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    12170 Dexter Ave Detroit, MI 48206

    Sponsored
    For Sale
    $495,000

    33-Unit Detroit Apartment Building

    Property size:
    37,143 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional investment opportunity presents a 33-unit apartment building located at 12170 Dexter Avenue in Detroit, Michigan, 48206. The property, built in 1926, boasts 37,143 square feet across ten stories and sits on a 0.22-acre lot (APN: W12I010519S). Zoned for multi-family use, it features 26 one-bedroom units, six two-bedroom units, and a superintendent's unit. The building, while requiring a full rehabilitation, showcases original luxury details including marble and tile work, offering significant potential for restoration. Its location within the rapidly developing Dexter Corridor provides exceptional upside. The area is experiencing a major revitalization, including over $30 million in awarded grants for streetscape improvements, infrastructure upgrades, and the addition of EV charging stations, new water lines, and pedestrian walkways. Proximity to key areas like New Center, Henry Ford Hospital, and the Joe Louis Greenway further enhances its appeal. The building's potential for high rental rates, particularly given its proximity to employment centers and its appeal to recent graduates and relocating professionals, makes this a compelling investment opportunity in a burgeoning Detroit neighborhood. The asking price is $495,000 ($13 per square foot). This is a chance to capitalize on Detroit's revitalization and establish a strong presence in a rapidly appreciating market.

    Property Features for 12170 Dexter Ave

    General Information

    Property type
    Multifamily properties
    Square Feet
    37,143 SF
    Lot Size
    9,583 SF

    Building Details

    Year Built
    1926
    Stories
    10
    Units
    33

    HighLights

    • 33‑unit apartment building in Detroit, MI (48206) at 12170 Dexter Avenue.
    • 10‑story building (37,143 sq ft) on a 0.22‑acre lot (APN: W12I010519S), built in 1926.
    • Unit mix: 26 one‑bedroom, 6 two‑bedroom, and 1 superintendent's unit; requires full rehabilitation.
    • Multi‑family zoning; features original luxury details (marble, tile); located in the rapidly developing Dexter Corridor.
    • $495,000 asking price ($13/sq ft); significant upside potential due to neighborhood revitalization and proximity to employment centers.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Detroit
    County
    Wayne
    State
    Michigan
    Longitude
    -83.1258529
    Latitude
    42.3826111

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    FAQs

    What type of property is this?
    Multifamily property - 33-Unit Detroit Apartment Building
    Where is this multifamily property located?
    The property is located at 12170 Dexter Ave Detroit, MI.
    What is the asking price?
    The asking price for this property is $495,000.
    What are key features of this property?
    This property features: 33-unit apartment building in Detroit, MI (48206) at 12170 Dexter Avenue.; 10-story building (37,143 sq ft) on a 0.22-acre lot (APN: W12I010519S), built in 1926.; Unit mix: 26 one-bedroom, 6 two-bedroom, and 1 superintendent's unit; requires full rehabilitation.
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    Detroit, MI 48206
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    12170 Dexter Ave Detroit, MI 48206
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