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Scott Hutchison

scott@web-homes.net +1(616) 291-0440

$ 4,100,000

Est. payment | -/mo

21 Baths

6,969 Sqft Lot

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$ 4,100,000

Est. payment | -/mo

Save

21 Baths

6,969 Sqft Lot

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

MLS Listing ID 20261080518

Year Built 1930

Annual Tax Amount $41,995

Lot Size 6,969 Sqft

Acres 0.16

Lot Dimensions 50X140

Source Realcomp

Property Description

240 Mack Ave presents a rare opportunity to acquire a fully renovated, 21-unit multifamily asset in the heart of Midtown Detroit, just steps from Wayne State University and surrounded by some of the city's strongest employment, educational, medical, and entertainment anchors.The property is currently 100% occupied, providing immediate and stabilized cash flow from day one. The unit mix includes 17 one-bedroom apartments and 4 studio units, offering efficient layouts well suited for the strong rental demand in the Midtown market.Offered at $4.1 million, the property delivers an attractive 6.47% in-place capitalization rate. An additional advantage is the existing tax abatement, which has been confirmed to survive the transfer of ownership, helping preserve the property's favorable operating expenses and overall investment performance.With a fully renovated condition, stabilized occupancy, strong in-place income, and a premier Midtown Detroit location near Wayne State University, 240 Mack Ave offers investors the opportunity to acquire a turnkey multifamily asset in one of Detroit's most desirable and established rental markets.

Location

State MI

County Wayne

Zoning Multi-Family

Direction Turn into street from John R or Brush St

Interior

Heating Forced Air

Exterior

View Y/N No

Building

Water Public

Structure Type Brick,Vinyl Siding

Schools

School District Detroit

Others

Tax ID W01I000880S

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Special Listing Condition {"Other":true}

Listed by Tarar Homes

NEARBY SCHOOLS & PROPERTIES

“Part of my Job as Your Real Estate Expert is to protect you from the incompetency that runs rampet in our industry”

+1(616) 291-0440

scott@web-homes.net

8 N. Bridge Street Suite 104B, Rockford, MI 49341, United States

240 Mack Avenue Detroit, MI 48201

Scott Hutchison

Key Details

Location

Interior

Exterior

Building

Schools

Others

NEARBY SCHOOLS & PROPERTIES

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240 Mack Avenue