1511 First St.
Detroit, MI 48226 ·
260 Units · Multifamily For Sale
|No. Units||260||Gross Rent Multiplier||4.90|
|Building Size||220,997 SF||Occupancy||93%|
|Property Type||Multifamily||No. Stories||15|
|Property Sub-type||Mid/High-Rise||Year Built||1940|
|Property Use Type||Investment|
|Listing ID: 13783198||Date Created: 10/06/2003||Last Updated: 05/05/2004|
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
- 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
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