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21 Baths
7,400 sqft

$4,100,000

240 Mack Avenue, Detroit MI, 48201 2418

Price per sqft$554.05
Built in1930
Property size7,400 sqft
Property typeResidential

Overview

Active

Listed Oct 5, 2026

Updated 5 days ago

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.

$27,277/mo

Est. mortgage payment based on a $4,100,000 home price.

All estimates are provided by Luxury Presence for informational purposes only. Actual amounts may vary.

Additional information

MLS® ID
61036146

Interior Features

Bathrooms
21
Heating
Yes
Basement
Yes

Exterior Features

Lot Size
0.16 Acres

Other Property Details

Taxes
$41,995
Tax Frequency
Annually

Also listed on REALCOMP

MLS provider logo

Listed by Ahsan Tarar with Tarar Homes
Listing Contact: 313-888-0315 

Based on information originating from the MiRealSource as of 10/12/2026. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

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Data last updated on 10/12/2026 at 10:51 PM UTC

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