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3931 51 Mcgraw Street

Detroit, MI 48208

– beds
27 baths
24,255 sqft
~1/2 acre lot
$26 per sqft
1920 build
– on site

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 = $19,872. Taxes $20,000. Insurance $15,000. Rehab estimated at $1 Million. Total $1,675 Million (16.7 Cap)

Listing courtesy of REALCOMP / Re/Max Connection

Last checked: Checking… • Last updated Dec 11, 2024 •

MLS# 20240020791 —

The Building

Year Built:

1920
New Construction:

false
Construction Materials:

Brick
Architectural Style:

CommonEntryBuilding
Levels:

Three
Basement:

Common, Full, Unfinished
Basement:

true
Foundation Details:

Basement, Block
Above Grade Finished Area:

24255.0
Below Grade Total Area:

8085

Interior

Fireplace:

false

Room Dimensions

Living Area:

24255.0
Living Area Source:

PublicRecords

Location

Directions:

EAST OFF GRAND BLVD
Cross Street:

S of MCGRAW/E of W. GRAND BLVD

The Property

Parcel Number:

W14I008027S001
Property Type:

ResidentialIncome
Property Sub Type:

MultiFamily
Lot Size Acres:

0.38
Lot Size Area:

0.38
Lot Size Dimensions:

160.00X103.00
Lot Size Units:

Acres
Zoning Description:

Multi-Family
Road Frontage Feet:

106
Road Frontage Type:

Paved

Listing Agent

Contact info:

Taxes

Tax Legal Description:

S MCGRAW N 5 FT OF E 148.53 FT 2 86.75 FT ON W LN 132.04 FT ON E LN OF E 148.53 FT 1 BLK 14 BELLA HUBBARDS SUB L13 P5 PLATS, W C R 14/76 160.12 IRREG
Tax Assessed Value:

82993
Tax Annual Amount:

7271.0

Baths

Bathrooms Total:

27
Bathrooms Full:

27

Heating & Cooling

Heating:

Baseboard, NaturalGas
Heating:

true
Cooling:

false

Utilities

Sewer:

SewerAtStreet
Water Source:

Public

Schools

High School District:

Detroit

The Community

Subdivision Name:

BELA HUBBARDS SUB L5 P46 PLATS
Senior Community:

false
Pool Features:

None
Waterfront:

false
Pets Allowed:

No

Parking

Attached Garage:

false

Re/Max Connection

Estately Inc. is a Michigan licensed brokerage #6505374810, managed by Michigan licensed REALTOR® broker Darren Yearsley #6505374810.

IDX information is provided exclusively for 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.

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Soundscore™

Provided by HowLoud

Sale history

Date	Event	Source	Price	% Change
11/27/24 Nov 27, 2024	Listed / Active	REALCOMP	$650,000

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This multifamily located in Rosa Parks, Detroit, MI 48208 is currently for sale for $650,000. 3931 51 Mcgraw Street is a 24,255 square foot multifamily with – beds and 27 baths that has been on Estately for 25 days. 3931 51 Mcgraw Street is in the Rosa Parks neighborhood of Detroit and has a WalkScore® of 27, making it car-dependent. This multifamily is in the attendance area of Thirkell Elementary-Middle School, Frederick Douglass Academy For Young Men, Detroit International Academy For Young Women, Ludington Magnet Middle School, Clippert Academy, Edward 'Duke' Ellington Conservatory Of Music & Art At Beckham Academy, Spain Elementary-Middle School, Detroit Collegiate Prepatory High School At Northwestern, Detroit School Of Arts, and Foreign Language Immersion And Cultural Studies.

Re/Max Connection

Estately Inc. is a Michigan licensed brokerage #6505374810, managed by Michigan licensed REALTOR® broker Darren Yearsley #6505374810.