4020 Lafayette Blvd Detroit, MI 48209

This exceptional 55,934 square foot multifamily property, located at 4020 W Lafayette Blvd in Detroit, MI, presents a compelling investment opportunity. Currently operating as a 250-unit hotel with shared bathrooms, the property boasts significant redevelopment potential. Its conversion to a 70-80 unit apartment building (studios, one- and two-bedroom units) is feasible, subject to development plans. Originally built in the 1920s as a workforce rooming house, the building features traditional architecture, brick and masonry construction, and sits on a 0.49-acre lot (191' x 95'). The R-5 residential zoning allows for a variety of uses. The property includes 60 dedicated parking spaces on an adjacent lot. Situated in Southwest Detroit, a vibrant and rapidly growing area experiencing significant investment and job growth, this property offers substantial upside potential. The legal description is: W HUBBARD E 195 FT OF S 25 FT 53 E 195 FT OF N 65.55 FT 54 DANIEL & WALTER SCOTTENS SUB L1 P195 PLATS, W C R 14/114 90.55 X 195. The asking price is $2,950,000. This is a rare chance to capitalize on Detroit's resurgence and create a high-return investment. The property's location within a thriving community, coupled with its substantial size and flexible zoning, makes it an ideal candidate for adaptive reuse. The current market conditions in Detroit, characterized by substantial investment and job creation, further enhance the property's long-term value.