Sheridan Court Apartments & The Wellesley 4401-4417 2nd Ave 121 Unit Apartment Building For Sale Detroit, MI 48201
INVESTMENT HIGHLIGHTS
- Heart of Midtown
- Two (2) Midrise Multi-family Apartment buildings
- Excellent Location
EXECUTIVE SUMMARY
For Sale by Court Appointed Receiver – Two (2) Multi-Family Apartment Buildings in Midtown, Detroit.
Sheridan Court – Four (4) story 66,600 +/- square foot midrise multifamily building that was built in 1919. The property is comprised of 16 studios, 70 -1BR/1BA and 4 -2BR/1BA, with three (3) commercial units and is zoned SD2-special development district. Upgrades include a new boiler, new fire exit doors, interior LED lighting and landscaping.
4417 2nd Ave, Detroit, MI 48201
The Wellesley – Three (3) story 17,905 +/- square foot midrise multifamily building that was built in 1930. The property is comprised of 14 studios and 14 – 1BR/1BA and is zoned R5- medium density residential district. Upgrades include a newer boiler, landscaping and a new roof.
651 W Hancock Street, Detroit, MI 48201
Close Proximity to the Lodge Freeway, Wayne State University, Detroit Institute of Ats, Detroit Historical Museum, Michigan Science Museum and several shops/restaurants.
Property includes a NEZ tax abatement that will expire in December 2033 which can save $400k per year.
All offers considered.
Sheridan Court – Four (4) story 66,600 +/- square foot midrise multifamily building that was built in 1919. The property is comprised of 16 studios, 70 -1BR/1BA and 4 -2BR/1BA, with three (3) commercial units and is zoned SD2-special development district. Upgrades include a new boiler, new fire exit doors, interior LED lighting and landscaping.
4417 2nd Ave, Detroit, MI 48201
The Wellesley – Three (3) story 17,905 +/- square foot midrise multifamily building that was built in 1930. The property is comprised of 14 studios and 14 – 1BR/1BA and is zoned R5- medium density residential district. Upgrades include a newer boiler, landscaping and a new roof.
651 W Hancock Street, Detroit, MI 48201
Close Proximity to the Lodge Freeway, Wayne State University, Detroit Institute of Ats, Detroit Historical Museum, Michigan Science Museum and several shops/restaurants.
Property includes a NEZ tax abatement that will expire in December 2033 which can save $400k per year.
All offers considered.
PROPERTY FACTS
| Sale Type | Investment |
| No. Units | 121 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.87 AC |
| Building Size | 84,565 SF |
| No. Stories | 4 |
| Year Built/Renovated | 1919/2019 |
| Opportunity Zone |
Yes |
| Zoning | SD2 & RM5 - SD2- Special Development District - Sheridan R5 - Medium Density Residential District - Wellesley |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Dishwasher
- Disposal
- Heating
- Kitchen
- Hardwood Floors
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Tub/Shower
- Walk-In Closets
- Freezer
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Property Manager on Site
- Elevator
- Maintenance on site
- Public Transportation
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 30 | - | 460 - 600 |
| 1+1 | 84 | - | 695 - 770 |
| 2+1 | 4 | - | 1,005 |
Walk Score®
Walker's Paradise (94)
Bike Score®
Biker's Paradise (95)
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $0 | |
| Land Assessment | $0 | Total Assessment | $594,000 |
