$690,000 for Sale
525 w lafayette boulevard, detroit, MI 48226
| Beds 3 | Baths 3 | 2,209 Sqft |
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1 of 22 |
Property Description
Exceptional investment opportunity in the Fort Shelby Residences, located in the heart of Detroit's Central Business District. This offering includes two high-floor condos situated just below the penthouse level. Both units are fully leased through July 2026, providing immediate and reliable cash flow. Residents benefit from the amenities of the Hilton DoubleTree Hotel located below the residences, including lobby reception, coffee shop, restaurant and bar, business and reception center, and fitness room. The residential floors sit above the hotel in the historic Albert Kahn tower, offering additional privacy. These units enjoy extremely low property taxes - less than $3,000 per unit per year - thanks to the NEZ-Rehab tax abatement in place through 2032. The HOA does not restrict long-term leasing; short-term rentals are not permitted. With continued development throughout West Downtown, including the Cambria Hotel, Water Square Apartments at the former Joe Louis site, and the Ralph C. Wilson Jr. Centennial Park, these condos are well-positioned for appreciation. As individual condominium units, they may also be sold separately in the future to maximize resale value.
General Information
Sale Price: $690,000
Price/SqFt: $312
Status: Active
MLS#: rcomi60963662
City: detroit
Post Office: detroit
Schools: detroit city school district
County: Wayne
Subdivision: fort shelby hotel condo
Bedrooms:3
Bathrooms:3 (3 full, 0 half)
House Size: 2,209 sq.ft.
Acreage:
Year Built: 1927
Property Type: Condominium
Style:
Features & Room Sizes
Bedroom 1: 11x15
Bedroom 2 : 15x12
Bedroom 3: 13x10
Bedroom 4:
Family Room:
Greatroom:
Dinning Room:
Kitchen:
Livingroom:
Pole Buildings:
Paved Road: Paved Street
Garage: No Garage
Exterior: Brick,Stone
Basement: No
Foundation : Slab
Cooling: Central A/C,Heat Pump(s)
Heating: Heat Pump(s)
Watersource: Public Water
Tax, Fees & Legal
Est. Summer Taxes: $1,679
Est. Winter Taxes: $500
HOA fees: 1416
HOA fees Period: Monthly
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Listing By: Jerome Huez of Berkshire Hathaway HomeServices The Loft Warehouse, Phone: 313-658-6400
