15523 Mack Avenue
Detroit, MI 48224

More
Photos »

Tools & Resources:

Description

INVESTMENT OPPORTUNITY – MIXED-USE BUILDING PRIME MIXED-USE INVESTMENT OPPORTUNITY FEATURING 20 TOTAL UNITS, INCLUDING 18 RESIDENTIAL UNITS (4 STUDIOS, 12 ONE-BEDROOMS, 2 TWO-BEDROOMS) AND 2 COMMERCIAL SPACES. ALL RESIDENTIAL UNITS INCLUDE 1 BATHROOM, OFFERING A STRONG AND VERSATILE RENTAL MIX.POSITIONED DIRECTLY ACROSS FROM GROSSE POINTE, THIS PROPERTY OFFERS THE ADVANTAGE OF GROSSE POINTE PROXIMITY WITH DETROIT PRICING, MAKING IT HIGHLY ATTRACTIVE FOR BOTH RESIDENTIAL TENANTS AND COMMERCIAL USERS SEEKING STRONG SURROUNDING DEMOGRAPHICS AND FOOT TRAFFIC.THE BUILDING IS THOUGHTFULLY CONFIGURED:GARDEN/BASEMENT LEVEL: 2 ONE-BEDROOM UNITS, 2 COMMERCIAL UNITS.FIRST & SECOND FLOORS: EACH FLOOR FEATURES A MIX OF STUDIOS, ONE-BEDROOM, AND TWO-BEDROOM UNITS WITH EFFICIENT LAYOUTS RANGING APPROXIMATELY 435–599 SQ FT, PLUS SHARED COMMON AREAS. SECOND FLOOR MIRRORS THE FIRST.WALKABLE TO EVERYDAY CONVENIENCES INCLUDING ALDI, DOLLAR TREE, HUNTINGTON BANK, PUBLIC TRANSPORTATION, AND NEARBY RESTAURANTS AND RETAIL.JUST A 5-MINUTE DRIVE TO BEAUMONT HOSPITAL, TRADER JOE'S, AND STARBUCKS.QUICK ACCESS TO CHICK-FIL-A AND CHIPOTLE MEXICAN GRILL ALONG MACK AVE, AND APPROXIMATELY 15 MINUTES TO LITTLE CAESARS ARENA AND DOWNTOWN DETROIT.DEVELOPMENT ADVANTAGE: ARCHITECTURAL DRAWINGS APPROVED – SHOVEL READY FOR DEVELOPMENTADDITIONAL HIGHLIGHTS:NO KNOWN SPECIAL ASSESSMENTS NO KNOWN ENCROACHMENTS ON-STREET PARKING WITH REAR ALLEY ACCESSINVESTMENT & VALUE-ADD POTENTIAL:PROPERTY PRESENTS STRONG UPSIDE WITH THE ABILITY TO STABILIZE RENTS AND MAXIMIZE INCOME. MAY QUALIFY FOR MULTIPLE INCENTIVE PROGRAMS, INCLUDING: BROWNFIELD TIF, OPRA, PILOT PROGRAMS, SBA FINANCING (COMMERCIAL), POTENTIAL 4% LIHTC (LOW-INCOME HOUSING TAX CREDIT) ELIGIBILITY.SELLER MAY BE OPEN TO LAND CONTRACT TERMS.EXCELLENT OPPORTUNITY FOR INVESTORS SEEKING A VALUE-ADD MIXED-USE ASSET IN A HIGH-DEMAND, HIGH-VISIBILITY CORRIDOR WITH LONG-TERM GROWTH POTENTIAL. BATVAI

Features

• Property Type: Multi Family Home
• Sub Type: Multi Family Home
• Listing Status: Active
• County/Area: Wayne County
• Zip Code: 48224
• Year Built: 1929
• School District: Detroit
• Basement: Yes
• Lot Size: 7405 sq ft lot
• Association: Yes
• Association Amenities: Pets Allowed
• Construction Materials: Brick
• Directions: PROPERTY LOCATED ON THE RIGHT OF MACK AVE, BETWEEN WAYBURN ST AND NOTTINGHAM RD.
• Heat Source: Natural Gas
• Heating: Radiant, Steam
• Lot Size Area: 0.17
• Lot Size Square Feet: 7405.2
• Lot Size Units: Acres
• MLS Area Major: Wayne County - 100
• MLS Area Minor: Wayne County - 100
• Main Type: Multi Family
• Parcel Number: W21I001422S
• Road Frontage: 50
• SEV: 338500
• Street Type: Paved
• Tax Annual Amount: 24808
• Tax Legal Description: N MACK E 0.14 FT ON S LINE BG E 0.10 FT ON N LINE OF 7 LYG N & ADJ MACK AVE 120 FT WD, 8 THRU 10 & S 1/2 OF VAC ALLEY ADJ EXC MACK AVE AS WD TO 120 FT NOTTINGHAM SUB L38 P26 PLATS W C R 21/465 4&5 & S 1/2 OF VAC ALLEY ADJ EXC MACK AVE AS WD TO 120 FT MEININGER SUB L46 P47 PLATS W C R 21/270 100.14 X 82.64A
• Total Approx Sq Ft All Bldgs: 9866
• Total Num Units: 20
• Water Source: Public