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Kory Lambarth

kory@korvanrealty.com +1(313) 283-2781

$ 375,000

Est. payment | -/mo

22 Baths

0.31 Acres Lot

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$ 375,000

Est. payment | -/mo

Save

22 Baths

0.31 Acres Lot

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

MLS Listing ID 20261066026

Year Built 1966

Annual Tax Amount $21,100

Lot Size 0.310 Acres

Acres 0.31

Lot Dimensions 134X100

Source Realcomp

Property Description

***Redevelopment Opportunity***Offered at $375,000—approximately $17,045 per unit before renovation. Bring new life to this highly visible brick apartment building along Detroit's West Chicago corridor. The property offers approximately 14,400 square feet of gross building area and is configured with 22 one-bedroom, one-bath apartments across three levels, including the garden level. The substantial masonry structure features a secured perimeter, off-street parking and strong street presence. A newer roof, reported to be in good condition, provides an important head start. Installing mini-split systems could offer a practical approach to modernizing heating and cooling without rebuilding a centralized HVAC system.Gutted to the studs, the building provides a straightforward renovation platform with uniform, nicely sized units and efficient access for the trades. Generously sized bedrooms may potentially support two occupants.Two additional interior spaces offer potential flexibility for resident gathering, community programming, management or other shared uses. One currently houses the interior bank of electrical meters. Relocating those meters outside, as may be required by the utility provider, could open that space for redevelopment. The second may become available if the apartments are developed with in-unit laundry.Vacant and requiring comprehensive rehabilitation, the property presents a compelling opportunity for an experienced investor or development team to restore a sizable multifamily asset, return 22 housing units to productive use and establish meaningful long-term income potential.Offered strictly AS-IS. Buyer and buyer's agent must independently verify all measurements, unit counts, systems, utility requirements, zoning, permitted uses, property condition, occupancy potential and rehabilitation costs. Any proposed shared space, reconfiguration or occupancy remains subject to all applicable approvals.Same ownership as MLS 20261060857

Location

State MI

County Wayne

Zoning Multi-Family,Residential

Direction ACCESSIBLE VIA GRAND RIVER, I-96, FORD RD, TAKE SCHAEFER HWY TO CHICAGO, BUILDING IS LOCATED JUST EAST ON THE NORTH EAST CORNER OF CHICAGO AND LITTLEFIELD

Interior

Heating Baseboard

Cooling Wall Unit(s)

Exterior

View Y/N No

Building

Water Public

Structure Type Brick,Vinyl Siding

Schools

School District Detroit

Others

Tax ID W22I004694C8

Acceptable Financing Cash

Listing Terms Cash

Listed by Elite Urban Realty Professionals

NEARBY SCHOOLS & PROPERTIES

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(313) 283-2781

kory@korvanrealty.com

13242 W Chicago Street Detroit, MI 48228

Kory Lambarth

Key Details

Location

Interior

Exterior

Building

Schools

Others

NEARBY SCHOOLS & PROPERTIES

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13242 W Chicago Street