3931 McGraw Street

Detroit MI 48208

24255 sq. ft.

0.38 ac.

Multi-Family

Currently for sale - view listing

Overview

AMAZING REDEVELOPMENT OPPORTUNITY ON THIS 27 UNIT BUILDING IN THE GRAND BLVD/ MCGRAW CORRIDOR. WEST OF WAYNE STATE, WOODBRIDGE, NW GOLDBERG AND SOUTH OF CORKTOWN. MANY DEVELOPMENTS PLANNED IN THE AREA. THE BUILDING NEEDS A FULL REHAB. GREAT UNIT MIX AND GENEROUS APARTMENTS SIZES. ADDITIONAL SPACE IN THE LOWER LEVEL TO ADD UNITS. SELLER HAS PLANS FOR AN ADDITIONAL NEW 38 UNIT BUILDING AND SEVERAL TRI PLEXES NEXT DOOR. Expenses estimated at 6% mgmt fee = $19, 872. Taxes $20, 000. Insurance $15, 000. Rehab estimated at $1 Million. Total $1, 675 Million (16.7 Cap)

Features

27 bathrooms

24255 sq. ft. floor area

0.38 ac. lot size

Multi-Family

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Local market activity for multi families in Detroit

Sold

For Sale

View the listing for inspection times, agent contact details, and more.

Philip Lang

at Re/Max Connection

View listing

Sales:: (619) 566-0008

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