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Library Lofts 1250 Library St 11 Unit Apartment Building $7,000,000 ($636,364/Unit) Detroit, MI 48226
INVESTMENT HIGHLIGHTS
- Prime Library Street Location, Historic Building Converted to Lots.
- Zoned 201: Commercial Mixed Use Residential + Commercial.
- Proximity to Major Downtown Developments (Hudson's Detroit), Strong demand for Loft-Style Residences in Downtown Detroit.
EXECUTIVE SUMMARY
Tower Real Estate Is pleased to Present An Exclusive opportunity to Acquire 1250 Library Street, A 6-Six-Sotry, Mixed-Use Commercial Building Located in the Heart of Downtown Detroit. With its Iconic Architectural Character and unmatched Located, This Asset is Poised for Continued Value Appreciation.
PROPERTY FACTS
| Price | $7,000,000 | Building Class | B |
| Price Per Unit | $636,364 | Lot Size | 0.12 AC |
| Sale Type | Investment | Building Size | 32,000 SF |
| No. Units | 11 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 6 |
| Property Subtype | Apartment | Year Built/Renovated | 1917/1999 |
| Apartment Style | Mid-Rise | Opportunity Zone |
Yes
|
| Zoning | 201 - Commercial Mixed-Use Residential/Commercial | ||
| Price | $7,000,000 |
| Price Per Unit | $636,364 |
| Sale Type | Investment |
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.12 AC |
| Building Size | 32,000 SF |
| Average Occupancy | 100% |
| No. Stories | 6 |
| Year Built/Renovated | 1917/1999 |
| Opportunity Zone |
Yes |
| Zoning | 201 - Commercial Mixed-Use Residential/Commercial |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Refrigerator
- Oven
- Range
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Gas Range
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 3 | - | 1,500 |
| 2+2 | 3 | - | 2,400 - 3,200 |
| 2+1.5 | 2 | - | 2,400 - 2,500 |
Walk Score®
Walker's Paradise (98)
Transit Score®
Excellent Transit (85)
PROPERTY TAXES
| Parcel Number | 01-004000 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $2,403,000 |
PROPERTY TAXES
Parcel Number
01-004000
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$2,403,000
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Tower Real Estate
Library Lofts | 1250 Library St
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