Two-Story Brick
8773 PETOSKEY Avenue, Detroit, MI 48204
For Sale
Contact for pricing
Pending
Multifamily, 2 Story, Detroit, MI
Property Size3,584 SF
Lot Size0.09 Acres
Days on Market1430
Property Features for 8773 PETOSKEY Avenue
General Information
Property type
Property subtype
Zoning
Bedrooms
Bathrooms
Full bathrooms
Rooms
Pets allowed
Subdivision
Elementary school district
Middle school district
High school district
Directions
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Description
Legal Description
Utilities
Heating system
Water source
Building Details
Year built
Floors in Building
Number of units
Building materials
Architectural style
Listing Agency:
RCH Brokerage Legacy Inc
Listed By:
Leonard A Pickett III · License MI #6501306589
(248) 440-2268
Added: Dec 13, 2022
Changed: Oct 24
Last Checked: Nov 11 at 1:06AM
MLS# 20221067394
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 two-story Colonial-style quadplex contains 3,584 square feet on a 0.09-acre parcel in Detroit. The brick structure was built in 1918 and includes eight bedrooms, four bathrooms, and a basement. Forced-air heating and public water service are present. The property is zoned Residential and is positioned for a substantial rehabilitation project rather than immediate occupancy.
A purchase proposal must address the intended rehabilitation scope and financing. Supporting documentation may include proof of funds, a pre-approval letter, or new-construction loan information. The property is located in Detroit’s 48204 ZIP code, within Wayne County.
A purchase proposal must address the intended rehabilitation scope and financing. Supporting documentation may include proof of funds, a pre-approval letter, or new-construction loan information. The property is located in Detroit’s 48204 ZIP code, within Wayne County.
Key Highlights
- 3,584‑square‑foot two‑story quadplex on a 0.09‑acre parcel
- Eight bedrooms, four bathrooms, and a basement
- Brick Colonial‑style construction completed in 1918
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,599
Suggested Prices Based on Cap Rates
Cap Rate 5%
$751,980
$752.0K
Cap Rate 7%
$537,129
$537.1K
Cap Rate 9%
$417,767
$417.8K
Market Conditions
NOI Build-Up for 3,584 SF
Gross rent
$73.1K $20.40/SF
− Vacancy
−$4.8K −$1.33/SF
EGI
$68.4K $19.07/SF
− OpEx
−$30.8K −$8.58/SF
NOI
$37.6K $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%
$751,980
Cap Rate 7%
$537,129
Cap Rate 9%
$417,767
Alternative Uses
Best Use
Multifamily LT 5
$585.1K
$512.0K – $682.7K
NOI $40,960 @ 7.0% cap
Second Best
Apartment 5plus
$537.1K
$470.0K – $626.7K
NOI $37,599 @ 7.0% cap
Theoretical Best
Office A
$790.6K
$691.8K – $922.4K
NOI $55,345 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
283
Businesses Nearby
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Demographics for 48204, MI
21,738
Population
13,691
Households
1.6
Avg Household Size
37
Median Age
10%
College-Educated
83%
High-School Grad
5.0 sq mi
ZIP Area
4,348
Density / Sq Mi
$32,875
Median Household Income
$26,701
Median Earnings
$970
Median Rent
$53,600
Median Home Value
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Market
Average Price Trend$/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 - Residential income property requiring comprehensive rehabilitation, with a basement and public water service.
Where is this quadplex located?
The property is located at 8773 PETOSKEY Avenue Detroit, MI.
What are key features of this property?
This property features: 3,584‑square‑foot two‑story quadplex on a 0.09‑acre parcel; Eight bedrooms, four bathrooms, and a basement; Brick Colonial‑style construction completed in 1918
