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    506 Kenilworth St Detroit, MI 48202

    Sponsored
    For Sale
    $449,000

    Four-unit apartment building, excellent ROI.

    Property size:
    3,280 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional four-unit apartment building, located at 506 Kenilworth St in Detroit, Michigan's New Center neighborhood, presents a compelling investment opportunity. Built in 1911, this two-story structure boasts a total of 3,280 square feet situated on a 0.1-acre lot (APN: 03-002600.001). The property is zoned R3, allowing for flexibility in future use. Each of the four units offers significant potential for increased rental income, as current rents are below market value. Recent improvements include a newer roof and updated mechanical systems, minimizing immediate capital expenditure needs. The building's strong foundation and desirable location in a rapidly growing market ensure a stable and potentially lucrative investment. Financial details are available upon request. This property is priced at $449,000, representing an attractive price per unit of $112,250. Don't miss this chance to acquire a well-maintained multifamily property in a thriving Detroit neighborhood.

    Property Features for 506 Kenilworth St

    General Information

    Property type
    Multifamily properties
    Square Feet
    3,280 SF
    Lot Size
    4,356 SF

    Building Details

    Year Built
    1911
    Stories
    2
    Units
    4

    HighLights

    • Four‑unit apartment building for sale in Detroit's New Center neighborhood.
    • Located in a rapidly growing market.
    • Features a newer roof and updated mechanical systems.
    • Below‑market rents offer significant upside potential.
    • Financial details available upon request.
    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
    -83.0764866
    Latitude
    42.3864547

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    FAQs

    What type of property is this?
    Multifamily property - Four-unit apartment building, excellent ROI.
    Where is this multifamily property located?
    The property is located at 506 Kenilworth St Detroit, MI.
    What is the asking price?
    The asking price for this property is $449,000.
    What are key features of this property?
    This property features: Four-unit apartment building for sale in Detroit's New Center neighborhood.; Located in a rapidly growing market.; Features a newer roof and updated mechanical systems.
    Request Owner's contact information
    506 Kenilworth St Detroit, MI 48202
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    Detroit, MI 48202
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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
    506 Kenilworth St Detroit, MI 48202
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