8616 2nd Ave
- Exceptional Redevelopment Opportunity: 8616 Second Ave & 158 Pingree offers significant upside through thoughtful repositioning, allowing investors to transform the structure into a high-performing residential or specialty-use asset aligned with growing demand.
- Multifamily Expansion & Value-Add Potential: The existing layout and building footprint support expansion into larger multifamily units, maximizing rental income potential. A recently installed boiler system provides a strong foundation for efficient building operations, while the fenced and secured parking area adds both convenience and tenant appeal—an increasingly valuable amenity within Detroit. With renovation, the property can be repositioned to attract market-rate tenants seeking proximity to Midtown, New Center, and Downtown.
- Flexible Adaptive Reuse Potential: The property is well-suited for a variety of alternative residential and hospitality uses, including boutique hostel, bed and breakfast, assisted living facility, or senior housing. The scale, layout flexibility, and residential character provide a strong foundation for operators seeking to serve Detroit’s growing population, visiting professionals, and aging demographic.
- Strategically Located in a High-Growth Corridor: Situated just off Woodward Avenue and minutes from Midtown, New Center, and Downtown, the property benefits from proximity to major employment hubs, hospitals, universities, and cultural destinations. Ongoing public and private investment throughout the North End and surrounding neighborhoods continues to drive long-term investment stability.
- Investor and Developer Alignment: Ideal for developers, value-add investors, or specialized operators seeking to create a signature asset in an emerging neighborhood. The combination of location, flexibility, and redevelopment potential positions the property as a compelling opportunity to deliver strong returns.
Property Description
Explore the potential of this exceptional Multifamily/Mid-Rise investment opportunity in Detroit. The property boasts a 9,337 SF building, housing 15 units, and exudes timeless charm with its 1925 construction. Zoned B4, it offers enticing development prospects in an area ripe for growth and rejuvenation. With a prime location in Detroit, this property presents an ideal canvas for a savvy investor to capitalize on the city's resurgence. The well-maintained structure and its prime positioning make this offering a compelling choice for those seeking a lucrative addition to their real estate portfolio.
Key Property Information
| Listing Status: | Unavailable |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $395,000 |
| No. of Units: | 15 |
| Year Built: | 1925 |
| Lot Size: | 0.29 Acres |
| Opportunity Zone: | No |
| Price per unit: | $26,333 |
| Property Website | Click Here |
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