Building Details

Year Built 1923

Listing Agency: SCS Great Lakes INC t***@gmail.com Show Phone

Listed By: Kevin Mahone · License #MISPE-6501414475 Show Phone

Source: Elliman

Added: Mar 11 Changed: Jul 6 Last Checked: Aug 5 at 7:53AM

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Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of SCS Great Lakes INC

Investment Insights

Based on property information with market context.

Located in Detroit's Garden Heights Subdivision, between Mack Avenue and Charlevoix Street, the property at 2950 Lakewood Street is an owner-occupied duplex multifamily property. Both the upstairs and downstairs units feature 3 bedrooms and 1 bath. Offered for sale in its current condition, this property presents an investment opportunity with potential for rental income and value appreciation. The property can be renovated and both units rented out, or improvements can be made for future resale. This property is poised for success in the rental market.

Key Highlights

• Duplex multifamily property with two units, each featuring 3 bedrooms and 1 bath.
• Prime location in Detroit's Garden Heights Subdivision, between Mack Avenue and Charlevoix Street.
• Attractive investment opportunity with potential for rental income.

Property Analytics

Property Profile

Current Use

Duplexes

Suggested Use

Top Pick Dental Office Real Estate Agency HVAC Service (Bike/Boat/Book/etc) Store Parking Lot & Garage Spa & Massage Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

107

Businesses Nearby

Explore this area Business Placement

Demographics for 48215, MI

10,520

Population

6,044

Households

1.7

Avg Household Size

41

Median Age

19%

College-Educated

85%

High-School Grad

3.9 sq mi

ZIP Area

2,697

Density / Sq Mi

$33,741

Median Household Income

$36,728

Median Earnings

$897

Median Rent

$105,400

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - Duplex in Detroit's Garden Heights Subdivision, investment opportunity.

Where is this duplex located?

The property is located at 2950 LAKEWOOD St Detroit, MI.

What is the asking price?

The asking price for this property is $99,999.

What are key features of this property?

This property features: Duplex multifamily property with **two units, each featuring 3 bedrooms and 1 bath.**; Prime location in Detroit's Garden Heights Subdivision, between Mack Avenue and Charlevoix Street.; Attractive investment opportunity with potential for rental income.