4947 Maplewood AveDetroit, MI 48204

For Sale
$110,000

4-unit, vacant building; high redevelopment potential.

Overview

Added:
Dec 11, 2024
Days on market:
93
This 1917-built, two-story apartment building located at 4947 Maplewood Ave, Detroit, MI 48204 presents a compelling redevelopment opportunity. The property, classified as a Class B multifamily investment, encompasses 3,074 square feet on a 0.1-acre lot in Wayne County. Currently vacant, the four-unit quadruplex offers significant upside potential for investors. Each unit has its own meter, simplifying future rental management. The asking price is $110,000, translating to $27,500 per unit and $35.78 per square foot. The building includes four parking spaces and is zoned for multi-family use. While requiring renovation, this property offers a chance to capitalize on Detroit's growing real estate market. The property is being sold as-is. Its convenient location near downtown Detroit, public transportation, schools, and major freeways ensures strong tenant appeal once renovated. This is a unique chance to acquire a property with substantial potential for rental income generation. The property's current NOI is $0 due to vacancy.

Highlights

  • $110,000 asking price for a four-unit apartment building.
  • Vacant, 3,074 square foot, Class B multifamily property in Detroit, MI.
  • Located on a 0.1-acre lot with four parking spaces.
  • Built in 1917, two stories, requiring redevelopment.
  • $27,500 per unit, $35.78 per square foot.
  • Multi-family permitted zoning in Wayne County.

Property Details for 4947 Maplewood Ave

Property type
Multifamily properties, Apartment buildings
Square Feet
3,074 SF
Class
B
Year Built
1917
Buildings
1
Stories
2
Lot Size (sq. ft)
4,356 SF
Units
4

Location Insight

City
Detroit
County
Wayne
State
Michigan
Latitude
42.36059290732
Longitude
-83.123688039233
4947 Maplewood Ave, Detroit, Michigan

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4947 Maplewood Ave
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