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4535 Commonwealth St 8 Unit Apartment Building $1,360,861 CAD ($170,108 CAD/Unit) 7.24% Cap Rate Detroit, MI 48208
Investment Highlights
- Completely renovated in 2023. New electrical, plumbing and insulation. Turnkey fully occupied rental opportunity.
- Close to Wayne State University, Detroit Medical Center, and cultural attractions.
- Multifamily property located in Detroit’s Woodbridge neighborhood.
- Positioned in an area experiencing continued redevelopment and investment.
Executive Summary
4535 Commonwealth Street offers a multifamily investment opportunity in Detroit’s Woodbridge neighborhood. The property spans approximately 4,676 square feet and sits on a 0.15-acre lot. Built in 1914, it retains historic character while being positioned in a submarket that has seen steady revitalization and development activity.
The location provides convenient access to major Detroit destinations, including Midtown, Downtown, and Corktown, all within a short drive. Public transportation options such as the QLINE streetcar and Amtrak station are nearby, enhancing connectivity for residents. The property is also within proximity to Wayne State University, the Detroit Medical Center, and cultural institutions, making it attractive to a diverse tenant base.
With its central location and accessibility to major highways, including I-94 and M-10, this asset is well-suited for investors seeking to capitalize on Detroit’s ongoing urban renewal and strong rental demand in established neighborhoods.
The location provides convenient access to major Detroit destinations, including Midtown, Downtown, and Corktown, all within a short drive. Public transportation options such as the QLINE streetcar and Amtrak station are nearby, enhancing connectivity for residents. The property is also within proximity to Wayne State University, the Detroit Medical Center, and cultural institutions, making it attractive to a diverse tenant base.
With its central location and accessibility to major highways, including I-94 and M-10, this asset is well-suited for investors seeking to capitalize on Detroit’s ongoing urban renewal and strong rental demand in established neighborhoods.
Financial Summary (Actual - 2024) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,360,861 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $170,108 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.15 AC |
| Cap Rate | 7.24% | Building Size | 4,676 SF |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1914/2023 |
| Property Subtype | Apartment | ||
| Zoning | R-3 - Zoned multifamily | ||
| Price | $1,360,861 CAD |
| Price Per Unit | $170,108 CAD |
| Sale Type | Investment |
| Cap Rate | 7.24% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 4,676 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1914/2023 |
| Zoning | R-3 - Zoned multifamily |
Amenities
Unit Amenities
- Dishwasher
- Disposal
- Storage Space
- Oven
- Basement
Site Amenities
- 24 Hour Access
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 4 | - | 400 |
| 2+1 | 4 | - | 750 |
1 1
Very walkable
80/100
Moderately drivable
70/100
Some public transit
40/100
Exceptionally bikeable
90/100
Property Taxes
| Parcel Number | 08-006232 | Total Assessment | $325,616 CAD (2025) |
| Land Assessment | $0 CAD (2025) | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $0 CAD (2025) | Tax Year | 2024 |
Property Taxes
Parcel Number
08-006232
Land Assessment
$0 CAD (2025)
Improvements Assessment
$0 CAD (2025)
Total Assessment
$325,616 CAD (2025)
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2024
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4535 Commonwealth St
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