Active

240 Mack Avenue

Detroit, Michigan 48201

$4,100,000 $17,285/Mo

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Overview

Bed

Bath

7,400

Sqft

0.16

Acre(Lot)

Description

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 opera ting 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, 240 Mack Ave offers investors the opportunity to acquire a turnkey multifamily asset in one of Detroit’s most desirable and established rental markets.

Property Details

Property Type : Multifamily

Price : $4,100,000

AD Id : 91675554

MLS Id : 20261080518

Beds : 17

Lot Size : 0.16 Acre

Living Area Size : 7,400 Sq. Ft

Tax Amount : $41,995

Year Built : 1930

County : Wayne

Map

What's Nearby

Nearby Areas

Features

Bathroom Information

Total Baths: 21 Full Baths: 21
Interior Features

Basement Description: Unfinished
Heating & Cooling

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

Building Information

Year Built: 1930 Building Stories: 3 Story Total Units: 21 Foundation/Basement: Basement Architecture: Colonial,Other
Exterior Features

Construction: Brick,Vinyl
Utility Features

Sewer: Sewer (Sewer-Sanitary)
Water

Public (Municipal)

Lot Information

Lot Size: 0.16 Lot Dimensions: 50X140
Property Information

SQ ft: 7400 Subdivision: Brush Sub Of Pt Of Park Lts 17 Thru 21 Financing: Cash,Conventional,Warranty Deed

Listing Price Information

Original List Price: $4,100,000
Listing Information

Possession: Subject To Tenant Rights Legal Description: S MACK 16 BLK 12 BRUSH SUB L8 P12 PLATS, W C R 1/49 50 X 140

Tax Information

Annual Tax: $41,995 Parcel Number: W01I000880S
Possession

Subject To Tenant Rights
Legal Information

Legal Description: Section: S MACK 16 BLK 12 BRUSH SUB L8 P12 PLATS, W C R 1/49 50 X 140

Unit 1 Information

# of Bedrooms: 17

School Information

School District: Detroit
Utility Information

Water: Public (Municipal) Sewer: Sewer (Sewer-Sanitary)

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Disclosure: The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. Any use of search facilities of data on the site, other than by a consumer looking to purchase real estate, is prohibited. IDX provided courtesy of Realcomp II Ltd., via ByOwner.com and REALCOMP, Copyright 2026 Realcomp II Ltd. Shareholders. REALTOR (R) licensed in the state of Michigan. The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed and to participants of any data share partner MLS.

ByOwner last updated this listing 10/06/2026 @ 15:29

MLS: 20261080518 LISTED BY: Ahsan Tarar , Tarar Homes 313-888-0315 SOURCE: Realcomp II Ltd