2690 W Boston Blvd - Apartments FOR SALE


Detroit, MI 48206
$4,200,000 USD
734-812-8284
2690 W Boston Blvd, Detroit, MI for Sale
$4,200,000 USD
Apartments - FOR SALE
1/19
null | 8.04% Cap Rate

2690 W Boston Blvd
Detroit, MI 48206


HIGHLIGHTS

  • Gated Parking
  • On-Site Office
  • Section 8 Approved Units
  • Extensive List of Capital Expenditures Including Roof, Boiler, Elevator
  • Green Light Program

OVERVIEW

Global Real Estate Advisors are pleased to present the exclusive offering of Majestic Apartments in Detroit, MI. This four-story building was originally constructed in 1929. Majestic consists of 82 apartments units featuring 46 studio units, 34 one-bedroom units and 2 two-bedroom unit. The property features tenant paid electricity, with the landlord paying for gas, water & sewer. The Majestic is close to plenty of restaurants, grocery stores, childcare and other businesses in Detroit. The property has undergone a tremendous amount of work over the last 3 years including a new EPDM Roof, New Elevator, New boiler and hot water system, exterior tuck pointing and waterproofing, lobby renovation, common area renovations, unit renovations, electric main service panel and sub panels, LED lighting and a new state of the art electric sliding gate in a recently paved asphalt parking lot.

FOR SALE DETAILS

PRICE

$4,200,000 USD

PRICE/SF

$91 USD /SF

# OF UNITS

82

PRICE/UNIT

$51,220

CAP RATE

8.04%

% LEASED

75%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Majestic Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1929

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.42 AC

LAND SF

18,295 SF

ZONING

R6

APN/PARCEL ID

10-002798

ASK ABOUT THIS PROPERTY

Nick KirbyGREAMore Info
734-812-8284

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Nick KirbyGREAMore Info
734-812-8284

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.