13535 La Salle Boulevard

About this home

Value-add apartment opportunity in Detroit with the hard work already underway. This 19-unit, three-story brick building offers about 11,075 square feet on 0.19 acre and is offered at 499,000, roughly 26,300 per unit and about 45 per square foot. Built in 1929, it has the solid construction and unit count investors look for at an entry price that leaves room to build equity. Location is a major strength. The property sits close to the Davison Freeway, I-96 and I-75, giving tenants fast routes to Downtown, Midtown and the rest of the metro area, which supports steady rental demand. Updates are already done where it counts. More than half of the units are renovated and rent-ready, with luxury vinyl plank flooring and refreshed kitchens and baths. Additional improvements include a new boiler installed in 2023, a rubber roof, brand-new fencing around the attached parking lot and an on-site coin laundry room for added income. The unit mix is 14 one-bedrooms, one two-bedroom and four studios. The potential is clear. Only one unit is currently occupied, so a new owner can lease up the renovated units at market rents right away, then complete cosmetic updates on the remaining units to raise occupancy and grow net income. At an assumed average rent of 900 per month, gross potential income is about 205,200 per year, a gross rent multiplier near 2.4 at list price. All financial figures are projections based on a pro forma stabilized analysis assuming full occupancy and are not current income. Buyer and buyer’s agent to verify all information, including unit count, zoning, square footage, rents and taxes.

Interior

Systems and utilities

Exterior and lot

Taxes, HOA and more

Schools

How it compares in Detroit

Over the last 90 days, 1,214 homes sold in Detroit for a median of $99,950, about $71 per square foot, and the typical one went under contract in 29 days. This home is listed at $499,000, or $37 per square foot, 48% below the city median, and has been on the market 0 days. Size, condition, updates and the exact street all move the number, so treat this as context. See recent Detroit sales or ask us for the comparable sales on this one.

Property taxes for a new owner

The current owner pays about $35,746 a year. A buyer who lives here would pay about $25,159 a year once the taxable value resets after the sale, at the 2025 homestead rate of 64.18 mills for Detroit City and Detroit schools, plus the 1% administration fee. Michigan resets a home's taxable value the year after it sells, so the seller's bill isn't a good number to budget with. See the math.

Monthly payment estimate

Estimate only, 30 year fixed, includes taxes at a new owner's rate when listed. Ask us for a lender quote.

Location

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