21
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$5,980,000
Est. payment /mo
115,219 SqFt
Active
12850 Dolphin Street Detroit, MI 48223 3105
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Key Details
Property Type Commercial
Sub Type Commercial/Industrial
Listing Status Active
Purchase Type For Sale
Square Footage 115,219 sqft
Price per Sqft $51
Subdivision Mi
MLS Listing ID 60952423
Annual Tax Amount $161,543
Lot Size 4.170 Acres
Acres 4.17
Lot Dimensions 160x160
Property Sub-Type Commercial/Industrial
Property Description
Dolphin Gardens is comprised of 76 one-bedroom/one-bath apartments; 50 two-bedroom/one-bath apartments; one single-family home; and one office. The current owner has invested significant capital in extensive renovations, modernizing 89 units with new kitchens, bathrooms, and flooring. Additional improvements include upgrades to furnaces, hot water tanks, boilers, laundry facilities, and common areas - positioning Dolphin Gardens as a well-maintained, income-stabilized investment opportunity within Detroit's strong rental market. The property offers excellent connectivity, positioned near I-94 and U.S. Route 24 (Telegraph Road), two major corridors linking Detroit to its surrounding suburbs and key employment centers. Anchored by top cultural institutions and universities, and bolstered by projects like the Detroit Center for Innovation and Michigan Central Innovation Center, the region is rapidly emerging as a hub for technology, education, and investment. Dolphin Gardens Apartments is a well-maintained 130-unit multifamily community located at 12850 Dolphin Street in Detroit, Michigan. Spanning 18 buildings, the property offers a balanced mix of unit types and heating systems designed for efficient operations. The primary building includes 48 boiler-heated units with ownership providing gas and water, while tenants pay for electricity. The remaining 82 units are equipped with individual furnaces and are separately metered for gas and electric, with ownership covering water service - creating a favorable balance between tenant responsibility and owner-controlled expenses.
Location
State MI
County Wayne
Area Detroit (82001)
Zoning Multi-Family
Interior
Heating Forced Air, Radiant
Building
Foundation Basement
Water Public Water
Structure Type Brick
Others
Ownership Private
Financing Cash,Conventional
Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource.
Listed by O'Connor Realty Detroit, LLC
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