8773 Petoskey AveDetroit, MI 48204

For Sale
$10,000

Four-unit building, prime location

Overview

Added:
Dec 11, 2024
Days on market:
93
This 1918, two-story apartment building in Detroit, Michigan offers a unique investment opportunity for experienced buyers. Located on a 0.09-acre lot in Wayne County (zip code 48204), this Class D multifamily property features four units, each priced at $2,500. The asking price for the entire building is $10,000. The property is zoned residential and requires a detailed proposal for purchase, including construction plans or architectural precedents, a financing plan with proof of funds or loan pre-approval, and adherence to Detroit city design review. Note that the Detroit Land Bank Authority's tax capture may affect available tax abatements, and a payment in lieu of taxes may be required. Detailed DLBA requirements are available in attached documents, and proposals must be submitted via a provided Google Doc link. This property presents a compelling opportunity for investors who meet the specified criteria.

Highlights

  • 1918 two-story, four-unit apartment building in Detroit, MI (48204).
  • Situated on a 0.09-acre lot in Wayne County.
  • Class D multifamily property with each unit priced at $2,500, totaling $10,000 asking price.
  • Residential zoning requires a detailed purchase proposal including financing and construction plans.
  • Potential tax implications due to Detroit Land Bank Authority (DLBA) involvement; payment in lieu of taxes may apply.

Property Details for 8773 Petoskey Ave

Property type
Multifamily properties, Apartment buildings
Class
D
Year Built
1918
Buildings
1
Stories
2
Lot Size (sq. ft)
3,920 SF
Units
4

Location Insight

City
Detroit
County
Wayne
State
Michigan
Latitude
42.364504598162
Longitude
-83.122362281327
8773 Petoskey Ave, Detroit, Michigan

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8773 Petoskey Ave
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