Northend Multifamily Redevelopment Opportunity

Multi-Family for Sale
Catylist Listing ID: 30531302
Property Subtypes: Duplex/Fourplex
Number of Units: 4 Units
Building Size (RSF): 5,519 SF
Gross Building Area: See Agent
Gross Land Area: 7,728 SF
Sale Price: $70,000
Unit Price: $17,500 Per Unit
In Opportunity Zone? Yes
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 5/26/2020

Overview / Comments

- Large residential parcel located in City’s Northend Neighborhood
- Two duplexes on parcel consisting of at least four separate units
(112/114 E. Philadelphia and 8431/8435 John R.)
- Unique multi-family residential redevelopment opportunity
- Walking distance to Detroit’s New Center Area, home to several retail and office
- One block east of Woodward Ave, Detroit’s most widely known thoroughfare
- Close proximity to Wayne State University and Downtown Detroit

Additional Details

Nearest MSA: Detroit-Warren-Dearborn
County: Wayne
Submarket/Township: Detroit E of Woodward
Taxing Authority: City of Detroit
Tax ID/APN: 01002598.
Zoning: R3
Property Located Between: John R and Woodward
Site Description: Large Parcel with 2 Duplex buildings
Area Description: Northend Detroit District, close proximity to Detroit's New Center area
Total Number of Buildings: 2
Year Built: 1908
Zoning Description: Single Family Residential
Lot Frontage: 62
Lot Depth: 125
Legal Description: S PHILADELPHIA 93 BELA HUBBARD L21 P7 PLATS, W C R 1/111 61.80 X 125

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 17,155 169,045 458,508
Median Age: 38.91 36.12 35.09
Households: 7,484 68,497 173,985
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