2933 2ND Avenue Detroit, MI 48201

Active

$3,999,999

Market Estimate

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0 Beds
2 Baths
21,718 sq. ft.
Multi-Family
MLS# 60281569

Listing provided courtesy of: Arterra Luxe Collection LLC - 248-733-5893

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Schedule A Showing

Property Details

Description

Ava Pavlina is pleased to present this 25,000 SF, residential zoned re-development opportunity in the heart of Midtown, Detroit! This 4 story, brick building has the potential to become a hostel, apartments, hotel, condos and more! Walking distance to the Masonic Temple, Cass Park, Wayne State University- As well as Downtown Detroit ~ Comerica Park, Ford Field, Little Caesars Arena, Fox Theatre, Motor City Casino, MGM Grand, Detroit Medical Center, Detroit Institute and more! Framed out for 120 bed hostel with potential for a bar/restaurant lounge on the Garden level. Possibility of also holding 52 units as an apartment building. A brand new roof and historically approved windows have already been installed. The city of Detroit has implemented many incentives to encourage and support development in this area of Detroit. This includes tax credits and grants, making it easier and more financially advantageous to bring your vision to life! Needs new electrical and plumbing.

General Features
- Acreage 0.15
- Area Municipality Detroit (82001)
- County Wayne
- Originating MLS RealComp
- Ownership Private
- Subdivision PT OF CASS FARM SUB BY J F MUNRO SUR
- Waterfront Y/N No
- Year Built 1924
Building Features
- Basement Type Walk Out
- Exterior Construction Brick
- Foundation Type Basement
- Heating System Other-See Remarks
Property Features
- Roads Paved Street
- Lot Size 65.00 x 100.00
Schools
- School District Detroit City School District

Contact

Ryan Eashoo

Owner, Multi-Million Dollar Producer

RE/MAX EDGE

Team Phone: 810-234-1234

Neighborhood

48201 (Detroit) Demographics

31 Median Age

7,999 Population Density (per sq. mile)

43% College Educated

$20,050 Estimated Median Income

857 Estimated Total Home Owners

7,862 Estimated Total Renters

10% / 90% Estimated Owner / Renter Divide

2 Estimated Average Household Size

16,040 Total Population

Community data courtesy of LiveBy, Inc.

Market Last 30 Days In This Postal Code

$360,000 Median Sales Price

6 Homes Sold

20 New On Market

Average Days on Site

Properties for Sale

Calculations provided by Reliance Network

Property History

Date	Event	Price	Percent Change
--	Current Price Source: Multiple Listing Service	New Value: $3,999,999
3/21/2024 4:36:48 PM	Price Reduced Source: Multiple Listing Service	New Value: $3,999,999	-16.67%
3/13/2024 7:36:29 PM	Price Reduced Source: Multiple Listing Service	New Value: $4,799,999	-4%
2/8/2024 12:20:46 PM	Price Reduced Source: Multiple Listing Service	New Value: $4,999,999	-5.66%
1/9/2024 11:52:00 AM	New in Database Source: Multiple Listing Service	New Value: $5,299,999

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* This payment calculator is intended for educational and planning purposes only.
** Assumes 6.5% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information.

Information is provided in part by the IDX program of the Great Lakes Repository. All information provided is deemed reliable but is not guaranteed and should be independently verified.

Note: All room dimensions, including square footage data, are approximate and must be verified by the buyer. The information contained herein is furnished by the owner to the best of his/her knowledge but is subject to verification by the purchaser, and agent assumes no responsibility for the correctness thereof. The sale offering is made subject to errors, omissions, change of price, prior sale, or withdrawal without notice. In accordance with the Law, this property is offered without respect to race, color, creed, national origin, sex, familial status or disability. This is not intended to solicit property currently listed.