UPDATED:
Key Details
Property Type Multi-Family
Sub Type MultiFamily
Listing Status Active
Purchase Type For Sale
Square Footage 24,255 sqft
Price per Sqft $22
Subdivision Bela Hubbards Sub L5 P46
MLS Listing ID 20261060857
Style Other
Full Baths 27
Year Built 1920
Lot Size 0.380 Acres
Acres 0.38
Property Sub-Type MultiFamily
Property Description
Strategically positioned at McGraw Street and West Grand Boulevard, this four-section, interconnected multifamily complex offers exceptional redevelopment potential within an increasingly connected area of Detroit. The property sits between several of the city's most significant investment districts, including Henry Ford Health's $3 billion Future of Health initiative, Ford's Michigan Central innovation district, and the advancing $62 million Junction McGraw industrial development. Access to I-94 and I-96 connects the site to Downtown, Midtown, Dearborn, major employment centers, Detroit's stadium and entertainment district—including Ford Field, Comerica Park, and Little Caesars Arena—and the Ambassador and Gordie Howe international bridges to Canada.
The apartments offer varied configurations serving a broad range of household needs. A unit mix weighted toward three-bedroom apartments can accommodate families seeking larger rental housing. Generously sized two-bedroom units provide flexibility for residents who work from home or need office, study, or multipurpose space. One-bedroom apartments further broaden the tenant base and allow the development to serve multiple household sizes and price points.
This substantial redevelopment opportunity is ideally suited to a seasoned, well-capitalized developer with the experience and resources to execute a comprehensive, multi-phase rehabilitation. The project requires a sponsor capable of navigating structural rehabilitation, municipal approvals, construction financing, phased construction, and lease-up. For the right team, it presents an exceptional opportunity to reposition a distinctive 27-unit residential asset, create quality housing for Detroit's missing-middle workforce, support broader workforce-development goals, and pursue nearby infill opportunities.
Buyer to independently verify all building measurements.
Location
State MI
County Wayne
Area Area05101Detsouthofgrandriver
Rooms
Basement Common, Full, Interior Entry, Unfinished
Interior
Heating Natural Gas, Other Heating Source
Fireplace No
Exterior
Parking Features ParkingLot, Paved, SharedDriveway
Pool None
View Y/N No
Garage false
Building
Foundation Basement, BrickMortar
Sewer Public Sewer
Water Public, SeparateMeters
New Construction No
Schools
School District Detroit
Others
Senior Community false
Acceptable Financing Cash, WarrantyDeed
Listing Terms Cash, WarrantyDeed
Special Listing Condition ShortSaleNo, Standard
Pets Allowed Yes
Nearby Locations
GET MORE INFORMATION