Five-Unit Apartment
4830 Grayton, Detroit, MI 48224
For Sale
$295,000
As-is five-unit building with five 1-bedroom units, coin-op basement laundry, and updated boiler installed in 2023.
Property Size2,922 SF
Price / SF$100.96
Days on Market197
Property Features for 4830 Grayton
General Information
Standard status
Size
Property subtype
Occupancy
Site & Location
Neighborhood
Additional Details
Multifamily Units
Amenities
laundry facility
Building Details
Year Built
Tenancy
Listing Agency:
Detroit Investment Company
Listed By:
Mark Hutter · License MI #6502372594
(734) 469-4607
Source:
Premiermichiganhomesearch
Added: Apr 28
Changed: Nov 9
Last Checked: Nov 10 at 11:00AM
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 Detroit Investment Company
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Investment Insights
Based on property information with market context.
This five-unit apartment investment property includes five 1-bedroom units. Each unit has one bedroom and one bathroom with hardwood floors, and includes a fridge and stove. The basement laundry facility offers coin-operated washer and dryer service. A new boiler was installed in 2023, and the seller has completed some renovations throughout the building. All five units are currently tenanted, with stated rent and lease terms varying by unit.
Tenant residents pay electric and cooking gas for their units. The owner is responsible for gas for heat, water, sewer, snow removal, and lawn maintenance. The property is sold as-is, and all dimensions are estimated and should be verified by the buyer. Buyer to pay a $295 processing fee at closing.
Tenant residents pay electric and cooking gas for their units. The owner is responsible for gas for heat, water, sewer, snow removal, and lawn maintenance. The property is sold as-is, and all dimensions are estimated and should be verified by the buyer. Buyer to pay a $295 processing fee at closing.
Key Highlights
- Five‑unit multi‑family property with five 1‑bedroom units
- New boiler installed in 2023; property sold as‑is
- Each unit includes 1 bedroom and 1 bathroom with hardwood floors, fridge, and stove
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,507
Cap Rate
8.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$530,140
$530.1K
Cap Rate 7%
$378,671
$378.7K
Cap Rate 9%
$294,522
$294.5K
Market Conditions
NOI Build-Up for 2,922 SF
Gross rent
$51.5K $17.64/SF
− Vacancy
−$3.4K −$1.15/SF
EGI
$48.2K $16.49/SF
− OpEx
−$21.7K −$7.42/SF
NOI
$26.5K $9.07/SF
Area
ZIP 48224
Vacancy
6.50%
Lease Rate
$17.64 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$530,140
Cap Rate 7%
$378,671
Cap Rate 9%
$294,522
Alternative Uses
Best Use
Apartment 5plus
$378.7K
$331.3K – $441.8K
NOI $26,507 @ 7.0% cap · market cap 8.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$737.0K
$644.9K – $859.9K
NOI $51,592 @ 7.0% cap · market cap 17.49%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
5
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
477
Businesses Nearby
Explore this area
Business Placement
Demographics for 48224, MI
39,633
Population
16,786
Households
2.4
Avg Household Size
33
Median Age
14%
College-Educated
84%
High-School Grad
5.8 sq mi
ZIP Area
6,833
Density / Sq Mi
$42,963
Median Household Income
$30,997
Median Earnings
$1,213
Median Rent
$77,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Apartment buildings in Detroit, MI
Properties on Market for Apartment buildings in Detroit
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - As-is five-unit building with five 1-bedroom units, coin-op basement laundry, and updated boiler installed in 2023.
Where is this apartment building located?
The property is located at 4830 Grayton Detroit, MI.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: Five‑unit multi‑family property with five 1‑bedroom units; New boiler installed in 2023; property sold as‑is; Each unit includes 1 bedroom and 1 bathroom with hardwood floors, fridge, and stove
