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Jim Blehm

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

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525 W Lafayette Boulevard , Detroit, MI 48226
$680,000
Est. Payment: $1,511.11/mo
3 Bed
3 Bath
2209 Sqft
Status: Active | Days on site: 134
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343565 - 368881
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House Description

Exceptional investment opportunity in the Fort Shelby Residences, located in the heart of Detroit’s Central Business District. This offering includes two high-floor condos situated just below the penthouse level. Both units are fully leased through July 2026, providing immediate and reliable cash flow.Residents benefit from the amenities of the Hilton DoubleTree Hotel located below the residences, including lobby reception, coffee shop, restaurant and bar, business and reception center, and fitness room. The residential floors sit above the hotel in the historic Albert Kahn tower, offering additional privacy.These units enjoy extremely low property taxes—less than $3,000 per unit per year—thanks to the NEZ-Rehab tax abatement in place through 2032. The HOA does not restrict long-term leasing; short-term rentals are not permitted.With continued development throughout West Downtown, including the Cambria Hotel, Water Square Apartments at the former Joe Louis site, and the Ralph C. Wilson Jr. Centennial Park, these condos are well-positioned for appreciation. As individual condominium units, they may also be sold separately in the future to maximize resale value.

Highlights

Listed by Jerome Huez , 313-693-3741 Berkshire Hathaway HomeServices The Loft Warehouse , 313-658-6400.

Property Type

Condo/Townhome

HOA Fee

1416 Monthly

Year Built

1927

County

Wayne

School District

Detroit

Listing ID

20261002827

Questions about this listing?

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Interior Features

Bedrooms and Bathrooms
  • Bedrooms:3
  • Bathrooms:3
  • Full Bathrooms:3
Air Cond:Central Air
Fireplaces:
Basement:Slab
Other:
  • Additional:Master on Main
Water:Public

Exterior Features

Sewer:Public
Principal Interest
$1,511
Taxes
$182
HOA
$1,416

Home Price

$680,000

Loan Details

30 yrs
%

Down Payment

20%
$136,000
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:
$1,511.11

Principal

Taxes

HOA

Principal Taxes HOA Total
Monthly $1,511.11 $181.58 $1,416.00 $3,108.69
Yearly $18,133.33 $2,179.00 $16,992.00 $37,304.33
Total $544,000.00 $65,370.00 $509,760.00 $1,119,130.00

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.