414 Horton St Detroit, MI 48202

Property Details for 414 Horton St

Property size

2,581 SF

Property type

Commercial real estate

Description

This exceptional redevelopment opportunity presents a three-unit apartment building situated in Detroit's desirable North End on Horton Street. The property, encompassing 2,581 square feet across three stories, boasts three spacious rental units, each featuring rough plumbing, electrical, and HVAC systems already completed. New roofs and windows enhance the building's appeal. Each unit includes two entrances and private rear balconies, providing residents with ample space and privacy. A shared basement is envisioned for laundry and storage, adding convenience for tenants. The first floor comprises a large one-bedroom apartment with an original brick fireplace, while the second floor offers a two-bedroom unit. The third floor is adaptable as either a one-bedroom or studio apartment. Architectural drawings, approved by the City of Detroit, are included in the sale. The property also includes a side lot at 420 Horton Street, expanding the potential for future development. With a projected gross monthly income of $5,000 based on current market rents, this investment presents a compelling return. The surrounding area showcases several recently constructed multifamily and single-family buildings, highlighting the neighborhood's growth and desirability. This R3-zoned property offers a truly premier investment opportunity in a vibrant and up-and-coming location. The building's historical character, combined with modern updates and a prime location, makes this a rare find. Asking price is $275,000.

Location Insight

City

Detroit

County

Wayne

State

Michigan

Longitude

-83.0687503

Latitude

42.3727493