tomo logo

$900,000

Beds
4
Baths
2.0
sq ft
6,173

1798 Wabash St, Detroit, MI 48216

1798 Wabash St

Detroit, MI 48216

  • 141 days on market
    • Price drop $500,000↓
Corktown's Hottest Property! Discover the unparalleled potential of 1798 Wabash, an extraordinary property strategically positioned in Detroit's dynamic Corktown district. Located steps away from the newly revitalized Michigan Central Station, recently renovated by Ford Motor Company, this property presents a once-in-a-lifetime chance to secure a prime piece of real estate at an incredible value. Highlights: Currently a non-conforming commercial use with it being zoned R2 under Detroit's Master Plan. This allows for single family or condo development. Expansive Space: Boasting over 6000 sqft of space, currently divided into 4 units, each equipped with 220-volt electricity. Potential for Growth: Expand to 6 units and explore the option to add a second floor, maximizing income potential and versatility. Historic Charm: Situated in the heart of Corktown, adjacent to the historic Michigan Central Station, a symbol of Detroit's rich heritage and promising future. Surrounded by Amenities: Enjoy proximity to trendy cafes, boutique shops, and upscale dining, enhancing the property's appeal to residents and businesses alike. Why Invest: This property offers an exceptional opportunity for savvy investors, developers, and entrepreneurs looking to capitalize on Detroit's rapid revitalization. Whether you envision creating luxury condos, establishing a thriving commercial hub, or both, 1798 Wabash provides the canvas for your ambitious endeavors. Act Now: Submit your best offer today and take advantage of this rare chance to own a piece of Detroit's future. Contact us now to schedule a viewing and explore the endless possibilities awaiting you at 1798 Wabash. Don't delay - this opportunity won't last long! BATVAI

Details

Property type

Single Family Residence

Est. home value

$588,745

Lot size

6,534 sq ft

Price per sq ft

$146

Year built

1948

Annual property taxes

$2,761

Price History

11/01/2024
Realcomp

Realcomp #20240046886

Price change
$900,000
-35.71%
07/16/2024
Realcomp

Realcomp #20240046886

Price change
$1,400,000
+139999900%
07/01/2024
Realcomp

Realcomp #20240046886

Listed
$1

Schools & Community

Neighborhood: 

Millenium Village

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

School district: 

Detroit

Seller’s Loan History

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Lender

Westcork Group Llc

Loan start date

September 2019

Original loan amount

$400,000

Est. remaining balance

Not provided

Interest rate

3.75%

Loan type

Future Advance Clause / Open End Mortgage

Seller

Cass Group Llc

Lender

Westcork Group Llc

Loan start date

September 2019

Original loan amount

$400,000

Est. remaining balance

Not provided

Interest rate

3.75%

Loan type

Future Advance Clause / Open End Mortgage

Seller

Cass Group Llc

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

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Status: Active

Tomo last checked: 11/19/2024 at 8:45 PM

Listing updated: 11/01/2024 at 1:33 PM

Listed by: Jeffrey Rutledge, Downtown Realty Phone #: (313) 466-7253

MLS: Realcomp #20240046886

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