Updated Apartment Building Investment
For Sale
$900,000
3737 Scovel Place, Detroit, MI 48208
MULTI_FAMILY - Detroit, MI
Property SizeContact for details
Lot Size0.15 Acres
Days on Market797
Property Features for 3737 Scovel Place
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
1
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 1, Basement, Bathroom 2
Parking
12
Basement
Full
Elementary school district
Detroit
Middle school district
Detroit
High school district
Detroit
Directions
From the I-96 go west on West Grand Blvd, turn south on Scovel Place, the property is one the right side of the street
Subdivision
Wayne County - 100
Standard status
Active
APN
12009873.
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2023
Tax Description
S SCOVEL PLACE 5 E 1/2 4 MC LAUGHLINS SUB L22 P53 PLATS, W C R 12/106 45 X 140.18
Tax Annual Amount
12844
Legal Description
S SCOVEL PLACE 5 E 1/2 4 MC LAUGHLINS SUB L22 P53 PLATS, W C R 12/106 45 X 140.18
Utilities
Utilities
Natural Gas Available
Heating system
Radiant
Building Details
Year built
1927
Number of units
20
Building materials
Brick
Roof type
Rubber
Listing Agency:
Golden Key Real Estate LLC
(313) 638-2474
Listed By:
Ryan Heward · License #6502401117
(248) 251-4670
Added: Jun 7, 2024
Changed: Jul 25
Last Checked: Aug 12 at 3:06AM
MLS# 24029554
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Investment Insights
Based on property information with market context.
This is an investment opportunity featuring a newly updated 20-unit apartment building with leases in place. The property is conveniently located less than 10 minutes from downtown Detroit and just 5 minutes from midtown. Ample parking is available in an attached concrete lot directly next to the building. The entire building has been rental certified and has passed lead inspection by the city of Detroit. The unit mix consists of 10 one-bedroom units and 10 studio units. The majority of all units have newer flooring, paint, and lighting. All unit doors are equipped with steel doors with keyless/digital entry as well as deadbolt locks. Each unit is separately metered for electricity, and tenants pay their own electric bills. All one-bedroom units have new furnaces and AC units. Each studio unit has new mini-split systems that have heat and AC. The majority of the plumbing stacks have been replaced. The front door has new hinges and a locking mechanism, and the back door is an all-new steel door. The roof was aluminum seal coated in 2016, and the hot water tank for the entire building was replaced in 2016. The entire building has newer windows. All common areas have new LED light fixtures. A new camera system has been installed throughout the building and outside. The lot size is 0.15 acres.
Key Highlights
- Brick apartment building built in 1927 with rental certification and a city‑passed lead inspection
- 20 units total: 10 one‑bedroom and 10 studio units, currently occupied with leases in place
- Separate electric metering for each unit; tenants pay their own electric bills
Property Analytics
Property Profile
Current Use
Lease Details
20
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
342
Businesses Nearby
Explore this area
Business Placement
Demographics for 48208, MI
8,090
Population
5,226
Households
1.5
Avg Household Size
37
Median Age
27%
College-Educated
79%
High-School Grad
3.2 sq mi
ZIP Area
2,528
Density / Sq Mi
$29,742
Median Household Income
$39,526
Median Earnings
$842
Median Rent
$186,700
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?
Apartment building - Newly updated 20-unit apartment building near downtown Detroit.
Where is this apartment building located?
The property is located at 3737 Scovel Place Detroit, MI.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: Brick apartment building built in 1927 with rental certification and a city‑passed lead inspection; 20 units total: 10 one‑bedroom and 10 studio units, currently occupied with leases in place; Separate electric metering for each unit; tenants pay their own electric bills
