13242 W Chicago Street, Detroit, MI 48228 2561
13242 W Chicago Street, Detroit, MI 48228 2561
13242 W Chicago Street, Detroit, MI 48228 2561
13242 W Chicago Street, Detroit, MI 48228 2561
13242 W Chicago Street, Detroit, MI 48228 2561
13242 W Chicago Street, Detroit, MI 48228 2561
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Shannon Bagdonas

Shannon Bagdonas

+1(313) 766-8387
$ 375,000
Est. payment | /mo

22 Baths

9,600 SqFt

Save
$ 375,000
Est. payment | /mo
Save

22 Baths

9,600 SqFt

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 9,600 sqft

Price per Sqft $39

Subdivision Mi

MLS Listing ID 61022435

Full Baths 22

Year Built 1966

Annual Tax Amount $21,100

Lot Size 0.310 Acres

Acres 0.31

Lot Dimensions 134X100

Property Sub-Type Multi-Family

Property Description

***Redevelopment Opportunity*** Offered at $375,000--approximately $17,045 per unit before renovation. Bring new life to this highly visible brick apartment building along Detroit's West Chicago corridor. The property offers approximately 14,400 square feet of gross building area and is configured with 22 one-bedroom, one-bath apartments across three levels, including the garden level. The substantial masonry structure features a secured perimeter, off-street parking and strong street presence. A newer roof, reported to be in good condition, provides an important head start. Installing mini-split systems could offer a practical approach to modernizing heating and cooling without rebuilding a centralized HVAC system. Gutted to the studs, the building provides a straightforward renovation platform with uniform, nicely sized units and efficient access for the trades. Generously sized bedrooms may potentially support two occupants. Two additional interior spaces offer potential flexibility for resident gathering, community programming, management or other shared uses. One currently houses the interior bank of electrical meters. Relocating those meters outside, as may be required by the utility provider, could open that space for redevelopment. The second may become available if the apartments are developed with in-unit laundry. Vacant and requiring comprehensive rehabilitation, the property presents a compelling opportunity for an experienced investor or development team to restore a sizable multifamily asset, return 22 housing units to productive use and establish meaningful long-term income potential. Offered strictly AS-IS. Buyer and buyer's agent must independently verify all measurements, unit counts, systems, utility requirements, zoning, permitted uses, property condition, occupancy potential and rehabilitation costs. Any proposed shared space, reconfiguration or occupancy remains subject to all applicable approvals. Same ownership as MLS 20261060857

Location

State MI

County Wayne

Area Detroit (82001)

Rooms

Basement Block, Finished

Interior

Heating Baseboard, Electric Heat

Cooling Wall/Window A/C

Fireplace No

Exterior

Exterior Feature Brick, Vinyl Siding

Building

Foundation Basement

Water Public Water

Structure Type Brick,Vinyl Siding

Schools

School District Detroit City School District

Others

Ownership Private

Energy Description Electric

Financing Cash

MiRealSource (MI RealSource (Lenawee /Saginaw/SE-Border/Gr Shiawassee/Upper Peninsula)
Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource.
Listed by Elite Urban Realty Professionals

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Shannon Bagdonas
Shannon Bagdonas

Team Lead / Broker Partner

+1(313) 766-8387

movinginmichigan.net

6838 Park Ave, Allen Park, MI 48101-2036, USA

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13242 W Chicago Street