3931 MCGRAW ST APT 51
DETROIT, MI 48208

$650,000

0 Beds

27 Baths

24,255 Sq Ft

Status Active

MLS# 20240020791

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)

Details for 3931 MCGRAW ST APT 51

$27 / Sq Ft

0 parking spaces

Baseboard

80 Days on website

0.38 acres lot

Interior

Bathrooms Full

Bathrooms Total

Living Area

24,255 SqFt.

Sqft Total Bsmt

8085

Building And Construction

Number Of Units Total

Property Sub Type

Multi Family

Property Type

Residential Income

Unit Count

Year Built

1920

Exterior And Lot

Lot Size Acres

0.38

Lot Size Square Feet

16553

Zoning

Multi-Family

Utilities

Heating

Baseboard

Heating Fuel

Natural Gas

Water Heater Fuel

Natural Gas

Area And Schools

City

Detroit

County Or Parish

Wayne

School District

Detroit

Subdivision Name

BELA HUBBARDS SUB L5 P46 PLATS

Financial Info

Buyer Agency Compensation^*

2.5%

^*The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.

Short Sale

Tax Amount Summer

6489.0000

Tax Amount Winter

782.0000

Tax Annual Amount

$7,271

Price per square foot and days on website are not provided values and are calculated by RE/MAX.

Listing Office

Re/Max Connection, (248) 505-2509

Updated

11:52am UTC- 6/20/2024