Contacts
Nick Kirby
(248) 394-0000 x 255
Elmer Peysakhov
GREA
(248) 394-0000 x 256
Property Details
- Property Type Other
- Units 16
- Year Built 1948
- Date Updated Apr 26, 2024
- Website dexterewald.sharplaunch.com
Global Real Estate Advisors are pleased to present the exclusive offering of Dexter & Ewald Apartments in Detroit, MI. Located in the nation’s Motor City, the properties are a collection of 16 units originally constructed between 1948 & 1949 and renovated in 2021/2022. This provides a buyer with value-add potential through rent raises, a few light unit upgrades and implementing a RUBS program on the property.
Since acquiring the building in 2020, the owner has spent $160,000 on capital improvements. These include new cameras, security doors, unit upgrades, new appliances, common area and HVAC updates, including 5 new furnaces in the 13700 Dexter building. Significant plumbing repairs have been made to reduce the ongoing utility expense for the new owner by 35%.
Eight of the 16 units have been substantially updated. For these units, rents have been increased from $500 to as high as $975. There is a significant opportunity for a new owner to either increase existing rents on unimproved units and / or invest another $50,000 -$60,000 in the unit updates in the unimproved units and significantly increase the rents by as much as 22% across the portfolio.
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Getting around
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Location
- City Detroit, MI
- Neighborhood Durfee
- Zip Code 48238
- Market Detroit
Points of Interest
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CDM Transport LLC
3.22 miles
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Grand Boulevard
3.37 miles
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Baltimore Street
3.49 miles
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Detroit
3.52 miles
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Amsterdam Street
3.65 miles
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Ferry Street
3.98 miles
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Warren Avenue
4.22 miles
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Canfield Street
4.57 miles
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Checker Cab #977
4.89 miles
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Mack Avenue
4.95 miles
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Shamrock
0.26 miles
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Clark
0.26 miles
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BP
0.45 miles
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Citgo
0.47 miles
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Gulf
0.47 miles
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Mobil
0.49 miles
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Citgo
0.54 miles
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Exxon
0.56 miles
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Sunoco
0.60 miles
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Valero
0.66 miles
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Student / Vistor Parking Lot D
1.29 miles
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Student / Vistor Parking Lot B
1.32 miles
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Faculty / Visitor Parking Lot C
1.35 miles
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Vistor Parking Lot B
1.37 miles
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Faculty / Staff Parking Lot E
1.37 miles
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Student Parking Lot I
1.46 miles
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Faculty / Staff Parking Lot A
1.46 miles
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Student Parking Lot H
1.49 miles
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Faculty / Staff Parking Lot H
1.50 miles
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Student / Vistor Parking Lot F
1.58 miles
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Fontaine Motel
2.37 miles
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Town Motel
2.73 miles
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Rio Grand Motel
2.74 miles
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Hotel St. Regis
3.33 miles
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Pinkinn Motel
3.44 miles
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Hamtramck Hotel & Hostel
3.65 miles
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The Inn on Ferry Street
4.05 miles
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Veteran's Park Hotel
4.06 miles
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Baymont by Wyndham Ferndale/Royal Oak
4.19 miles
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El Moore
4.56 miles
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Value Save Food Center
0.36 miles
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King Saver Foods
0.47 miles
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Food Farm Super Market
1.10 miles
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Dollar General
1.76 miles
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The Shops at Woodward Place
1.95 miles
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ALDI
1.95 miles
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Glory Supermarket
2.11 miles
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Savon Foods Supermarket
2.14 miles
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Grand Price Supermarket
2.16 miles
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Family Foods Superstore
2.28 miles
In-Depth Research Available for this Property
Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.