Investment Opportunity – Four-Unit Multifamily in Detroit
Priced at just $20,000, this four-unit multifamily property at 10011 Belleterre Street in Detroit presents a strong opportunity for investors, developers, and renovation specialists looking to capitalize on Detroit’s continued revitalization.
Offered through the Detroit Land Bank Authority, the all-brick building provides solid structural fundamentals and significant upside potential for those prepared to complete a full rehabilitation and reposition the asset as a stable income-producing property.
Property Details
The building consists of four one-bedroom apartment units, totaling four bedrooms and five bathrooms, including four full baths and one half bath. This layout is well-suited for maximizing rental efficiency and appealing to single tenants or couples seeking affordable housing options.
Constructed entirely of brick, the property benefits from a durable exterior shell, a valuable feature in Detroit’s multifamily housing market. Brick construction offers long-term structural stability and reduced maintenance costs once properly restored.
Condition and Renovation Scope
The property requires a complete renovation. Buyers should plan for extensive work including mechanical systems, plumbing, electrical, roofing, interior finishes, and full code compliance. The listing advises that the property should be shown with caution due to its current condition.
While the rehabilitation scope is significant, it allows investors full flexibility to modernize the units, improve layouts, and install energy-efficient systems that can substantially increase rental appeal and overall property value.
Location and Market Overview
Located in the 48204 ZIP code, the property sits in an area that has seen ongoing investment and redevelopment interest. Detroit continues to attract attention due to its affordability, improving infrastructure, and proximity to employment centers and major transportation routes.
Well-renovated small multifamily buildings remain in high demand across the city, particularly those serving workforce housing needs. Once completed, this four-unit property has the potential to deliver consistent cash flow while contributing to neighborhood stabilization.
Detroit Land Bank Authority Considerations
As a DLBA-owned property, buyers must account for specific requirements, including the DLBA tax capture provision. This provision allows the Land Bank Authority to receive a portion of property tax revenue for five years following the sale.
Requests to waive tax capture are reviewed individually and may require a payment in lieu of taxes based on the buyer’s development plan. Investors are encouraged to carefully review DLBA guidelines and consult with legal or financial professionals to ensure accurate planning and compliance.
Investment Potential
With a low acquisition cost, this property offers an accessible entry point into Detroit’s multifamily market. While renovation costs will be substantial, the long-term potential lies in rental income, appreciation, and risk diversification across multiple units rather than reliance on a single tenant.
Ideal Buyer
This opportunity is best suited for experienced investors, value-add developers, contractors, or buyers familiar with DLBA processes. First-time investors may also consider the property if supported by strong professional guidance and adequate financing.
Summary
10011 Belleterre Street offers a rare combination of affordability, solid brick construction, and multifamily income potential. For investors prepared to undertake a full rehabilitation and navigate DLBA requirements, this property represents a meaningful opportunity to create long-term value while contributing to Detroit’s ongoing recovery.
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