3204 Gladstone St Detroit, MI 48206
- Commercial real estate
- 11,706 SF
Current Use by Public Records
- Commercial real estate
Property Details for 3204 Gladstone St
- Year built
- 1926
- Property size
- 11,706 SF
- Property type
- Commercial real estate
Description
This 17-unit apartment building, located at 3204 Gladstone St, Detroit, MI 48206, presents a compelling investment opportunity. Built in 1926, this four-story, masonry structure boasts 11,706 square feet and offers a mix of seven one-bedroom and ten two-bedroom units. The property is zoned R2, providing flexibility for future development or renovations. Recent improvements have focused on enhancing the building's structural integrity, including roof work, window repairs, and interior framing upgrades. The asking price is $170,000, translating to $10,000 per unit and $14.52 per square foot. This represents a strong value proposition in the Detroit multifamily market. The building's location in the Jamison neighborhood offers convenient access to various amenities and transportation options. This is a Class C property with significant potential for increased rental income and appreciation. The property's solid foundation and recent maintenance work provide a stable investment platform for both seasoned and new investors. This is an excellent opportunity to acquire a well-located, income-generating multifamily asset in a growing Detroit neighborhood. Serious inquiries are encouraged.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Detroit
- County
- Wayne
- State
- Michigan
- Longitude
- -83.1127857
- Latitude
- 42.3688418
