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240 Mack Avenue, Detroit, MI 48201

Detroit
Local realty services provided by:CENTURY 21 Metro Brokers
240 Mack Avenue,Detroit, MI 48201
$4,100,000
  • - Beds
  • 21 Baths
  • 7,400 sq. ft.
  • Multi-family
  • Active
Listed by: ahsan tarar
Office: tarar homes
MLS#:20261080518
Source:MI_REALCOMP

Price summary

  • Price:$4,100,000
  • Price per sq. ft.:$554.05

About this home

240 Mack Ave presents a rare opportunity to acquire a fully renovated, 21-unit multifamily asset in the heart of Midtown Detroit, just steps from Wayne State University and surrounded by some of the city’s strongest employment, educational, medical, and entertainment anchors. The property is currently 100% occupied, providing immediate and stabilized cash flow from day one. The unit mix includes 17 one-bedroom apartments and 4 studio units, offering efficient layouts well suited for the strong rental demand in the Midtown market. Offered at $4.1 million, the property delivers an attractive 6.47% in-place capitalization rate. An additional advantage is the existing tax abatement, which has been confirmed to survive the transfer of ownership, helping preserve the property’s favorable operating expenses and overall investment performance. With a fully renovated condition, stabilized occupancy, strong in-place income, and a premier Midtown Detroit location near Wayne State University,...

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Home facts

  • Year built:1930
  • Subdivision & Development:BRUSH SUB OF PT OF PARK LTS 17 THRU 21
  • Listing ID #:20261080518
  • Added:1 day(s) ago
  • Updated:October 06, 2026 at 01:13 AM

Rooms and interior

  • Total bathrooms:21
  • Full bathrooms:21
  • Basement Description:Unfinished
  • Living area:7,400 sq. ft.

Heating and cooling

  • Cooling:Chiller Cooling System
  • Heating:Forced Air, Natural Gas, Separate Meters

Structure and exterior

  • Year built:1930
  • Building area:7,400 sq. ft.
  • Lot area:0.16 Acres
  • Architectural Style:Colonial
  • Construction Materials:Brick, Vinyl Siding
  • Foundation Description:Basement, Block
  • Levels:Three

Utilities

  • Water:Public
  • Sewer:Public Sewer

Finances and disclosures

  • Price:$4,100,000
  • Price per sq. ft.:$554.05
  • Tax amount:$41,995
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