Islandview Apartments

445 Field Street, Detroit, MI 48207

  • For Sale Auction Sale
  • Property Type Multi-Family
  • Property Size 46,969 SF
  • Units 72
  • Lot Size 1 Acre
  • Parking Spaces Avail. 40
  • Parking Ratio 1.80 / 1,000 SF
  • Year Built 1950
  • Date Updated Sep 11, 2023
445 Field StreetRent Restrictions expire in September 2023 allowing new ownership lease up at market rents: current occupancy is 79% and ownership is doing no further lease up until September Property is perfectly positioned to transition to new ownership take advantage of market rate rents- new windows, common areas, created vacancy, and front end value add work are all completed Overall in-place rents at Islandview Apartments average approximately $550 below market, with studio units ±$300 below market, one-bedroom units±$500 below market, and two-bedroom units ±$815 below market Conveniently situated ±3 miles NE of Downtown Detroit, across Jefferson Avenue from Belle Isle ±2.5 miles SW of Stellantis Jefferson Plant, and ±4 miles S of GM Hamtramck Plant Located within a federal opportunity zone across Jefferson Ave to two public parks and the MacArthur Bridge to Belle Isle Just east of the retail corridor along Jefferson Ave, which connects to Downtown Detroit

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Highlights

  • Rent Restrictions expire in September 2023 allowing new ownership lease up at market rents: current occupancy is 79% and ownership is doing no further lease up until September
  • Property is perfectly positioned to transition to new ownership take advantage of market rate rents- new windows, common areas, created vacancy, and front end value add work are all completed
  • Overall in-place rents at Islandview Apartments average approximately $550 below market, with studio units ±$300 below market, one-bedroom units±$500 below market, and two-bedroom units ±$815 below market
  • Conveniently situated ±3 miles NE of Downtown Detroit, across Jefferson Avenue from Belle Isle ±2.5 miles SW of Stellantis Jefferson Plant, and ±4 miles S of GM Hamtramck Plant
  • Located within a federal opportunity zone across Jefferson Ave to two public parks and the MacArthur Bridge to Belle Isle
  • Just east of the retail corridor along Jefferson Ave, which connects to Downtown Detroit

Contacts

broker

Richard Deptula

Friedman Real Estate

(248) 324-2000

Location

Getting Around

  • Walk Score ®

    59/100 Somewhat Walkable

  • Transit Score ®

    50/100 Good Transit

  • Bike Score ®

    79/100 Very Bikeable
Powered by Walk Score ®
  • City Detroit, MI
  • Neighborhood Butzel - Indian Village
  • Zip Code 48207
  • Market Detroit

Points of Interest

  • Bricktown

    2.28 miles

  • Greektown

    2.30 miles

  • Renaissance Center

    2.34 miles

  • Millender Center

    2.42 miles

  • Cadillac Center

    2.50 miles

  • Broadway

    2.55 miles

  • Congress Street

    2.59 miles

  • Campus Martius

    2.59 miles

  • Grand Circus Park

    2.63 miles

  • Montcalm Street

    2.67 miles

  • Mobil

    0.04 miles

  • Sunoco

    0.43 miles

  • Marathon

    0.53 miles

  • Sunoco

    0.60 miles

  • Marathon

    0.96 miles

  • Citgo

    1.25 miles

  • Shell

    1.27 miles

  • Sunoco

    1.32 miles

  • Citgo

    1.35 miles

  • Mobil

    1.53 miles

  • Indycar Pit Parking

    0.82 miles

  • River Place Parking Garage

    1.08 miles

  • Detroit Riverwalk Parking

    1.95 miles

  • Eastern Market parking garage

    1.97 miles

  • River East Garage

    2.04 miles

  • D-2 Lot

    2.08 miles

  • D-4 Lot

    2.08 miles

  • GM Lot

    2.12 miles

  • Hollywood Casino at Greektown Parking

    2.13 miles

  • D-3 Lot

    2.13 miles

  • Baymont by Wyndham Downtown Detroit

    0.84 miles

  • Roberts Riverwalk Hotel

    1.07 miles

  • Comfort Inn

    1.51 miles

  • Metro Lodge

    1.61 miles

  • Rivertown Inn & Suites

    1.94 miles

  • Hollywood Casino at Greektown

    2.18 miles

  • Atheneum Suite Hotel

    2.33 miles

  • Detroit Marriott at the Renaissance Center

    2.37 miles

  • Courtyard by Marriott Detroit Downtown

    2.39 miles

  • Courtyard

    2.39 miles

  • Pekin Chinese Food

    0.17 miles

  • Wendy's

    0.30 miles

  • Belle Isle Pizza

    0.35 miles

  • Subway

    0.42 miles

  • Happy's Pizza

    0.47 miles

  • Little Caesars

    0.52 miles

  • Detroit Vegan Soul

    0.53 miles

  • Metropolitan Kitchen

    0.55 miles

  • Peking Express

    0.66 miles

  • Subway

    0.68 miles

  • Field School

    0.28 miles

  • Martin Luther King High School

    0.72 miles

  • Marcus Garvey Academy

    0.75 miles

  • Monteith School

    0.92 miles

  • Trombly Alternative High School

    0.93 miles

  • Julia Ward Howe Elementary School

    0.94 miles

  • Detroit Academy of Arts and Sciences

    1.01 miles

  • Covenant House Academy East

    1.05 miles

  • Detroit Waldorf School

    1.12 miles

  • Ralph Bunche Elementary School

    1.15 miles

  • Sha-Sha's Kiddy Korner

    1.25 miles

  • Matrix Headstart

    2.52 miles

  • Midtown KinderCare

    2.66 miles

  • Matrix Head Start Infinity II

    2.73 miles

  • Kingdom Care Learning Center

    3.54 miles

  • Henry Ford Kids Child Care Center

    4.64 miles

  • Growing Minds Learning Center

    4.67 miles

  • Vista's Nuevas Headstart Gasper Fiore Center

    4.99 miles

  • New Life Head Start

    5.34 miles

  • Angel Land Child & Parent Center

    5.53 miles

Frequently Asked Questions

What is the total square footage of Islandview Apartments?

Islandview Apartments totals 46,969 square feet.

When was this property built?

Islandview Apartments was built in 1950.

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Contact Listing Broker

broker

Richard Deptula

Friedman Real Estate

(248) 324-2000