3931-51 MCGRAW Street Active Save Request In-Person Tour Request Virtual Tour
Detroit,MI 48208
Key Details
Property Type Multi-Family
Sub Type Common Entry Building
Listing Status Active
Purchase Type For Sale
Square Footage 24,255 sqft
Price per Sqft $26
Subdivision Bela Hubbards Sub L5 P46 Plats
MLS Listing ID 20240020791
Style Common Entry Building
Bedrooms 27
Full Baths 27
Originating Board Realcomp II Ltd
Year Built 1920
Annual Tax Amount $7,271
Lot Size 0.380 Acres
Acres 0.38
Lot Dimensions 160.00X103.00
Property Description
AMAZING REDEVELOPMENT OPPORTUNITY ON THIS 27 UNIT BUILDING IN THE GRAND BLVD/ MCGRAW CORRIDOR. WEST OF WAYNE STATE, WOODBRIDGE, NW GOLDBERG AND SOUTH OF CORKTOWN. MANY DEVELOPMENTS PLANNED IN THE AREA. THE BUILDING NEEDS A FULL REHAB. GREAT UNIT MIX AND GENEROUS APARTMENTS SIZES. ADDITIONAL SPACE IN THE LOWER LEVEL TO ADD UNITS. SELLER HAS PLANS FOR AN ADDITIONAL NEW 38 UNIT BUILDING AND SEVERAL TRI PLEXES NEXT DOOR.
Expenses estimated at 6% mgmt fee = $19,872. Taxes $20,000. Insurance $15,000. Rehab estimated at $1 Million. Total $1,675 Million (16.7 Cap)
Location
State MI
County Wayne
Area Det South Of Grand River
Zoning Multi-Family
Direction EAST OFF GRAND BLVD
Rooms
Basement Unfinished,Common
Interior
Hot Water Natural Gas
Heating Baseboard
Fireplace no
Heat Source Natural Gas
Exterior
Waterfront no
Road Frontage Paved
Garage no
Building
Foundation Basement
Sewer Sewer at Street
Water Public (Municipal)
Architectural Style Common Entry Building
Level or Stories 3 Story
Structure Type Brick
Schools
School District Detroit
Others
Pets Allowed No
Tax ID W14I008027S001
Ownership Short Sale - No,Private Owned
Assessment Amount $100
Acceptable Financing Cash,Conventional
Listing Terms Cash,Conventional
Financing Cash,Conventional