitude
    -83.1111639
    Latitude
    42.3689522

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    FAQs

    What type of property is this?
    Apartment building - 34-unit apartment building on Detroit's West Side.
    Where is this apartment building located?
    The property is located at 2987 Gladstone St Detroit, MI.
    What is the asking price?
    The asking price for this property is $175,000.
    What are key features of this property?
    This property features: - 34-unit apartment building in Detroit's Jamison Neighborhood; - Diverse unit mix: 26 one-bed, 4 two-bed, and 4 three-bed units; - Proximity to Wildemere Park, Boston Edison, Henry Ford Hospital, and New Center
    (313) 888-6060
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2987 Gladstone St Detroit, MI 48206
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