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1511 First St., Detroit, MI 48226
260 Units | Multifamily
Multifamily Property - Off Market
- No. Units:
- Building Size:
- 220,997 SF
- Property Type:
- Property Sub-type:
- Property Use Type:
- Cap Rate:
- Gross Rent Multiplier:
- No. Stories:
- Year Built:
- Listing ID
- Last Updated
- over 1 year ago
- THE PRICE HAS BEEN REDUCED FROM $8.5M
- Central Business District (CBD)
- Millions in rehab in the building
- Next to "MGM" Casino,Cobo Hall & Joe Louis
THE PRICE HAS BEEN REDUCED FROM $8.5M Motivated Seller!
The Town Apartments was renovated 3 years ago from a 315 unit apartment and
short term stay complex to an upgraded 260 unit conventional rental complex.
Units were combined and upgraded to a higher demanded living arangement.
Millions of Dollars in renovation including NEW elevators (3), Boilers (3), Roof,
Tuck Pointing, Upgaraded Hallway, Hot Water Boilers, Garage Ramp, Carpeting,
many appliances, Lobby and Leasing office.
In the heart of it all, at Cass and Michigan Ave. Just East of the New MGM Casino.
Located in the Central Business Districe (CBD)of Detroit. Near Comerica Park,
Cobo Hall, Ford Field, Joe Louis, Fox & State theatre, Detroit Opera House,
GreekTown, Hart Plaza, Renissance Center and the New Compuware headquarters
Map of 1511 First St., Detroit, MI 48226
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The information above has
been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified
it and make no guarantee, warranty or representation about it. It is your responsibility to independently
confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are
for example only and do not represent the current or future performance of the property. The value of
this transaction to you depends on tax and other factors which should be evaluated by your tax, financial,
and legal advisors. You and your advisors should conduct a careful, independent investigation of the
property to determine to your satisfaction the suitability of the property for your needs. TB-P