Detroit Multifamily Investment
For Sale
$315,000
6349 Barlum St, Detroit, MI 48210
Four-unit property in Southwest Detroit near downtown and freeways.
Property Size2,518 SF
Price / SF$125.10
Days on Market153
Property Features for 6349 Barlum St
General Information
Standard status
Active
Size
2,518 SF
Property subtype
Multi-Family
Building Details
Year Built
1925
Listing Agency:
Munoz Realty Inc
Listed By:
Gaston Munoz · License #6501354648
(313) 918-6388
Source:
Premiermichiganhomesearch
Added: May 15
Changed: Oct 11
Last Checked: Oct 13 at 1:26AM
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 Munoz Realty Inc
Investment Insights
Based on property information with market context.
Located in Southwest Detroit, this property features four units, each with one bedroom and one bathroom. The building has been renovated and includes upgrades such as a new roof, new plumbing and sewer lines, new windows, and a new electrical system. Each unit is equipped with a new furnace and hot water tank, and the bathrooms have been fully renovated. The property is situated minutes from Downtown Detroit, offering convenient access to restaurants, schools, local businesses, and freeways. The property is currently generating $4,000 per month in income. The location has a Walk Score of 73, indicating it is very walkable, a Bike Score of 68, indicating it is bikeable, and a Transit Score of 41, indicating some transit options are available.
Key Highlights
- Generating $4,000 per month in rental income.
- Fully renovated with new roof, plumbing, sewer, windows, electrical system, furnace, and hot water tank.
- Four units, each with 1 bed and 1 bath.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,777
Cap Rate
9.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$575,540
$575.5K
Cap Rate 7%
$411,100
$411.1K
Cap Rate 9%
$319,744
$319.7K
Market Conditions
NOI Build-Up for 2,518 SF
Gross rent
$43.8K $17.40/SF
− Vacancy
−$2.7K −$1.07/SF
EGI
$41.1K $16.33/SF
− OpEx
−$12.3K −$4.90/SF
NOI
$28.8K $11.43/SF
Area
Detroit, MI
Vacancy
6.17%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$575,540
Cap Rate 7%
$411,100
Cap Rate 9%
$319,744
Alternative Uses
Best Use
Multifamily LT 5
$411.1K
$359.7K – $479.6K
NOI $28,777 @ 7.0% cap · market cap 9.14%
Second Best
Apartment 5plus
$377.4K
$330.2K – $440.3K
NOI $26,416 @ 7.0% cap · market cap 8.39%
Theoretical Best
Office A
$555.5K
$486.1K – $648.1K
NOI $38,884 @ 7.0% cap · market cap 12.34%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
317
Businesses Nearby
Explore this area
Business Placement
Demographics for 48210, MI
27,155
Population
10,576
Households
2.6
Avg Household Size
28
Median Age
9%
College-Educated
57%
High-School Grad
4.9 sq mi
ZIP Area
5,542
Density / Sq Mi
$38,900
Median Household Income
$25,220
Median Earnings
$968
Median Rent
$60,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit property in Southwest Detroit near downtown and freeways.
Where is this quadplex located?
The property is located at 6349 Barlum St Detroit, MI.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: Generating $4,000 per month in rental income.; Fully renovated with **new roof, plumbing, sewer, windows, electrical system, furnace, and hot water tank.**; Four units, each with 1 bed and 1 bath.
