1415 Glynn Court

Property Details

Detroit, Michigan

$2,825,000

Description

Other - Detroit, Michigan

51 Units | 10.27% Projected Cap

O’Connor Real Estate is pleased to offer the Glynn Court Apartments. 1415 Glynn Court is a 51 unit Spanish Revival style mid rise apartment building, located in Boston Edison. The Boston Edison Historic District is an instantly recognizable address in the heart of Detroit, containing over 900 homes. Most homes were constructed between 1905 and 1925 and range in size from modest two story vernaculars to impressive mansions. Early residents of Boston-Edison included Henry Ford, James Couzens, Horace Rackham, Sebastian Kresge, and Joe Louis.

1415 Glynn Court is a 4 story multi-family building made up of 51 units and contains a well-balanced unit mix of (9) Studio units, (33) 1 Bedroom units, and (9) 2 Bedroom units. The units have maintained many historic details such as original hardwood floors, archways connecting rooms, and original bathrooms that are in line with Detroit’s design-driven rental market. This value add opportunity is being offered in a transition stage and current rents do not reflect the potential performance of a redevelopment. Excellent opportunity to upgrade to market tenants and lower operating expenses.

Building Features

Ready for Redevelopment
Possibility of Condo Exit Strategy
$49 Price /SF
28,314 SF Total Land Area