MI > Wayne > Detroit > 3931-51 Mcgraw Street
  • 27 Units
  • 24,255 SqFt
  • MLS# 20240020791
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248-304-6700

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248-208-3883

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AMAZING REDEVELOPMENT OPPORTUNITY ON THIS 27 UNIT BUILDING IN THE GRAND BLVD/ MCGRAW CORRIDOR. WEST OF WAYNE STATE, WOODBRIDGE, NW GOLDBERG AND SOUTH OF CORKTOWN. MANY DEVELOPMENTS PLANNED IN THE AREA. THE BUILDING NEEDS A FULL REHAB. GREAT UNIT MIX AND GENEROUS APARTMENTS SIZES. ADDITIONAL SPACE IN THE LOWER LEVEL TO ADD UNITS. SELLER HAS PLANS FOR AN ADDITIONAL NEW 38 UNIT BUILDING AND SEVERAL TRI PLEXES NEXT DOOR. Expenses estimated at 6% mgmt fee = $19,872. Taxes $20,000. Insurance $15,000. Rehab estimated at $1 Million. Total $1,675 Million (16.7 Cap)

Property Information

Status
Active 
Address
3931-51 Mcgraw Street 
City
Detroit 
Zip
48208 
Year Built
1920 
Style
Common Entry Building 
Possession
At Close 
Architecture
3 Story 
Listing Date
04/01/2024 
Subdivision
Bela Hubbards Sub L5 P46 Plats 
County
Wayne 
Above Grade SqFt
24,255 
Total No of Units
27 

School Information

School District
Detroit 

Taxes

Summer Taxes
$6,489 
Winter Taxes
$782 

Rooms and Land

Lot Dimensions
160.00X103.00 
Total Acres
0.38 

Features

Style
Common Entry Building 
Basement
Common, Unfinished 
Heating
Baseboard, Natural Gas 

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  • Market Statistics
  • Property History
  • Schools Information
  • Local Business
Market Statistics
Property History
MLS Number New Status Previous Status Activity Date New List Price Previous List Price Sold Price DOM
20240020791 Active Apr 2 2024 5:40PM $650,000 31
2210071033 Expired Active Jan 31 2024 2:15AM 888
2210071033 Nov 21 2023 4:37PM $650,000 $675,000 888
2210071033 Oct 22 2021 5:21PM $675,000 $695,000 888
2210071033 Active Aug 25 2021 8:47PM $695,000 888
School Information
Local Business

Learn More About This Listing

Contact Customer Care

Mon-Fri 9am-9pm Sat/Sun 9am-7pm

248-304-6700

Contact Customer Care

Mon-Fri 9am-9pm Sat/Sun 9am-7pm

248-208-3883

By proceeding, you consent to receive calls and texts at the number you provided, including marketing by voice, and email, from us and others about your inquiry and other home-related matters, but not as a condition of any purchase. You also agree to our Privacy Policy regarding the information relating to you. Msg/data rates may apply.

Listing Broker

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Listing Courtesy of Re/Max Connection
(248) 505-2509
Office Address 6001 Cass Avenue

3931-51 Mcgraw Street Detroit
Contact us
$650,000
For Sale • No. of Units: 27