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Jim Blehm

Team Owner, Realtor® | The Blehm Group | Keller Williams

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3931 McGraw St , Detroit, MI 48208
$550,000
Est. Payment: $1,222.22/mo
0 Bed
27 Bath
0 Sqft
Status: Active | Days on site: 42
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House Description

McGraw/Boulevard Lawn ApartmentsStrategically positioned at McGraw Street and West Grand Boulevard, this four-section, interconnected multifamily complex offers exceptional redevelopment potential within an increasingly connected area of Detroit. The property sits between several of the city’s most significant investment districts, including Henry Ford Health’s $3 billion Future of Health initiative, Ford’s Michigan Central innovation district, and the advancing $62 million Junction McGraw industrial development. Access to I-94 and I-96 connects the site to Downtown, Midtown, Dearborn, major employment centers, Detroit’s stadium and entertainment district—including Ford Field, Comerica Park, and Little Caesars Arena—and the Ambassador and Gordie Howe international bridges to Canada.The apartments offer varied configurations serving a broad range of household needs. A unit mix weighted toward three-bedroom apartments can accommodate families seeking larger rental housing. Generously sized two-bedroom units provide flexibility for residents who work from home or need office, study, or multipurpose space. One-bedroom apartments further broaden the tenant base and allow the development to serve multiple household sizes and price points.This substantial redevelopment opportunity is ideally suited to a seasoned, well-capitalized developer with the experience and resources to execute a comprehensive, multi-phase rehabilitation. The project requires a sponsor capable of navigating structural rehabilitation, municipal approvals, construction financing, phased construction, and lease-up. For the right team, it presents an exceptional opportunity to reposition a distinctive 27-unit residential asset, create quality housing for Detroit’s missing-middle workforce, support broader workforce-development goals, and pursue nearby infill opportunities.Buyer to independently verify all building measurements.

Highlights

Listed by Antoine Hayes , 313-915-8780 Elite Urban Realty Professionals , 248-419-1004.

Property Type

Multi-Family

Lot/Acreage
0.38

HOA Fee

Year Built

1920

County

Wayne

School District

Detroit

Listing ID

20261060857

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Interior Features

Bedrooms and Bathrooms
  • Bedrooms:0
  • Bathrooms:27
  • Full Bathrooms:
Water:Public

Exterior Features

Principal Interest
$1,222
Taxes
$1,413
HOA
$0

Home Price

$550,000

Loan Details

30 yrs
%

Down Payment

20%
$110,000
All calculations are estimates and provided by Blueroof360. Today’s Rates provided by Blueroof360. Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Monthly Price:
$1,222.22

Principal

Taxes

Principal Taxes HOA Total
Monthly $1,222.22 $1,412.92 $0.00 $2,635.14
Yearly $14,666.67 $16,955.00 $0.00 $31,621.67
Total $440,000.00 $508,650.00 $0.00 $948,650.00

Today's Rates

30 Year

0%

20 Year

0%

15 Year

0%

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Market insight data is pulled from the same city as the listing being viewed (Detroit, MI).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.