525 W Lafayette Boulevard
Detroit, MI 48226

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Description

Exceptional investment opportunity in the Fort Shelby Residences, located in the heart of Detroit's Central Business District. This offering includes two high-floor condos situated just below the penthouse level. Both units are fully leased through July 2026, providing immediate and reliable cash flow.Residents benefit from the amenities of the Hilton DoubleTree Hotel located below the residences, including lobby reception, coffee shop, restaurant and bar, business and reception center, and fitness room. The residential floors sit above the hotel in the historic Albert Kahn tower, offering additional privacy.These units enjoy extremely low property taxes—less than $3,000 per unit per year—thanks to the NEZ-Rehab tax abatement in place through 2032. The HOA does not restrict long-term leasing; short-term rentals are not permitted.With continued development throughout West Downtown, including the Cambria Hotel, Water Square Apartments at the former Joe Louis site, and the Ralph C. Wilson Jr. Centennial Park, these condos are well-positioned for appreciation. As individual condominium units, they may also be sold separately in the future to maximize resale value.

Features

• Property Type: Condo/Townhouse
• Sub Type: Condominium
• Listing Status: Active
• County/Area: Wayne County
• Zip Code: 48226
• Year Built: 1927
• School District: Detroit
• Sq.Ft.: 2,209 sq ft
• Total Rooms: 6
• Bedrooms: 3
• Full Baths: 3
• Basement: Slab
• Baths: 3
• Association: Yes
• Basement Type: No
• Bathroom 1: Level-Main
• Bedroom 2: 13 x 10, Level-Main
• Building Area Total: 2209
• Construction Materials: Brick, Stone
• Cooling: Central Air
• Cross Street: W. Lafayette & 2nd
• Directions: Condos are above the Hilton DoubleTree Hotel
• HOA Fee: 1100
• HOA Frequency: Monthly
• Heating: Heat Pump
• MLS Area Major: Wayne County - 100
• MLS Area Minor: Wayne County - 100
• Main Full Baths: 3
• Main Level Primary: Yes
• Main Type: Residential
• Parcel Number: W04I000118S045
• Pets: Yes
• Primary Bathroom: Level-Main
• Primary Bedroom: 11 x 15, Level-Main, 15 x 12
• SEV: 22500
• Sewer: Public Sewer
• Street Type: Paved
• Tax Annual Amount: 2179
• Tax Legal Description: S LAFAYETTE W UNIT 42; WAYNE COUNTY CONDO PLAN NO. 945 "FORT SHELBY HOTEL CONDOMINIUM" RECORDED IN L46262 P1428-1542 DEEDS, WCR 4/132 0.461% SPLIT/COMBINED ON 07/23/2018 FROM 04000118.005;
• Total Baths Above Grade: 3
• Total Beds Above Grade: 3
• Total Rooms AG: 3
• Water Source: Public