Detroit Quadruplex Near New
2704 Hogarth St, Detroit, MI 48206
For Sale
Contact for pricing
Four-unit brick building near New Center area with investment potential.
Property Size3,862 SF
Price / SF$6.47
Days on Market201
Property Features for 2704 Hogarth St
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Building Details
Year Built
Listing Agency:
Real Estate One-Southfield
Listed By:
Gene Kelley II · License MI #6501293908
(248) 506-1257
Source:
Premiermichiganhomesearch
Added: Apr 24
Changed: Nov 10
Last Checked: Nov 1 at 10:27AM
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 Real Estate One-Southfield
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Investment Insights
Based on property information with market context.
This four-unit brick quadplex offers over 3000 square feet of living space, with each unit featuring two bedrooms. Located near the New Center area, the property presents a significant opportunity for investment. The building requires extensive rehabilitation. The Detroit Land Bank Authority (DLBA) is entitled to a tax capture for the five tax years following the transfer of ownership. This tax capture may not be compatible with tax abatements or lot combinations. The DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes. Potential buyers are required to prepare a proposal/proforma to qualify for purchase, according to DLBA proposal guidelines. The location is bikeable with a score of 68, car-dependent with a score of 40, and has good transit with a score of 50.
Key Highlights
- Four 2‑bedroom units in a single building (Quadruplex).
- Over 3000 sq ft of total living space.
- Brick construction.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,515
Suggested Prices Based on Cap Rates
Cap Rate 5%
$810,300
$810.3K
Cap Rate 7%
$578,786
$578.8K
Cap Rate 9%
$450,167
$450.2K
Market Conditions
NOI Build-Up for 3,862 SF
Gross rent
$78.8K $20.40/SF
− Vacancy
−$5.1K −$1.33/SF
EGI
$73.7K $19.07/SF
− OpEx
−$33.1K −$8.58/SF
NOI
$40.5K $10.49/SF
Area
Detroit, MI
Vacancy
6.50%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$810,300
Cap Rate 7%
$578,786
Cap Rate 9%
$450,167
Alternative Uses
Best Use
Multifamily LT 5
$630.5K
$551.7K – $735.6K
NOI $44,137 @ 7.0% cap
Second Best
Apartment 5plus
$578.8K
$506.4K – $675.3K
NOI $40,515 @ 7.0% cap
Theoretical Best
Office A
$852.0K
$745.5K – $994.0K
NOI $59,638 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Location Intelligence
Trade Area within ½ mile
429
Businesses Nearby
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Business Placement
Demographics for 48206, MI
15,712
Population
10,784
Households
1.5
Avg Household Size
38
Median Age
24%
College-Educated
89%
High-School Grad
3.1 sq mi
ZIP Area
5,068
Density / Sq Mi
$43,702
Median Household Income
$36,674
Median Earnings
$923
Median Rent
$102,300
Median Home Value
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Market
Average Price Trend$/SF for Quadplexes in Detroit, MI
Properties on Market for Quadplexes in Detroit
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit brick building near New Center area with investment potential.
Where is this quadplex located?
The property is located at 2704 Hogarth St Detroit, MI.
What are key features of this property?
This property features: Four 2‑bedroom units in a single building (Quadruplex).; Over 3000 sq ft of total living space.; Brick construction.
