Listing Agency: Dominion Real Estate e***@dominionra.com Show Phone

Listed By: Eric Banks · License #MI 6502360983

Source: Crexi

Added: Apr 11, 2023 Changed: Aug 22 Last Checked: May 12 at 11:20PM

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Investment Insights

Based on property information with market context.

This multifamily property, located in Detroit, Michigan, comprises 53 units. The property is suitable for residential income purposes and is classified as an apartment building. The total property size is 50000 square feet.

Key Highlights

• Multifamily Property
• 53 Units
• Priced at $72,000/unit

Property Analytics

Current Use

Apartment buildings

Location Intelligence

Trade Area within ½ mile

330

Businesses Nearby

Explore this area Business Placement

Demographics for 48234, MI

31,442

Population

15,688

Households

2

Avg Household Size

36

Median Age

11%

College-Educated

84%

High-School Grad

7.8 sq mi

ZIP Area

4,031

Density / Sq Mi

$36,473

Median Household Income

$31,587

Median Earnings

$965

Median Rent

$57,100

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Apartment building - 53-unit multifamily property available for sale in Detroit.

Where is this apartment building located?

The property is located at City of Detroit Detroit, MI.

What is the asking price?

The asking price for this property is $3,816,000.

What are key features of this property?

This property features: Multifamily Property; 53 Units; Priced at $72,000/unit