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    3447-3471 Ewald Cir Detroit, MI 48238

    Sponsored
    For Sale
    $595,000

    Eight-unit Detroit apartment building, excellent ROI.

    Property size:
    6,872 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents an eight-unit townhome-style apartment building located at 3447-3471 Ewald Circle in Detroit, Michigan, 48238. The property, boasting a total of 6,872 square feet, is zoned R3 and features eight two-bedroom units, each with its own private entry. Built in 1952, this multifamily property has undergone significant capital improvements within the past three years, enhancing its value and appeal. The asking price is $595,000, translating to an attractive price per unit of $74,375. Financial details are available upon request. A certificate of compliance is readily accessible for prospective buyers. The property's location in Wayne County offers convenient access to various amenities and transportation routes. Seller financing is being considered, making this an even more compelling proposition for investors seeking a strong return on investment. The property's APN is 16-0238618. This is a rare chance to acquire a well-maintained, cash-flowing multifamily property in a growing Detroit market.

    Property Features for 3447-3471 Ewald Cir

    General Information

    Property type
    Multifamily properties
    Square Feet
    6,872 SF

    Building Details

    Year Built
    1952
    Units
    8

    HighLights

    • Eight‑unit townhome complex.
    • All units feature two bedrooms and private entrances.
    • Significant capital improvements completed within the last three years.
    • Financial statements available upon request.
    • Current Certificate of Occupancy on file.
    • Owner financing considered.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Detroit
    County
    Wayne
    State
    Michigan
    Longitude
    -83.1380955
    Latitude
    42.3997016

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    FAQs

    What type of property is this?
    Multifamily property - Eight-unit Detroit apartment building, excellent ROI.
    Where is this multifamily property located?
    The property is located at 3447-3471 Ewald Cir Detroit, MI.
    What is the asking price?
    The asking price for this property is $595,000.
    What are key features of this property?
    This property features: Eight-unit townhome complex.; All units feature two bedrooms and private entrances.; Significant capital improvements completed within the last three years.
    Request Owner's contact information
    3447-3471 Ewald Cir Detroit, MI 48238
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    Detroit, MI 48238
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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
    3447-3471 Ewald Cir Detroit, MI 48238
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