OfferMarket

505 Owen St, Detroit, MI 48202, USA

$62,500

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APPROVED FOR FUNDING FROM OFFERMARKET CAPITAL - GET INSTANT LOAN QUOTE AND PRE APPROVAL

šŸ“šˆš§šÆšžš¬š­š¦šžš§š­ šŽš©š©šØš«š­š®š§š¢š­š² ā€“ šŸ“šŸŽšŸ“ šŽš°šžš§ š’š­š«šžšžš­, šƒšžš­š«šØš¢š­, šŒšˆ šŸ’šŸ–šŸšŸŽšŸ
šŸ’4-Unit Multifamily ā€“ 2-Story, Near Midtown & Wayne State ā€“ Big Upside
ā¤ļøAsking Price: $70,000
šŸ¦ā€šŸ”„Estimated Rehab: $125,000
šŸ”“ARV: $294,000
šŸš©EMD Required: $5,000


Property Details:
ā€¢ Approx. 2,300 sq ft structure
ā€¢ 4 Total Units (includes former doctor's office on main floor)
ā€¢ Multifamily ā€“ 2 Stories
ā€¢ Lot with redevelopment potential
ā€¢ Located in a rapidly appreciating neighborhood


šŸ§ØSuggested Strategy: Flip | BRRRR | Redevelopment
šŸš©Vacant | Value-Add | Surrounded by Active Rehabs


Key Highlights:
ā€¢ Minutes from Midtown & Wayne State University
ā€¢ Heavy redevelopment in the area
ā€¢ Ideal for multifamily rental or flip
ā€¢ Former medical office conversion potential
ā€¢ Strong value growth and high rental demand


šŸŖ½Comps Supporting ARV:
ā€¢ 542 Holbrook St ā€“ Sold for $255,000 (01/02/25)
ā€¢ 555 Hague St ā€“ Sold for $279,000 (04/01/25)
ā€¢ 639 Belmont St ā€“ Sold for $350,000 (10/17/24)


šŸ“ŽMore info, photos, and access details available upon request
šŸ“žCall/Text Audrey: (754) 757-2304

Resources:

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