4742-4754 Anthony Wayne Drive 4742, Detroit, MI 48201
Nine-unit multifamily building near Wayne State and Midtown demand drivers, offering an investor-focused income profile.
- Added:
- Jun 26, 2026
- Days on Market:
- 11
- Last Refresh:
- Jul 4 at 2:11 am
Property Features for 4742-4754 Anthony Wayne Drive 4742
General Information
- Standard status
- Active
- Size
- 12,658 SF
- Property subtype
- Multifamily, Land
Building Details
- Year Built
- 1913
Listing office RE/MAX Dream Properties (734) 462-3600
Listing date Jun 26, 2026
Source Crexi
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 RE/MAX Dream Properties
HighLights
- 9‑unit multifamily building
- Year built: 1913
- Offered at $2,100,000
- Reported 8.1% cap rate
- Located near Wayne State University and Midtown demand drivers
Overview
The building is located in Midtown Detroit and positioned near Wayne State University, as well as the Medical Center and other major Midtown demand drivers referenced in the materials. This proximity can be relevant for tenants seeking convenient access to established employment and education centers.
For buyers and operators, this 9-unit configuration offers straightforward scale within a single multifamily property. The offering is presented as a well-located investment in a recognized rental corridor, with the seller noting additional upside potential. Interested parties should review the operating history and lease details directly to confirm current income, expenses, and the basis for any projected performance changes.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $258.2k | $20.40 |
| − Vacancy | −$16.8k | −$1.33 |
| EGI | $241.4k | $19.07 |
| − OpEx | −$108.6k | −$8.58 |
| NOI | $132.8k | $10.49 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Detroit
- County
- Wayne
- State
- Michigan
- Longitude
- -83.070031
- Latitude
- 42.35272
