3521 Caniff St
Hamtramck, MI 48212
The Rotana Apartments · Multifamily Property For Sale · 42 Units

Rotana is a mid-rise complex built in 1925, with a complete rehab over the past few years. Some of the Capex items include all ne wplumbing, wiring, elevator, windows and full rehab of individual units. It consists of 1 building sitting on 0.23 acres. It offers 8, studio units with approximately 500 ft.2 of living space, 32 two-bedroom units with approximately 650 ft.2 of living space, and 8 three-bedroom units with approximately 750 ft.2 of living space. Notable for investors is the condition of the building, which has been completely rehabbed at a cost of over $750K. Rotana provides tenant-paid heat, as well as the recent upgrades and minimal deferred maintenance to the property. The property is less than five miles from the center of Detroit' s renaissance and is located on a bus-line that runs directly to Wayne State University. Due to this exceptional location, it provides tenants with numerous retail, educational, recreational and entertainment opportunities that are close to home. Rotana has been well-maintained and this offering represents a turn-key investment for a multifamily investor. Hamtramck is primarily the City of Detroit. Hamtramck lies about five miles from the center of Detroit. The I-75 Freeway roughly runs along this city's western border and I-94 runs near its southern border. The City of Detroit, it is not only Michigan' s largest city, but also the seat of Wayne County, whose population exceeds 1.8 million. Detroit is the major cultural, financial, and transportation center in the Metro Detroit area, and serves as the major port on the Detroit River connecting the Great Lakes system to world markets. In 2010, the city had a population 713,777 and ranked as the 18th most populous city in the United States. The Detroit-Windsor area, a critical commercial link straddling the Canada-U.S. border, has a total population of about 5.7 million.