240 Mack Avenue
Detroit, MI 48201 2418
$4,100,000
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 operating 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.
| Mls #: | 61036146 |
|---|---|
| Asking Price: | $4,100,000 |
| Property Type: | Multi Family |
| Type: | Multi-Family |
| Property Status: | Active |
| Bank Owned: | No |
| Baths Full: | 21 |
| Lavatory: | 0 |
| Square Feet: | 7,400 |
| # Of Acres: | 0.16 |
| Styles: | Colonial |
| Waterfront Y/N: | No |
| Town: | Detroit |
| County: | Wayne |
| Subdivision: | Brush Sub Of Pt Of Park Lts 17 Thru 21 |
| ZIP: | 48201 2418 |
| Year Built: | 1930 |
| Total Units: | 21 |
| Area: | Detroit (82001) |
| Sale/Rent: | For Sale |
| Fireplace Y/N: | No |
| School District: | Detroit City School District |
| Signed Disclosure Y/N: | Yes |
| Lease Y/N: | Yes |
| Contract: | Exclusive Right to Sell |
| Cross Street 1: | Between John R and Brush |
| Lot Size: | 50X140 |
| Separate Heat Y/N: | Yes |
| Unit 1 Rent Rate: | $1,350 |
| Unit 2 Rent Rate: | $1,500 |
| Baths/Lavs Total: | 21 |
| Summer Tax Amount: | 18958 |
| Winter Tax Amount: | 23037 |
| Total Tax Amount: | $41,995 |
| Subj To Short Sale Apprvl: | No |
| Ownership: | Corporation |
| Full Service Listing Y/N: | Yes |
| Municipality: | Detroit |
| Source Mls: | MiRealSource |
| Originating Mls: | RealComp |
| Directions: | Turn into street from John R or Brush St |
| Basement Type: | Block |
| Exterior Construction: | Brick, Vinyl Siding |
| Foundation Type: | Basement |
| Fuel Type: | Natural Gas |
| Heating System: | Forced Air |
| Financial Terms: | Cash, Conventional |
| Roads: | Paved Street |
| Water: | Public Water |
| Zoning: | Multi-Family |
| Possession: | Subject To Tenant Rights |
Listing Courtesy of: Tarar Homes
Listing Agent: Ahsan Tarar
313-888-0315
31912 Mound Road Ste 102 Warren, MI 48092
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Copyright 2015 MiRealSource. All rights reserved. This information provided hereby constitutes proprietary information of MiRealSource, Inc. and its shareholders, affiliates and licenses and may not be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording, scanning or any information storage and retrieval system, without written permission from MiRealSource, Inc.
Provided through IDX via MiRealSource, as the "Source MLS", courtesy of the Originating MLS shown on the property listing, as the Originating MLS.
The information published and disseminated by the Originating MLS is communicated verbatim, without change by the
Originating MLS as filed with it by its members. The accuracy of all information, regardless of source, is not
guaranteed or warranted. All information should be independently verified.
Copyright 2026 MiRealSource. All rights reserved. The information provided hereby constitutes proprietary
information of MiRealSource, Inc. and its shareholders, affiliates and licenses and may not be reproduced or
transmitted in any form or by any means, electronic, or mechanical, including photocopy, recording, scanning or any
information storage and retrieval system, without written permission from MiRealSource, Inc.
MiRealSource data last updated on November 02, 2026 07:21 PM - ET.
Property Last Updated: November 02, 2026 07:21 PM - ET
