101267 . 54 Home SFR Detroit, MI

101267 . 54 Home SFR Detroit, MI, Detroit, MI 48227

  • For Sale $4,400,000
  • Property Type Multi-Family
  • Property Size 62,503 SF
  • Units 54
  • Lot Size 5.93 Acre
  • Additional Rent Contact for pricing
  • Year Built 1940
  • Date Updated Jun 24, 2024
Detroit, located in southeastern Michigan, is the largest city in the state and has a rich history as a major center of American industry and innovation. The city is known for its contributions to the automotive industry and has a legacy of manufacturing and industry that continues to drive the local economy. The city’s economy has undergone significant changes in recent years, with the decline of the auto industry leading to high levels of unemployment and poverty. However, there have been efforts to revitalize the city, including the development of new industries such as technology, healthcare, and finance. There has also been a focus on attracting new businesses and entrepreneurs to the city, with the creation of innovation hubs and coworking spaces. In terms of city development, Detroit has seen a significant resurgence in recent years, with new construction and renovation projects revitalizing neighborhoods and boosting the local economy. Major development initiatives include the construction of new residential, commercial, and retail spaces, as well as the redevelopment of historic buildings and sites. Education is a top priority in Detroit, with a range of public, private, and charter schools available to students. There are also several colleges and universities in the city, including Wayne State University, Marygrove College, and the College for Creative Studies. These institutions offer a range of programs and services designed to support students and provide them with the skills and knowledge they need to succeed in the workforce. In terms of tourism, Detroit is a popular destination for both domestic and international travelers, offering a range of attractions, cultural events, and outdoor activities. Visitors can explore the city’s rich history at museums such as the Detroit Institute of Arts, or enjoy a game or concert at one of the city’s many sporting and entertainment venues. The city is also home to several parks and green spaces, including Belle Isle Park and the Detroit RiverWalk, offering opportunities for recreation and relaxation. In conclusion, Detroit is a city that is undergoing a resurgence, with a focus on revitalization and development to drive economic growth and improve the quality of life for residents. With a rich history and a vibrant arts and culture scene, the city is poised to continue to attract new residents and visitors in the coming years.

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Highlights

  • The portfolio includes 52 single-family detached homes and one duplex
  • The average home is 1,157 square feet
  • Mix of two-, three-, four- and five-bedroom homes
  • Homes were built between 1919 and 1963, with an average vintage of 1940
  • The portfolio is managed by a local professional property management company
  • 98% leased to fully vetted tenants
  • There are 38 Section 8 tenants in the portfolio
  • Average monthly rental rate of $866
  • Rents are 10% below monthly market rents
  • Year 1 stabilized cap rate of 9.28%
  • Year 1 stabilized yield of 16.77%
  • Average asking price of $81,481
  • The asking price is 90% below the current median home price in Wayne County
  • All SVN® Offices Independently Owned & Operated
  • Local Broker License Information: www.SFRhub.com/realestatelicensing

Contacts

broker

Tim Orscheln

SVN | SFRhub Marketplace

Location

Getting Around

  • Walk Score ®

    51/100 Somewhat Walkable
  • Transit Score ®

    43/100 Some Transit
  • Bike Score ®

    40/100 Somewhat Bikeable
Powered by Walk Score ®
  • City Detroit, MI
  • Neighborhood Brooks
  • Zip Code 48227
  • Market Detroit

Points of Interest

  • CDM Transport LLC

    2.66 miles

  • Walnut Grove Station

    5.14 miles

  • Smith's Creek Depot Station

    5.19 miles

  • Dearborn

    5.33 miles

  • Firestone Station

    5.40 miles

  • Grand Boulevard

    6.34 miles

  • Baltimore Street

    6.41 miles

  • Detroit

    6.41 miles

  • Amsterdam Street

    6.52 miles

  • Ferry Street

    6.74 miles

  • Sunoco

    0.33 miles

  • Marathon

    0.42 miles

  • Clark

    0.56 miles

  • Citgo

    0.56 miles

  • Zoom

    0.66 miles

  • Exxon

    0.84 miles

  • BP

    1.00 miles

  • Rhombus Energy Solutions

    4.93 miles

  • Tesla Supercharger

    6.12 miles

  • Detroit Pistons Performance Center

    6.21 miles

  • MRC parking lot

    2.72 miles

  • Parking Lot G

    3.13 miles

  • Vistor Parking Lot A

    3.17 miles

  • Vistor Parking Lot B

    3.20 miles

  • Parking Lot C

    3.26 miles

  • Parking Lot E

    3.28 miles

  • Parking Lot D

    3.30 miles

  • Paid Parking

    3.42 miles

  • Student / Vistor Parking Lot B

    3.68 miles

  • Holiday Inn Express & Suites

    3.13 miles

  • SpringHill Suites Detroit Dearborn

    3.17 miles

  • Residence Inn Detroit Dearborn

    3.22 miles

  • TownePlace Suites Detroit Dearborn

    3.24 miles

  • Park Drive Motel

    3.32 miles

  • Royal Budget Inn

    3.34 miles

  • Doubletree by Hilton Hotel Detroit-Dearborn

    3.44 miles

  • Hawthorn Suites By Wyndham Dearborn

    3.45 miles

  • Courtyard Detroit Dearborn

    3.72 miles

  • Riviera Motel Detroit

    3.76 miles

  • Checkers

    0.39 miles

  • McDonald's

    0.45 miles

  • Lola Mae's Bistro & Bar

    0.59 miles

  • Lavish Bar & Grill

    0.75 miles

  • Omega Coney Island

    0.91 miles

  • Church's Chicken

    0.95 miles

  • Chita's Nefertiti Bar

    1.17 miles

  • Popeyes

    1.29 miles

  • White Castle

    1.40 miles

  • Wendy's

    1.65 miles

  • Dossin Elementary-Middle School

    0.76 miles

  • Academy of Oak Park-Whitcomb

    0.85 miles

  • Hazel Park Empowerment West Alternative School

    0.92 miles

  • Joan Ann Bullock Academy

    0.92 miles

  • Temple of Faith Baptist School

    1.04 miles

  • Burns Elementary-Middle School

    1.08 miles

  • Henderson Academy

    1.08 miles

  • Breithaupt Career and Technical Center

    1.18 miles

  • Detroit Innovation Academy

    1.23 miles

  • Saint Mary of Redford Elementary School

    1.37 miles

  • Allen Baptist Childcare & Development Center

    0.89 miles

  • Hampton Church Child Care Center

    1.60 miles

  • Children's Village International Center

    1.99 miles

  • Sunnybrook Day Nursery

    2.07 miles

  • Kidz Kingdom

    2.09 miles

  • New West Side Head Start

    2.19 miles

  • Tott's Early Learning Center

    2.23 miles

  • Pencil Palace Daycare & Nursery School

    2.51 miles

  • Academy of Detroit-West

    2.66 miles

  • Village of Shiny Stars Child Care Center

    2.78 miles

Frequently Asked Questions

How much does 101267 . 54 Home SFR Detroit, MI cost?

The space currently listed for sale at 101267 . 54 Home SFR Detroit, MI asks for $4,400,000.

What is the total square footage of 101267 . 54 Home SFR Detroit, MI?

101267 . 54 Home SFR Detroit, MI totals 62,503 square feet.

When was this property built?

101267 . 54 Home SFR Detroit, MI was built in 1940.

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Contact Listing Broker

broker

Tim Orscheln

SVN | SFRhub Marketplace