470 Martin Luther King Jr Blvd
Detroit, MI 48201
Kings Arms · Multifamily Property For Sale · 105 Units

Midtown Area great conversion opportunity. Land Contract available.
The subject property is currently a 130 unit Hotel with bathrooms in each unit. 30,875 square feet building. The subject building to be converted to a 80 unit apartment building to studio, 1 bedroom and 2 bedroom apartments or unit count subject to the Developer programing. The acquisition of adjacent land to the east or west to develop a parking lot will serve this project well for a conversion to market rate apartments for a dedicated parking lot.
The building is currently being operated as a low tier Motel. The highest and best use for the property develop to a apartment building or upgrade to a Hotel with new ameni
The subject property is well located Midtown which includes DMC, VA, Childrens Hospital. Midtown is going through a regentrification which includes rehab of many apartment buildings, commercial buildings and some of Detroits most notable restaurants. A true comeback of the Midtown neighborhood..
Detroit is going through the largest growth that is has seen on the last 75 years which include New Retail/ Services uses and New interest in Corporations interested in locating their companies in the city of Detroit. With this expansion there has been a growth of housing options, apartments, condos, homes all to support the New Corporate customers that are moving thousands of jobs to Detroit every month.
Detroit continues to appeals to the younger generation workforce that desire to live where they work and to be part of live, work and play experience. The empty nesters are finding their way to downtown to live and be part of the energy of the comeback. The next phase will be young couples with children will begin to move to the city as alternative education choices expands such as charter schools and the public school system improves.
The New Center, Midtown and Downtown markets are experiencing over 7 billion of projects planned, under construction and completed. Bedrock and Ford Mo Co have embarked on 2 projects that will exceed 2 billion in investment. The comeback is for real this time and shall be sustained by the investment of the Corporate Companies in Detroit.