3931-51 Mcgraw Street
Detroit, MI 48208
- – beds
- 27 baths
- 24,255 sqft
- ~1/2 acre lot
- $26 per sqft
- 1920 build
- – on site
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)
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Last updated Apr 27, 2024
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MLS# 20240020791 —
Walk Score®
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Bike Score®
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Transit Score®
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Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
4/2/24
Apr 2, 2024
|
Listed / Active | REALCOMP | $650,000 |