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101129 . 41 Home SFR Detroit, MI - Availability Details

101129 . 41 Home SFR Detroit, MI, Detroit, MI 84225

  • For Sale $8,500,000
  • Property Type Multi-Family
  • Property Size 48,459 SF
  • Lot Size 7.36 Acre
  • Year Built 1960
  • Date Updated Jul 29, 2022
Detroit is the largest and most populous city in Michigan and has an estimated population of 670,031 people. The city is located on the United States-Canada border and at the seat of Wayne County. It is a major port on the Detroit River, one of the four major straits that connect the Great Lakes system to the Saint Lawrence Seaway. The Detroit metropolitan area, often referred to as Metro Detroit, is home to 4.3 million people, making it the second-largest in the Midwest after the Chicago metro area. Upon Henry Ford’s assembly line creation in 1910 in Highland Park, mass production was revolutionized and catalyzed Detroit’s growth and industrialization. Thanks to the accessibility of the Great Lakes and railways, automobile producers could refine their industry and elevate Detroit from a second-tier industrial city to a worldclass city earning the nickname “the Motor City or Motown.” It is still home and headquarters to the “Big Three” automobile manufacturers General Motors, Ford, and Fiat Chrysler. Today, Metro Detroit has a workforce of about 2.6 Million, over 347,000 businesses, and a Gross Metropolitan Product of $200.9 billion. Detroit’s economy is far more diverse today and features growth in real estate, finance, information technology, research, healthcare, biomedical, trade, transportation, tourism, retail, and media. According to the Detroit Regional Chamber, Detroit’s largest employers include the “Big Three,” Beaumont Health, Henry Ford Health System, Ilitch Companies, Trinity Health Michigan, and major universities. Metro Detroit is home to many universities, including Wayne State, University of Michigan - Dearborn, and the University of Detroit Mercy. Detroit’s automotive heritage has played a prominent role in shaping the culture of Motor City. The pride of Detroit’s music history is the success of Motown Records during the 1960s and early 1970s. The record label popularized recording acts, including Marvin Gaye, Stevie Wonder, Diana Ross, and The Supremes. Detroit still stays true to its roots with its Jazz and Motown-themed entertainment. The Detroit Institute of Arts is world-famous for its Diego Rivera Detroit Industry Murals. The motor city also features diverse dining and nightlife experiences thanks to its multicultural population. In conclusion, the opportunity to buy an investment portfolio in Detroit is rare, and many players are hunting for a chance to include this city in their checklists. It is a wise decision for investors to consider this portfolio and not miss out on what many may call a golden opportunity.
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Location

  • Walk Score ® Walker's Paradise (98)
  • Transit Score ® Excellent Transit (85)
  • Bike Score ® Bikeable (64)
Powered by Walk Score ®
  • City Detroit, MI
  • Neighborhood Downtown Detroit
  • Zip Code 84225
  • Market Detroit

Points of Interest

Campus Martius

0.09 miles

Congress Street

0.11 miles

Campus Martius

0.12 miles

Cadillac Center

0.16 miles

Financial District

0.20 miles

Millender Center

0.21 miles

Bricktown

0.27 miles

Greektown

0.28 miles

Fort/Cass

0.31 miles

Broadway

0.31 miles

Mobil

0.36 miles

Beaubien Place Garage

0.43 miles

Speedway

0.47 miles

Bedrock Kahn Garage

0.53 miles

Bedrock John R 1

0.91 miles

Marathon

0.95 miles

Mobil

1.04 miles

Bedrock Corktown

1.15 miles

Marathon

1.23 miles

Bedrock QLDC 2

1.26 miles

Ally Detroit Center Garage

0.11 miles

Two Detroit Center Garage

0.13 miles

1001 Woodward Garage

0.13 miles

One Campus Martius Garage

0.15 miles

Financial District Garage

0.16 miles

Griswold/Larned Garage

0.17 miles

Griswold Capitol Park

0.18 miles

Greektown Garage

0.19 miles

Ford Underground Parking

0.21 miles

Brush & Congress Lot

0.22 miles

Courtyard by Marriott Detroit Downtown

0.22 miles

Courtyard

0.23 miles

The Westin Book Cadillac Detroit

0.23 miles

Atheneum Suite Hotel

0.24 miles

Shinola Hotel

0.24 miles

Hotel Indigo Detroit Downtown

0.24 miles

Detroit Foundation Hotel

0.25 miles

Crowne Plaza Detroit Downtown Riverfront

0.26 miles

Hilton Garden Inn Detroit Downtown

0.31 miles

Detroit Marriott at the Renaissance Center

0.35 miles

City Market Detroit

0.19 miles

Rivertown Market

0.69 miles

Amori's Marketplace

0.73 miles

Gratiot Central Market

0.99 miles

Whole Foods Market

1.31 miles

Family Fair Marketplace

1.32 miles

Gordon Food Service

1.43 miles

Honey Bee Market La Colmena

1.63 miles

Algo Especial Super Market

1.73 miles

Harbortown Market

1.93 miles

Contacts

broker

Thomas C. Johnston

SVN | SFRhub Advisors

(602) 403-3695

Highlights

  • All 41 homes are single family detached
  • Asset mix offers two-, three- and fourbedroom floor plans
  • All homes are fully remodeled and in practically brand-new condition
  • Currently, 100% occupied with fully qualified tenants
  • Little to no Cap-Ex or R&M with fully renovated portfolio
  • Value add opportunity as rents are below market
  • Stabilized Year 1 Gross Yield 9.97%
  • Stabilized Year 1 Cap Rate of 6.31%
  • Year 1 NOI at stabilization $536,758
  • Rents in Detroit have increased by 15% yearover-year
  • Over the past 3 years rents in Detroit have grown by 35%
  • Renter-occupied households in Detroit account for 44% of the total occupied housing units in the metropolitan area
  • All SVN® Offices Independently Owned & Operated
  • Local Broker License Information: www.SFRhub.com/realstatelicensing

Frequently Asked Questions

What year was 101129 . 41 Home SFR Detroit, MI built and finished?

101129 . 41 Home SFR Detroit, MI was completed in 1960.

Contact Listing Broker

broker

Thomas C. Johnston

SVN | SFRhub Advisors

(602) 403-3695

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