1606 Gladstone StDetroit, MI 48206

Property Details for 1606 Gladstone St

Year built

1916

Lot size

0.14 AC

Property size (Sq ft)

3,514 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This vacant, four-unit apartment building at 1606 Gladstone St, Detroit, MI 48206, presents a compelling redevelopment opportunity. The 3,514 square foot property, situated on a 0.14-acre lot (APN 08002478), is a two-story, Class C building constructed in 1916 and renovated in 2021. Significant structural and framing work has already been completed, including a new roof and newer windows and doors. The building is currently vacant and requires the completion of plumbing and electrical systems, along with all interior finishes. Quotes from licensed contractors for these systems are readily available. Each unit features two bedrooms and one bathroom with in-unit laundry. The property is securely fenced and located just five minutes from Midtown, surrounded by occupied multifamily buildings. A comparable property recently sold for $380,000, highlighting the potential return on investment. This is a for-sale-by-owner property, zoned for multifamily use, offering a blank slate for a savvy investor to create significant value. The asking price is $250,000.

Location Insight

City

Detroit

County

Wayne

State

Michigan

Latitude

42.3751

Longitude

-83.0952

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