The Balren Apartments

4847 Baldwin Street, Detroit, MI 48214

  • For Sale $1,500,000
  • Property Type Multi-Family
  • Property Size 5,837 SF
  • Units 26
  • Lot Size 0.17 Acre
  • Year Built 1925
  • Year Renovated 2024
  • Date Updated Apr 23, 2024
4847 Baldwin StreetIn the Greater Island View neighborhood, this apartment building enjoys a central location, offering 5-minute access to Downtown, Midtown, and Detroit's new Waterfront. Surrounded by vast amounts of public transportation, this property is ideal for renters seeking convenience and connectivity. Recent completion of several brand-new Multi-Million Dollar developments, (a $10M 26-unit, a $23M 90-unit, plus more) in the Island View neighborhood, as part of Detroit's Neighborhood Initiative, signifies the city's commitment to growth in the immediate area. Remaining construction is an estimated $1.3M to complete - General Contracting and Management also available upon request. Once complete, this unique opportunity to own a fully renovated apartment building with parking at a 10% cap rate in the heart of Detroit's fast-paced resurgence, makes this an EXCELLENT OPPORTUNITY for increased Cashflow and Exponential Growth in Equity.

Want more info on this listing?

Reach out to the broker for more info on lease terms and amenities

Attachments

Highlights

  • Full Renovation in Progress!!
  • $1,500,000 ($57,692/unit)
  • 10.1% Proforma Cap Rate
  • 26 Units - Studios, 1bdrms, 2bdrms
  • HVAC and Electric individually metered
  • Additional parcels for parking, greenspace, etc.
  • Built in 1925, On-going renovation 2024

Contacts

broker

Bruce A. Morrison

Friedman Real Estate

(586) 243-4260

Location

Getting Around

  • Walk Score ®

    65/100 Somewhat Walkable

  • Transit Score ®

    53/100 Good Transit

  • Bike Score ®

    76/100 Very Bikeable
Powered by Walk Score ®
  • City Detroit, MI
  • Neighborhood Kettering
  • Zip Code 48214
  • Market Detroit

Points of Interest

  • Warren Avenue

    2.80 miles

  • Canfield Street

    2.82 miles

  • Ferry Street

    2.82 miles

  • Mack Avenue

    2.90 miles

  • Amsterdam Street

    2.91 miles

  • Martin Luther King Junior Boulevard

    2.92 miles

  • Baltimore Street

    2.96 miles

  • Detroit

    2.97 miles

  • Grand Boulevard

    3.00 miles

  • Sproat Street

    3.04 miles

  • Citgo

    0.16 miles

  • Sunoco

    0.31 miles

  • Marathon

    0.44 miles

  • Citgo

    0.64 miles

  • Sunoco

    0.70 miles

  • Citgo

    0.87 miles

  • BP

    0.88 miles

  • Mobil

    0.94 miles

  • Mobil

    0.95 miles

  • Sunoco

    1.05 miles

  • WCCC Eastern Campus Lot

    1.85 miles

  • FCA Employee Parking

    2.18 miles

  • Eastern Market parking garage

    2.26 miles

  • Eastern Market Lot #8

    2.30 miles

  • Kirby Center Lofts Lot

    2.39 miles

  • Kresge Parking Deck

    2.44 miles

  • WSU Parking Structure 4

    2.44 miles

  • FCA Employee Parking

    2.47 miles

  • WSU Lot 75

    2.47 miles

  • River Place Parking Garage

    2.54 miles

  • Metro Lodge

    2.04 miles

  • Veteran's Park Hotel

    2.17 miles

  • Baymont by Wyndham Downtown Detroit

    2.34 miles

  • Cabana Motel

    2.48 miles

  • Roberts Riverwalk Hotel

    2.66 miles

  • Comfort Inn

    2.69 miles

  • The Inn on Ferry Street

    2.74 miles

  • The Winder Street Inn

    2.91 miles

  • The Cochrane House

    2.92 miles

  • Hamtramck Hotel & Hostel

    2.96 miles

  • Wendy's

    0.23 miles

  • Grandy's Coney Island

    1.00 miles

  • Poohs Perfect Potato

    1.02 miles

  • Captain Jay's Fish & Chicken

    1.31 miles

  • Slyde

    1.39 miles

  • Marrow

    1.40 miles

  • Frenchies

    1.40 miles

  • Mumma Maria’s House

    1.41 miles

  • Detroit Vegan Soul

    1.64 miles

  • Metropolitan Kitchen

    1.65 miles

  • Salem School

    0.37 miles

  • Hillger School

    0.42 miles

  • Cesar Chavez Academy East Campus

    0.51 miles

  • Garvey Academy

    0.53 miles

  • Benjamin E Mays Male Academy

    0.84 miles

  • Covenant House Academy East

    0.92 miles

  • Chandler Elementary School

    0.94 miles

  • Nichols Elementary-Middle School

    1.03 miles

  • DPS Harris Building

    1.04 miles

  • Catherine C. Blackwell Institute

    1.09 miles

  • Sha-Sha's Kiddy Korner

    0.76 miles

  • Matrix Head Start Infinity II

    0.93 miles

  • Matrix Headstart

    2.04 miles

  • Kingdom Care Learning Center

    2.65 miles

  • Midtown KinderCare

    2.68 miles

  • Henry Ford Kids Child Care Center

    3.64 miles

  • Fleming Early Learning Neighborhood Center

    3.93 miles

  • The Clifton Daycare and Development Center

    4.21 miles

  • New Life Head Start

    4.22 miles

  • Growing Minds Learning Center

    4.43 miles

Frequently Asked Questions

What is the lease rate for The Balren Apartments?

Rental asking rate at The Balren Apartments is $750,000.00/YR.

What is the total square footage of The Balren Apartments?

The Balren Apartments totals 5,837 square feet.

When was this property built?

The Balren Apartments was built in 1925.

Looking for more in-depth information on this property?

Looking for more in-depth information on this property? Find property characteristics, ownership, tenant details, local market insights and more. Unlock data on CommercialEdge.

Contact Listing Broker

broker

Bruce A. Morrison

Friedman Real Estate

(586) 243-4260