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Apartment Building with Renovation Underway

3017 W Buena Vista St, Detroit, MI 48238

For Sale
$799,000

Renovation work has begun in part of this vacant multifamily property, with the balance still requiring work.

Property Size29,726 SF
Lot Size0.37 Acres
Price / SF$26.88
Days on Market52

Property Features for 3017 W Buena Vista St

General Information

Standard status Active
Size 29,726 SF
Lot size 0.37 Acres
Property subtype Investment

Property Condition

Severity Repairs Needed
Evidence requires renovation

Site & Location

Neighborhood Oakman Blvd.
Highway Access Yes
Public Transit Yes

Additional Details

Multifamily Units 36

Taxes and HOA fees

Annual Taxes $32,895

Building Details

Building Size 29,726 SF
Year Built 1928
Units 36
Listing Agency: Forward Commercial Group
Listed By: Emil Cherkasov · License MI #6502392741
Source: Elliman
Added: Sep 24 Changed: Oct 30 Last Checked: Nov 12 at 9:06AM

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 Forward Commercial Group

Rey
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Investment Insights

Based on property information with market context.

This vacant apartment complex contains 36 units across 29,726 square feet on a 0.37-acre site. Built in 1928, the building has renovation work underway in approximately half of its area, including electrical, plumbing, drywall, window, and roof improvements. The remaining portion requires renovation. The property is being sold through a receivership sale.

The complex is near the University of Detroit Mercy, Wayne State University, and the Boston-Edison Historic District. Access to I-75, I-96, and M-10 is also noted. The existing work and remaining renovation define the building’s current physical condition.

Key Highlights

  • 36‑unit vacant apartment complex
  • 29,726 square feet on 0.37 acres
  • Built in 1928

Property Analytics

Who owns this building? See the owner, sales and loan history
Open Analytics

Lease Details

36
Residential units
Yes
Highway access

Location Intelligence

Trade Area within ½ mile

414
Businesses Nearby

Demographics for 48238, MI

25,747
Population
16,341
Households
1.6
Avg Household Size
37
Median Age
13%
College-Educated
84%
High-School Grad
5.4 sq mi
ZIP Area
4,768
Density / Sq Mi
$30,286
Median Household Income
$25,948
Median Earnings
$950
Median Rent
$58,700
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 - Renovation work has begun in part of this vacant multifamily property, with the balance still requiring work.
Where is this apartment building located?
The property is located at 3017 W Buena Vista St Detroit, MI.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: 36‑unit vacant apartment complex; 29,726 square feet on 0.37 acres; Built in 1928
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