For Sale

Listed by Ahsan Tarar from Tarar Homes

Source: Multiple Listing Service MiRealSource #61036146

240 Mack Avenue, Detroit, MI, 48201

$4,100,000

21
7400 sq. ft.
0.16 ac.

MultiFam

•

1 day on the market

What's around 240 Mack Avenue

About this property

240 Mack Ave presents a rare opportunity to acquire a fully renovated, 21-unit multifamily asset in the heart of Midtown Detroit, just steps from Wayne State University and surrounded by some of the city's strongest employment, educational, medical, and entertainment anchors. The property is currently 100% occupied, providing immediate and stabilized cash flow from day one. The unit mix includes 17 one-bedroom apartments and 4 studio units, offering efficient layouts well suited for the strong rental demand in the Midtown market. Offered at $4.1 million, the property delivers an attractive 6.47% in-place capitalization rate. An additional advantage is the existing tax abatement, which has been confirmed to survive the transfer of ownership, helping preserve the property's favorable operating expenses and overall investment performance. With a fully renovated condition, stabilized occupancy, strong in-place income, and a premier Midtown Detroit location near Wayne State University, 240 Mack Ave offers investors the opportunity to acquire a turnkey multifamily asset in one of Detroit's most desirable and established rental markets.

Looking for more information on 240 Mack Avenue?

Explore comparables, sales history and growth for this property.
Learn more

Similar properties for sale nearby

For Sale
$1,450,000
669 West Canfield Street
Detroit MI 48201
8
Multi-Family
Listing courtesy of Golden Key Realty Group LLC
For Sale
$1,000,000
681 West Canfield Street
Detroit MI 48201
5
Multi-Family
Listing courtesy of S&P Realty
For Sale
$819,000
691 Alexandrine Street West
Detroit MI 48201
3
Multi-Family
Listing courtesy of Sold By VIE

Other properties for sale by Tarar Homes

For Sale
$2,600,000
9295 Cedar Creek Court
Swartz Creek MI 48473
45
Multi-Family
Listing courtesy of Tarar Homes
For Sale
$339,900
2601 Belmont Avenue
Hamtramck MI 48212
3
Multi-Family
Listing courtesy of Tarar Homes
For Sale
$130,000
17516 Joseph Campau Street
Detroit MI 48212
3
1
Single-Family
Listing courtesy of Tarar Homes

Browse properties sold in nearby areas

Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. The information published and disseminated by MiRealSource is communicated verbatim, without change by MiRealSource, as filed with MiRealSource by its members. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. Copyright [current year] MiRealSource. All rights reserved. The information provided hereby constitutes proprietary information of MiRealSource, Inc. and its shareholders, affiliates and licensees and may not be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording, scanning or any information storage and retrieval system, without written permission from MiRealSource, Inc.

The Digital Millennium Copyright Act of 1998, 17 U.S.C. § 512 (the "DMCA") provides recourse for copyright owners who believe that material appearing on the Internet infringes their rights under MLS GRID IDX Rules Updated September 16, 2024 7 U.S. copyright law. If you believe in good faith that any content or material made available in connection with our website or services infringes your copyright, you (or your agent) may send us a notice requesting that the content or material be removed, or access to it blocked. Notices must be sent in writing by email to: dmca@ratemyagent.com

The DMCA requires that your notice of alleged copyright infringement include the following information: (1) description of the copyrighted work that is the subject of claimed infringement; (2) description of the alleged infringing content and information sufficient to permit us to locate the content; (3) contact information for you, including your address, telephone number and email address; (4) a statement by you that you have a good faith belief that the content in the manner complained of is not authorized by the copyright owner, or its agent, or by the operation of any law; (5) a statement by you, signed under penalty of perjury, that the information in the notification is accurate and that you have the authority to enforce the copyrights that are claimed to be infringed; and (6) a physical or electronic signature of the copyright owner or a person authorized to act on the copyright owner's behalf. Failure to include all of the above information may result in the delay of the processing of your complaint.

Email
© 2026 RateMyAgent