Richton Apartments | 280 Richton St
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Richton Apartments 280 Richton St
34 Unit Apartment Building $499,995 ($14,706/Unit) Highland Park, MI 48203
Executive Summary
Welcome to Highland Park, MI! Nestled within a vibrant community, this charming apartment building offers a comfortable lifestyle just moments away from local amenities. Conveniently located near major highways and public transportation, commuting is a breeze. Don't miss out on this opportunity to experience urban living at its finest in Highland Park with easy access to Davison Freeway and the John C. Lodge Freeway. Investing in real estate in Highland Park, MI, presents opportunities for investors to benefit from affordability, potential appreciation, steady rental demand, favorable location, and redevelopment prospects. This property has been prepared for restoration. Looking for the right investor to take on a new project. There is a lot of opportunity and potential. Commercial storefronts can be used for business or be converted to add additional residential units. SALE OF THIS PROPERTY ALSO INCLUDES A BONUS VACANT LOT ACROSS THE STREET AT 279 RICHTON ST. This allows for future development opportunities to create additional profits and return on investment. 280 Richton St is a four story vacant brick building that includes 34 residential units as well as 4 commercial units on the ground level for a total of 38 units: Number of 1 Bedroom Units: 30 Number of 2 Bedroom Units: 3 Number of 3 Bedroom Units: 1 Number of Commercial Units: 4 Investing in real estate in Highland Park, MI, can be advantageous for several reasons: -Affordability: Compared to nearby areas, real estate prices in Highland Park may be more affordable, offering opportunities for investors to acquire properties at lower costs. -Potential for appreciation: Highland Park is undergoing revitalization efforts, which could lead to an increase in property values over time as the area develops and improves. -Rental demand: With its proximity to Detroit and various amenities, Highland Park can attract renters seeking affordable housing options. Investors can capitalize on steady rental demand and potentially achieve attractive rental yields.
Property Facts
Site Amenities
- 24 Hour Access
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 34 | - | 500 - 650 |
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PROPERTY TAXES
| Parcel Number | 43-018-01-0040-001 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $133,300 |
PROPERTY TAXES
Parcel Number
43-018-01-0040-001
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$133,300
zoning
| Zoning Code | M-UV (Urban Village Mixed Use Variance) |
| M-UV (Urban Village Mixed Use Variance) |
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Richton Apartments | 280 Richton St
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