240 Mack Avenue, Detroit, Michigan 48201
$4,100,000
Property Details
- MLS#: 20261080518
- Bedrooms: N/A
- Bathrooms: 21
- Square Feet: 7,400
- Price per Sqft: $554
- Lot Size: N/A
- Year Built: 1930
- Property Type: ResidentialIncome
- Transaction: For Sale
- Listing Status: Active
Tax and Assessment Information
Tax and assessment information is unavailable.
Description
240 Mack Ave presents a rare opportunity to acquire a fully renovated, 21-unit multifamily asset in the heart of Midtown Detroit, just steps from Wayne State University and surrounded by some of the city’s strongest employment, educational, medical, and entertainment anchors. The property is currently 100% occupied, providing immediate and stabilized cash flow from day one. The unit mix includes 17 one-bedroom apartments and 4 studio units, offering efficient layouts well suited for the strong rental demand in the Midtown market. Offered at $4.1 million, the property delivers an attractive 6.47% in-place capitalization rate. An additional advantage is the existing tax abatement, which has been confirmed to survive the transfer of ownership, helping preserve the property’s favorable operating expenses and overall investment performance. With a fully renovated condition, stabilized occupancy, strong in-place income, and a premier Midtown Detroit location near Wayne State University, 240 Mack Ave offers investors the opportunity to acquire a turnkey multifamily asset in one of Detroit’s most desirable and established rental markets.
Location
This property is located in Detroit, Michigan. Detroit is part of the Metro Detroit area, offering convenient access to employment, schools, shopping, and recreation.
Frequently Asked Questions
What is the price of 240 Mack Avenue?
240 Mack Avenue is listed at $4,100,000, or $554 per square foot.
How many bedrooms does 240 Mack Avenue have?
This property has N/A bedrooms and 21 bathrooms, with 7,400 square feet of living space.
Ask about this property
Contact Sonic Realty to verify current availability or ask about this listing. A showing is only arranged after the listing team confirms it.
Phone: (313) 484-4696
Email: info@sonicrealty.com
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