11421 Dexter Ave
Detroit, MI 48206
Redevelopment Project · Multifamily Property For Sale · 138 Units

Property tours are will be available by appointment ONLY on January 8th from noon-2pm and January 22nd from noon-2pm. To schedule a tour, contact Vincent Mazzola at vincent@oconnordetroit.com or 313-704-2678. O'Connor Real Estate is pleased to offer the former St. Paul's Elderly Housing building located at 11421 Dexter Avenue. St. Paul's Elderly Housing was an apartment complex for senior citizens located in the Petosky-Otsego neighborhood of Detroit near Boston Edison and Russell Woods. The 12-story tower was built in 1974, is made of 138 units and sits on almost 1.0 acre of land. The building has been vacant since 2012 and is in need of a full renovation. Could be an excellent candidate for an array of tax incentives. The former St. Paul's Elderly Housing is a vacant apartment complex located at 11421 Dexter Avenue in Detroit, MI. The Property is offered at a significant discount to replacement cost and offers investors tremendous value enhancement opportunities. St. Paul's Elderly Housing was an apartment complex for senior citizens located in the Petosky-Otsego neighborhood of Detroit near Boston Edison and Russell Woods. The 12-story tower was built in 1974, and contains ±68,874 SF positioned on a 1-acre parcel. The Property offers 138 units with a mix of studio and one-bedroom layouts averaging ±863 SF. The Property has been vacant since 2012 and is in need of a full renovation. This property could be an excellent candidate for an array of tax incentives and ideal for adaptive reuse or repositioning/redevelopment. Located in Petosky-Otsego near Boston Edison and numerous local amenities, the Property is poised to benefit from its location in an extremely dense area. In 2019 has approximately ±414,884 individuals residing within a five-mile radius of the property with an average household income of ±$40,100. In 2019, within a 5-mile radius of the Property there were ±15,21 businesses and ±167,470 employees. The former St. Paul's Elderly Housing benefits from good regional and local accessibility and is positioned 2 miles from I-96. The Property is positioned near local amenities, religious establishments, area schools including Durfee Elementary Middle School, Central Collegiate Academy and Detroit Collegiate Preparatory High School At North. This opportunity gives potential investors the ability to acquire a commercial property with substantial value-add potential through adaptive reuse or strategic redevelopment. LOCATION HIGHLIGHTS Located in Petosky-Otsego near Boston Edison and numerous local amenities Excellent accessibility with public transportation available Extremely dense area with a 2019 population estimate of ±414,884 and an AHHI of ±$40,100 (5-mile radius) Walk Score® of Somewhat Walkable (55) and Transit Score® of Some Transit (40)