Share this with your friends
(989) 385-1311
Bay Realty Michigan
240 Mack Avenue, Detroit, MI 48201 2418
- $4,100,000
- 21
- BA
- 7,400
- SqFt
- List Price
- $4,100,000
- Status
- ACTIVE
- MLS#
- 61036146
- Days on Market
- 35
- Style
- Colonial
- Year Built
- 1930
- Bathrooms
- 21
- Acres
- 0.16
- Living Area
- 7,400
- Municipality
- Detroit
- Region
- Detroit
- Township
- Detroit
- Subdivision
- Brush Sub Of Pt Of Park Lts 17 Thru 21
Property Description
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.
/u.realgeeks.media/bayrealtymi/a0319f0b7b28-574847435_1478085547037804_7551286943272733804_n__2_.jpg)
Additional Information
- Lot Dimensions
- 50 x 140
- Heating
- Forced Air
- Basement
- Yes
- Basement Description
- Block
- Foundation
- Basement
- Water
- Public
- School District
- Detroit City School District
How much is your home worth?
...get instant property value now!
Mortgage Calculator
Listing Courtesy of Tarar Homes, Office Phone: 313-888-0315
Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource. 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 2014 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.
Provided through IDX via MiRealSource, as the "Source MLS", courtesy of the Originating MLS shown on the property listing, as the Originating MLS. The information published and disseminated by the Originating MLS is communicated verbatim, without change by the Originating MLS, as filed with it by its members. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. Copyright 2014 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.