Renovated
For Sale
Contact for pricing
2573 TOWNSEND ST, Detroit, MI 48214
Two-unit multifamily asset with furnished spaces and included kitchen and laundry appliances.
Property Size2,800 SF
Price / SF$130.36
Days on Market98
Property Features for 2573 TOWNSEND ST
General Information
Standard status
Active
Size
2,800 SF
Property subtype
Multifamily
Zoning
Multifamily
Additional Details
Multifamily Units
2
Amenities
refrigerator
dishwasher
washer-dryer
microwave
Building Details
Year Built
1918
Year Renovated
2023
Buildings
1
Stories
2
Units
2
Tenancy
Multi
Listing Agency:
Signature Sotheby's International Realty
Listed By:
Brandon Curry · License #MI
(313) 303-7263
Source:
Crexi
Added: Jul 6
Changed: Sep 7
Last Checked: Oct 11 at 6:03AM
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 Signature Sotheby's International Realty
Investment Insights
Based on property information with market context.
This 2,800-square-foot duplex contains two furnished units and has undergone extensive updates within the last 3 years. Improvements include a new roof, electrical, heating, plumbing, insulation, flooring, kitchens, bathrooms, and replacement windows. Each unit includes a refrigerator, dishwasher, washer-dryer, and microwave.
The property is located in Detroit’s Islandview neighborhood and carries Multifamily zoning. Belle Isle, the River Walk, and West Village are identified as accessible area destinations. Originally built in 1918, the building combines an established structure with recently completed system and interior renovations.
The property is located in Detroit’s Islandview neighborhood and carries Multifamily zoning. Belle Isle, the River Walk, and West Village are identified as accessible area destinations. Originally built in 1918, the building combines an established structure with recently completed system and interior renovations.
Key Highlights
- 2,800‑square‑foot duplex with two furnished units
- Renovated within the last 3 years
- Updates include roof, electrical, heating, plumbing, insulation, floors, kitchens, bathrooms, and windows
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,000
Cap Rate
8.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$640,000
$640.0K
Cap Rate 7%
$457,143
$457.1K
Cap Rate 9%
$355,556
$355.6K
Market Conditions
NOI Build-Up for 2,800 SF
Gross rent
$48.7K $17.40/SF
− Vacancy
−$3.0K −$1.07/SF
EGI
$45.7K $16.33/SF
− OpEx
−$13.7K −$4.90/SF
NOI
$32.0K $11.43/SF
Area
Detroit, MI
Vacancy
6.17%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$640,000
Cap Rate 7%
$457,143
Cap Rate 9%
$355,556
Alternative Uses
Best Use
Multifamily LT 5
$457.1K
$400.0K – $533.3K
NOI $32,000 @ 7.0% cap · market cap 8.77%
Second Best
Apartment 5plus
$419.6K
$367.2K – $489.6K
NOI $29,374 @ 7.0% cap · market cap 8.05%
Theoretical Best
Office A
$617.7K
$540.5K – $720.6K
NOI $43,238 @ 7.0% cap · market cap 11.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
408
Businesses Nearby
Explore this area
Business Placement
Demographics for 48214, MI
18,959
Population
13,279
Households
1.4
Avg Household Size
44
Median Age
27%
College-Educated
84%
High-School Grad
5.1 sq mi
ZIP Area
3,717
Density / Sq Mi
$34,807
Median Household Income
$36,625
Median Earnings
$818
Median Rent
$120,500
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?
Duplex - Two-unit multifamily asset with furnished spaces and included kitchen and laundry appliances.
Where is this duplex located?
The property is located at 2573 TOWNSEND ST Detroit, MI.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: 2,800‑square‑foot duplex with two furnished units; Renovated within the last 3 years; Updates include roof, electrical, heating, plumbing, insulation, floors, kitchens, bathrooms, and windows
