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Stanton Apartments Redevelopment Project 2350 Stanton Street 32 Unit Apartment Building $998,888 ($31,215/Unit) 20% Cap Rate Detroit, MI 48208
Investment Highlights
- Henry Ford’s mega-campus anchors growth: daily healthcare staff, students, patients—driving demand for nearby housing.
- Historic tax credits, community development grants, and city-backed incentives support rehab projects in this corridor.
- Motown Museum’s expansion positions the corridor as a cultural district, boosting foot traffic, restaurants, and walkability.
- Thousands of healthcare jobs (construction + permanent), cultural jobs (museum staff, events), plus ancillary businesses—support rental demand and pri
Executive Summary
3.9% Land Contract for Qualified Buyers with 50% down-payment. We have a phase 1 & 2 , Survey and preliminary plans. In need of a Rehab 1 per the architect.
Financial Summary (Pro Forma - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $998,888 | Apartment Style | Mid-Rise |
| Price Per Unit | $31,215 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.27 AC |
| Cap Rate | 20% | Building Size | 32,478 SF |
| Sale Condition | Redevelopment Project | Average Occupancy | 0% |
| No. Units | 32 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 1919 |
| Property Subtype | Apartment | Parking Ratio | 0.74/1,000 SF |
| Zoning | B4 - Residential Zoned | ||
| Price | $998,888 |
| Price Per Unit | $31,215 |
| Sale Type | Investment |
| Cap Rate | 20% |
| Sale Condition | Redevelopment Project |
| No. Units | 32 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.27 AC |
| Building Size | 32,478 SF |
| Average Occupancy | 0% |
| No. Stories | 4 |
| Year Built | 1919 |
| Parking Ratio | 0.74/1,000 SF |
| Zoning | B4 - Residential Zoned |
Amenities
Site Amenities
- 24 Hour Access
- Business Center
- Vintage Building
- Elevator
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 8 | - | - |
| 2+1 | 24 | - | 1,000 |
1 1
Moderately walkable
60/100
Very drivable
80/100
Some public transit
40/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 10-001022 | Total Assessment | $488,600 |
| Land Assessment | $0 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $0 | Tax Year | 2025 |
Property Taxes
Parcel Number
10-001022
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$488,600
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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Realty Corp
Stanton Apartments Redevelopment Project | 2350 Stanton Street
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