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10-Unit Renovated Apartment Building

2683 Central, Detroit, MI 48209

For Sale
$735,000

Each residence has a two-bedroom, one-bathroom layout, with building systems and exterior improvements completed in 2019.

Property SizeContact for details
Days on Market32

Property Features for 2683 Central

General Information

Standard status Active
Property subtype Multi Family

Site & Location

Neighborhood Springwells

Units

Unit Mix 10 x 2BR/1BA
Multifamily Units 10

Building Details

Year Renovated 2019
Buildings 1
Listing Agency: O'Connor Realty Detroit, LLC
Listed By: Vincent Mazzola · License MI #6501387170
Source: Charterpropertiesgr
Added: Oct 14 Changed: Nov 7 Last Checked: Nov 12 at 7:27AM

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 O'Connor Realty Detroit, LLC

Rey
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Investment Insights

Based on property information with market context.

This 10-unit apartment property in Southwest Detroit offers two bedrooms and one bathroom in each residence. A 2019 renovation covered interior improvements, replacement of the boiler and steam traps, a new roof, and façade restoration.

The garden level may accommodate an additional unit, according to the property information. The source also identifies the PILOT program as a potential property-tax reduction measure.

Key Highlights

  • 10 apartments, each with 2 bedrooms and 1 bathroom
  • Renovated in 2019, including interior improvements and façade restoration
  • Boiler and steam traps replaced; roof replaced in 2019

Property Analytics

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Lease Details

10
Residential units

Location Intelligence

Trade Area within ½ mile

465
Businesses Nearby

Demographics for 48209, MI

27,096
Population
11,020
Households
2.5
Avg Household Size
30
Median Age
10%
College-Educated
61%
High-School Grad
6.8 sq mi
ZIP Area
3,985
Density / Sq Mi
$42,152
Median Household Income
$30,091
Median Earnings
$843
Median Rent
$82,800
Median Home Value
Check the figures for this property Cap Rate, Value Estimation, Potential NOI and more
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Market

Average Price Trend$/SF for Apartment buildings in Detroit, MI

$140 Jul
$147 Aug
$118 Sep
$125 Oct

Properties on Market for Apartment buildings in Detroit

Jul
Aug
Sep
Oct

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022
7.5% 2023
7.8% 2024
8% 2025

Frequently Asked Questions

What type of property is this?
Apartment building - Each residence has a two-bedroom, one-bathroom layout, with building systems and exterior improvements completed in 2019.
Where is this apartment building located?
The property is located at 2683 Central Detroit, MI.
What is the asking price?
The asking price for this property is $735,000.
What are key features of this property?
This property features: 10 apartments, each with 2 bedrooms and 1 bathroom; Renovated in 2019, including interior improvements and façade restoration; Boiler and steam traps replaced; roof replaced in 2019
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