The Balren | 4847 Baldwin St
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The Balren 4847 Baldwin St
26 Unit Block of Flats £775,410 (£29,823/Unit) 14.15% Net Initial Yield Detroit, MI 48214
EXECUTIVE SUMMARY
Located on Baldwin Street just north of The Villages neighborhood,The Balren apartment building is within close proximity to Downtown Detroit and all major highways.
Built in 1925, the three-story brick building has seen substantial renovations and presents a value-add investment opportunity with potential for more than $300,000 in gross income.
List of improvements permitted and approved by BSEED include in-wall and underground plumbing, mechanical, electrical, new split units installed and new framing completed for 13 of 26 units. There’s a new laundry room with new concrete slab in basement.
The building consists of 26 apartments including:
– 6 studios
– 18 one-bedrooms
– 2 two-bedroom apartments.
Expected monthly rents range from $850 to $1,250 per month. There’s an additional parking lot included directly next to the building.
Built in 1925, the three-story brick building has seen substantial renovations and presents a value-add investment opportunity with potential for more than $300,000 in gross income.
List of improvements permitted and approved by BSEED include in-wall and underground plumbing, mechanical, electrical, new split units installed and new framing completed for 13 of 26 units. There’s a new laundry room with new concrete slab in basement.
The building consists of 26 apartments including:
– 6 studios
– 18 one-bedrooms
– 2 two-bedroom apartments.
Expected monthly rents range from $850 to $1,250 per month. There’s an additional parking lot included directly next to the building.
PROPERTY FACTS
| Price | £775,410 | Building Class | C |
| Price Per Unit | £29,823 | Lot Size | 0.17 AC |
| Sale Type | Investment | Construction Status | Under Renovation |
| Net Initial Yield | 14.15% | Building Size | 15,837 SF |
| Sale Condition | Development Sale | Average Occupancy | 100% |
| No. Units | 26 | Number of Floors | 4 |
| Property Type | Multifamily | Year Built/Renovated | 1925/2025 |
| Property Subtype | Apartment | Parking Ratio | 0.47/1,000 SF |
| Apartment Style | Mid Rise |
| Price | £775,410 |
| Price Per Unit | £29,823 |
| Sale Type | Investment |
| Net Initial Yield | 14.15% |
| Sale Condition | Development Sale |
| No. Units | 26 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Construction Status | Under Renovation |
| Building Size | 15,837 SF |
| Average Occupancy | 100% |
| Number of Floors | 4 |
| Year Built/Renovated | 1925/2025 |
| Parking Ratio | 0.47/1,000 SF |
UNIT AMENITIES
- Cable Ready
- Heating
- Kitchen
- Refrigerator
- Oven
SITE AMENITIES
- Property Manager on Site
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | Avg. Rent.Mo | SF |
|---|---|---|---|
| Studios | 6 | - | 650 |
| 1+1 | 15 | - | 800 |
| 2+1 | 5 | - | 1,000 |
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Bike Score®
Very Bikeable (76)
PROPERTY TAXES
| Parcel Number | 17-011509 | Improvements Assessment | £0 |
| Land Assessment | £0 | Total Assessment | £310,402 |
PROPERTY TAXES
Parcel Number
17-011509
Land Assessment
£0
Improvements Assessment
£0
Total Assessment
£310,402
ZONING
| Zoning Code | Multifamily (Residential commercial Zoning) |
| Multifamily (Residential commercial Zoning) |
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The Balren | 4847 Baldwin St
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