Turnkey Three-Unit
For Sale
$249,500
309 Melbourne St, Detroit, MI 48202
Three-unit residential investment with newer finishes; two units are tenant-occupied and one lease lapsed March 1.
Days on Market97
Property Features for 309 Melbourne St
General Information
Standard status
Active
Property subtype
Investment
Building Details
Year Built
1915
Listing Agency:
Lucido & Assoc. Realtors
(313) 995-3587
Listed By:
Matthew Jankowski · License #MISPE-6502119186
(313) 995-3587
Source:
Elliman
Added: Apr 28
Changed: Jul 20
Last Checked: Aug 1 at 12:40PM
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 Lucido & Assoc. Realtors
Investment Insights
Based on property information with market context.
This turnkey three-unit multifamily property features newer finishes throughout, designed to reduce the need for immediate upfront capital expenditures. Two of the three units are currently tenant-occupied, and the third unit’s lease recently lapsed as of March 1.
The property is in Detroit and is described as conveniently located just minutes from Woodward Avenue, Wayne State University, and Little Caesars Arena, with access to downtown amenities, dining, and entertainment.
For investors seeking an income-focused addition to an existing portfolio, the property offers current in-place occupancy alongside a recently lapsed unit that presents a leasing opportunity.
The property is in Detroit and is described as conveniently located just minutes from Woodward Avenue, Wayne State University, and Little Caesars Arena, with access to downtown amenities, dining, and entertainment.
For investors seeking an income-focused addition to an existing portfolio, the property offers current in-place occupancy alongside a recently lapsed unit that presents a leasing opportunity.
Key Highlights
- 1915‑built three‑unit multi‑family property in Detroit
- Two units are currently tenant‑occupied
- Third‑floor lease recently lapsed on March 1
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,721
Businesses Nearby
Explore this area
Business Placement
Demographics for 48202, MI
17,260
Population
10,078
Households
1.7
Avg Household Size
32
Median Age
38%
College-Educated
91%
High-School Grad
3.4 sq mi
ZIP Area
5,076
Density / Sq Mi
$36,536
Median Household Income
$31,725
Median Earnings
$894
Median Rent
$193,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit residential investment with newer finishes; two units are tenant-occupied and one lease lapsed March 1.
Where is this triplex located?
The property is located at 309 Melbourne St Detroit, MI.
What is the asking price?
The asking price for this property is $249,500.
What are key features of this property?
This property features: 1915‑built three‑unit multi‑family property in Detroit; Two units are currently tenant‑occupied; Third‑floor lease recently lapsed on March 1
