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4742-4754 Anthony Wayne Dr 9 Unit Apartment Building $2,100,000 ($233,333/Unit) 6.94% Cap Rate Detroit, MI 48201
Investment Highlights
- Location
- growth and development taking place near the WSU campus
- condo conversion potential
Executive Summary
The building contains nine apartments, including eight 3-bedroom units and one 4-bedroom unit. Each unit is designed with separate living and dining areas plus an eat-in kitchen, a layout often preferred by residents seeking additional space and household flexibility. Separate front and rear entry/exit points for each unit create practical circulation and added privacy for occupants.
Good stable area. Prime location on campus. On-site features include basement laundry functionality and a rear courtyard with a small garden area, providing additional resident appeal and contributing to tenant retention potential. The property benefits from its position in the Midtown/Wayne State University area—an established multifamily submarket supported by:
University-related renter demand
Healthcare and institutional employment
Ongoing neighborhood investment and urban activity
Reliable transit and commuter access patterns
This location profile supports resilient leasing demand and helps position the property for long-term relevance in Detroit’s rental market.
Good stable area. Prime location on campus. On-site features include basement laundry functionality and a rear courtyard with a small garden area, providing additional resident appeal and contributing to tenant retention potential. The property benefits from its position in the Midtown/Wayne State University area—an established multifamily submarket supported by:
University-related renter demand
Healthcare and institutional employment
Ongoing neighborhood investment and urban activity
Reliable transit and commuter access patterns
This location profile supports resilient leasing demand and helps position the property for long-term relevance in Detroit’s rental market.
Data Room Click Here to Access
- Offering Memorandum
- Market Information
- Operating and Financials
Financial Summary (Actual - 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 (Actual - 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 | $2,100,000 | Building Class | C |
| Price Per Unit | $233,333 | Lot Size | 0.45 AC |
| Sale Type | Investment | Building Size | 12,658 SF |
| Cap Rate | 6.94% | Average Occupancy | 100% |
| No. Units | 9 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1913 |
| Property Subtype | Apartment | Parking Ratio | 0.32/1,000 SF |
| Apartment Style | Townhome | Opportunity Zone |
Yes
|
| Zoning | N/Av, Detroit - R-5. The City of Detroit R5 (Medium Density Residential District) zoning code allows for a mix of housing types. For info, Detroit City Code, Chap. 50 | ||
| Price | $2,100,000 |
| Price Per Unit | $233,333 |
| Sale Type | Investment |
| Cap Rate | 6.94% |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | C |
| Lot Size | 0.45 AC |
| Building Size | 12,658 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1913 |
| Parking Ratio | 0.32/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | N/Av, Detroit - R-5. The City of Detroit R5 (Medium Density Residential District) zoning code allows for a mix of housing types. For info, Detroit City Code, Chap. 50 |
Amenities
Unit Amenities
- Balcony
- Washer/Dryer Hookup
- Heating
- Bay Window
- Eat-in Kitchen
- Hardwood Floors
- Tub/Shower
- Yard
- Basement
- Dining Room
- Garden
Site Amenities
- 24 Hour Access
- Controlled Access
- Courtyard
- Laundry Facilities
- Tenant Controlled HVAC
- Trash Pickup - Curbside
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+1.5 | 8 | $1,950 | - |
| 4+1.5 | 1 | $2,250 | - |
1 1
Exceptionally walkable
90/100
Moderately drivable
70/100
Some public transit
50/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 04-003418 | Total Assessment | $668,700 |
| Land Assessment | $0 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $0 | Tax Year | 2025 |
Property Taxes
Parcel Number
04-003418
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$668,700
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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4742-4754 Anthony Wayne Dr
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