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DUNEDIN APARTMENTS 2 Multifamily Properties Offered at $2,163,000 in Detroit, MI
Investment Highlights
- 28 Units with Significant Rent Upside
- Historic Character with Renovated Unit Appeal
- Value Add Multifamily Near Henry Ford Health's $3B Expansion
Executive Summary
Discover the opportunity to acquire 7536 & 7510–7512 Dunedin Street, a renovated 28-unit multifamily portfolio located in Detroit’s highly desirable Virginia Park neighborhood. With a mix of occupied units providing in-place cash flow and continued upside through lease optimization, the property offers an attractive blend of immediate income, historic appeal, and long-term value creation in a proven rental market.
Current rents remain below those achieved by nearby renovated apartment communities, with comparable properties demonstrating an average rental premium of approximately $0.61 per square foot. This gap provides a clear opportunity for future revenue growth through natural tenant turnover and continued lease optimization while benefiting from the property's existing occupancy and renovated condition. With a diverse unit mix that includes studios, one-bedroom, two-bedroom, and three-bedroom layouts, the asset is well-positioned to attract a broad tenant base and maintain resilient occupancy.
As investment activity continues to spread outward from Midtown and New Center into surrounding historic neighborhoods, Virginia Park and LaSalle Gardens have emerged as increasingly sought-after destinations for both renters and investors seeking strong fundamentals, neighborhood character, and long-term appreciation potential.
Current rents remain below those achieved by nearby renovated apartment communities, with comparable properties demonstrating an average rental premium of approximately $0.61 per square foot. This gap provides a clear opportunity for future revenue growth through natural tenant turnover and continued lease optimization while benefiting from the property's existing occupancy and renovated condition. With a diverse unit mix that includes studios, one-bedroom, two-bedroom, and three-bedroom layouts, the asset is well-positioned to attract a broad tenant base and maintain resilient occupancy.
As investment activity continues to spread outward from Midtown and New Center into surrounding historic neighborhoods, Virginia Park and LaSalle Gardens have emerged as increasingly sought-after destinations for both renters and investors seeking strong fundamentals, neighborhood character, and long-term appreciation potential.
Property Facts
| Price | $2,163,000 | Number of Properties | 2 |
| Price / SF | $99.99 / SF | Individually For Sale | 0 |
| Cap Rate | 7.25% | Total Building Size | 21,632 SF |
| Sale Type | Investment | Total Land Area | 0.49 AC |
| Status | Active |
| Price | $2,163,000 |
| Price / SF | $99.99 / SF |
| Cap Rate | 7.25% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 21,632 SF |
| Total Land Area | 0.49 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 7536 Dunedin St, Detroit, MI 48206 | Multifamily | 17,600 SF | 1924 | - |
| 7512 Dunedin St, Detroit, MI 48206 | Multifamily | 4,032 SF | 1915 | - |
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Contacts
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Deno Bistolarides -
Eric Reed -
Kishon Harbert -
Ryan Vinco -
Encore Real Estate Investment Services
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