2683 Central Ave | Detroit, MI 48209
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- LoopNet Team
2683 Central Ave
Detroit, MI 48209
Fully Renovated, Stabilized 10-Unit Building · Multifamily Property For Sale
·
10 Units
INVESTMENT HIGHLIGHTS
- Central Apartments is a 90% occupied 10-unit apartment building that was fully renovated between 2019-2023.
- Value-add opportunity for a future buyer to add an 11th unit in the garden level.
- Growing population of over 295,000 within five miles of the Central Apartments, with 56% currently choosing to rent their home.
- Improvements have included 10 unit renovations, new windows, new EPDM roof, major plumbing & electrical upgrades, and a new high-efficiency boiler.
- Located near the soon-to-be-completed Gordie Howe International Bridge connecting Detroit to Windsor, Canada (largest port along the Canada-US border)
PROPERTY FACTS
| No. Units | 10 | Building Size | 7,795 SF |
| Property Type | Multifamily | Average Occupancy | 90% |
| Property Subtype | Apartment | No. Stories | 3 |
| Building Class | B | Year Built/Renovated | 1926/2023 |
| Lot Size | 0.40 AC | ||
| Zoning | R3 | ||
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | B |
| Lot Size | 0.40 AC |
| Building Size | 7,795 SF |
| Average Occupancy | 90% |
| No. Stories | 3 |
| Year Built/Renovated | 1926/2023 |
| Zoning | R3 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 10 | - | 735 - 843 |
PROPERTY TAXES
| Parcel Number | 20-004924 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $289,500 |
PROPERTY TAXES
Parcel Number
20-004924
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$289,500
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