Brick Quadplex Requiring
3465 Wager Street, Detroit, MI 48206
For Sale
Contact for pricing
Multifamily, 2 Story, Detroit, MI
Property Size3,326 SF
Lot Size0.08 Acres
Price / SF$7.52
Days on Market413
Property Features for 3465 Wager Street
General Information
Property type
Property subtype
Zoning
Bedrooms
Bathrooms
Full bathrooms
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Pets allowed
Subdivision
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Middle school district
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Size
Lot size
Taxes and HOA fees
Tax Description
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Legal Description
Utilities
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Building Details
Year built
Floors in Building
Number of units
Building materials
Architectural style
Listing Agency:
Bellabay Realty Tri Counties
Listed By:
Natasha C Richards · License MI #6502385914
(248) 274-6614
Added: Sep 24, 2025
Changed: Oct 26
Last Checked: Nov 10 at 7:06PM
MLS# 20251036430
Copyright © 2026 Realcomp Limited II. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 3,326-square-foot quadplex contains four units within a two-story brick building constructed in 1923. The property includes a basement, public water service, forced-air heating, and Colonial architectural styling. The building requires full rehabilitation, making its current physical condition a central consideration for purchasers.
Located at 3465 Wager Street in Detroit, Michigan, the property sits on a 0.08-acre lot and carries Multi-Family, Residential zoning. The sale is contingent on an executed development agreement. Proposals must include proof of funds, development timelines, offer amounts, renovation experience, project addresses, and before-and-after photographs. The Detroit Land Bank Authority retains tax-capture rights for the five tax years following transfer, subject to its review of any waiver request.
Located at 3465 Wager Street in Detroit, Michigan, the property sits on a 0.08-acre lot and carries Multi-Family, Residential zoning. The sale is contingent on an executed development agreement. Proposals must include proof of funds, development timelines, offer amounts, renovation experience, project addresses, and before-and-after photographs. The Detroit Land Bank Authority retains tax-capture rights for the five tax years following transfer, subject to its review of any waiver request.
Key Highlights
- Four‑unit quadplex with 3,326 square feet
- 0.08‑acre lot at 3465 Wager Street, Detroit, MI 48206
- Brick construction with Colonial architectural style
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,892
Suggested Prices Based on Cap Rates
Cap Rate 5%
$697,840
$697.8K
Cap Rate 7%
$498,457
$498.5K
Cap Rate 9%
$387,689
$387.7K
Market Conditions
NOI Build-Up for 3,326 SF
Gross rent
$67.9K $20.40/SF
− Vacancy
−$4.4K −$1.33/SF
EGI
$63.4K $19.07/SF
− OpEx
−$28.5K −$8.58/SF
NOI
$34.9K $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%
$697,840
Cap Rate 7%
$498,457
Cap Rate 9%
$387,689
Alternative Uses
Best Use
Multifamily LT 5
$543.0K
$475.1K – $633.5K
NOI $38,011 @ 7.0% cap
Second Best
Apartment 5plus
$498.5K
$436.2K – $581.5K
NOI $34,892 @ 7.0% cap
Theoretical Best
Office A
$733.7K
$642.0K – $856.0K
NOI $51,361 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
281
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 - Two-story four-unit building with brick construction and forced-air heat.
Where is this quadplex located?
The property is located at 3465 Wager Street Detroit, MI.
What are key features of this property?
This property features: Four‑unit quadplex with 3,326 square feet; 0.08‑acre lot at 3465 Wager Street, Detroit, MI 48206; Brick construction with Colonial architectural style
