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35732 W Michigan Ave
Wayne, MI 48184
Multifamily Property For Sale
·
8 Units
Executive Summary
Excellent value-add apartment opportunity located in the heart of downtown Wayne. Property is in need of full renovation. This approximately 9,000 square foot building is approved for a total of eight residential units, with four units on the upper level and four units on the lower level, offering strong potential for investors looking to renovate and maximize returns. The adjacent vacant land may be available for purchase from the city, presenting a unique opportunity to create additional parking and further enhance the property’s long-term value and functionality. Recent capital improvements include all new windows throughout the building, representing an investment of approximately $50,000, providing a solid foundation for future redevelopment and income growth. All measurements are approximate agent to verify.
Property Facts
| Price Per Unit | $31,250 | Lot Size | 0.11 AC |
| Sale Type | Investment | Building Size | 9,000 SF |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1936 |
| Property Subtype | Apartment | Parking Ratio | 1.11/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Building Class | C | ||
| Zoning | B-5 - Major Business District | ||
| Price Per Unit | $31,250 |
| Sale Type | Investment |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.11 AC |
| Building Size | 9,000 SF |
| No. Stories | 2 |
| Year Built | 1936 |
| Parking Ratio | 1.11/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | B-5 - Major Business District |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 8 | - | - |
Property Taxes
| Parcel Number | 55-006-05-0060-000 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $187,200 |
Property Taxes
Parcel Number
55-006-05-0060-000
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$187,200
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