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3931-51 Mcgraw Street

Detroit, MI 48208
  • $675,000
  • STATUS: Active
  • ON SITE: 11 Days
  • ID#: 2210071033
UPDATED: 32 min ago
$675,000
  • 0
    BEDS
  • 0.38
    ACRES
  • 27
    BATHS
  • 0
    1/2 BATHS
  • 24,255
    SQFT
  • $28
    $/SQFT
Type:
Multi-Family
Built:
1920
County:
Zoning:
Multi-Family
Lot Size Dimensions:
160.00X103.00

School Ratings & Info

School District:

Description

AMAZING REDEVELOPMENT OPPORTUNITY ON THIS 27 UNIT BUILDING IN THE GRAND BLVD/ MCGRAW CORRIDOR. WEST OF WAYNE STATE, WOODBRIDGE, NW GOLDBERG AND SOUTH OF CORKTOWN. MANY DEVELOPMENTS PLANNED IN THE AREA. THE BUILDING NEEDS A FULL REHAB. GREAT UNIT MIX AND GENEROUS APARTMENTS SIZES. ADDITIONAL SPACE IN THE LOWER LEVEL TO ADD UNITS. SELLER HAS PLANS FOR AN ADDITIONAL NEW 38 UNIT BUILDING AND SEVERAL TRI PLEXES NEXT DOOR.Expenses estimated at 6% mgmt fee = $15,984. Taxes $20,000. Insurance $15,000. Rehab estimated at $1 Million. Total $1,675 Million (12.8 Cap)

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IDX provided courtesy of Realcomp II Ltd. via The Calhoun Team of Pretty Home Realty and Realcomp, © 2022 Realcomp II Ltd. Shareholders. Real estate listings held by brokerages other than The Calhoun Team of Pretty Home Realty are marked with the Realcomp-approved IDX logo and are provided through IDX through Realcomp II Ltd. IDX information is provided exclusively for the consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Any use of search facilities of data on the site, other than by a consumer looking to purchase real estate, is prohibited. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. Data last updated: 2022-07-04T15:58:12.56.
www.prettyhomerealty.com/homes/130140924
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3931-51 Mcgraw Street Detroit, MI 48208

  • Price: $675,000
  • Status: Active
  • On Site: 11 Days
  • Updated: 32 min ago
  • ID#: 2210071033
0
Beds
27
Baths
0
½ Baths
0.38
Acres
24,255
SQFT
$28
$/SQFT
1920
Built
Neighborhood:
Bela Hubbards Sub L5 P46 Plats
County:
Wayne
Area:
Det South Of Grand River
School District:
DETROIT
Property Description
AMAZING REDEVELOPMENT OPPORTUNITY ON THIS 27 UNIT BUILDING IN THE GRAND BLVD/ MCGRAW CORRIDOR. WEST OF WAYNE STATE, WOODBRIDGE, NW GOLDBERG AND SOUTH OF CORKTOWN. MANY DEVELOPMENTS PLANNED IN THE AREA. THE BUILDING NEEDS A FULL REHAB. GREAT UNIT MIX AND GENEROUS APARTMENTS SIZES. ADDITIONAL SPACE IN THE LOWER LEVEL TO ADD UNITS. SELLER HAS PLANS FOR AN ADDITIONAL NEW 38 UNIT BUILDING AND SEVERAL TRI PLEXES NEXT DOOR.Expenses estimated at 6% mgmt fee = $15,984. Taxes $20,000. Insurance $15,000. Rehab estimated at $1 Million. Total $1,675 Million (12.8 Cap)
Exterior Features

Architecture Level 3 Story Architecture Style Common Entry Building Construction Materials Brick Foundation Details Basement Foundation Materials Block Lot Size Dimensions 160.00X103.00 Pool YN No Road Frontage Feet 106 Road Frontage Type Paved Side Of Street S Waterfront YN No

Interior Features

Basement Type Common Basement YN Yes Baths Total 27.00 Fireplace YN No Heating Baseboard Heating Fuel Natural Gas Living Area Source Public Records Sq Ft Combined 24255 Sq Ft Total Basement 8085 Unit Efficiency Number Of 0 Unit Four Bed Number Of 0 Unit One Bed Number Of 6 Unit Three Bed Number Of 12 Unit Two Bed Number Of 9 Water Heater Fuel Natural Gas

Property Features

Assessment 0 Down Payment Resource YN No Encroachment YN No Existing Lease YN No Gross Scheduled Income 266400.00 Homestead YN No Income Projection Projected Land Contract YN No Listing Financing CashConventional Monthly Rental Income 22200 Net Operating Income 215416.00 Number Of Units Leased 0 Ownership Status Short Sale - NoPrivate Owned Percent Homestead Exempt YN No Pets Allowed No Postal City Detroit Protection Period 90 Settlement City Sewer Sewer At Street Short Sale No Tax Amount Summer 6062.0000 Tax Amount Winter 2339.0000 Title Standard (Private) Total Tax 8401.0000 Transaction Type Sale Unit Loft Number Of 0 Unparsed Address 3931-51 Mcgraw Street Water Source Public (Municipal) Zone Conform YN Yes Zoning Multi-Family

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IDX provided courtesy of Realcomp II Ltd. via The Calhoun Team of Pretty Home Realty and Realcomp, © 2022 Realcomp II Ltd. Shareholders. Real estate listings held by brokerages other than The Calhoun Team of Pretty Home Realty are marked with the Realcomp-approved IDX logo and are provided through IDX through Realcomp II Ltd. IDX information is provided exclusively for the consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Any use of search facilities of data on the site, other than by a consumer looking to purchase real estate, is prohibited. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. Data last updated: 2022-07-04T15:58:12.56.
 
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