4947 Maplewood Ave Detroit, MI 48204
- Apartment buildings
- 3,074 SF
- 0.10 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 4947 Maplewood Ave
- Year built
- 1917
- Lot size
- 0.10 lot acres
- Property size
- 3,074 SF
- Property type
- Apartment buildings
Description
This 1917-built, two-story apartment building located at 4947 Maplewood Ave, Detroit, MI 48204 presents a compelling redevelopment opportunity. The property, classified as a Class B multifamily investment, encompasses 3,074 square feet on a 0.1-acre lot in Wayne County. Currently vacant, the four-unit quadruplex offers significant upside potential for investors. Each unit has its own meter, simplifying future rental management. The asking price is $110,000, translating to $27,500 per unit and $35.78 per square foot. The building includes four parking spaces and is zoned for multi-family use. While requiring renovation, this property offers a chance to capitalize on Detroit's growing real estate market. The property is being sold as-is. Its convenient location near downtown Detroit, public transportation, schools, and major freeways ensures strong tenant appeal once renovated. This is a unique chance to acquire a property with substantial potential for rental income generation. The property's current NOI is $0 due to vacancy.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Detroit
- County
- Wayne
- State
- Michigan
- Longitude
- -83.1237
- Latitude
- 42.3606
