22
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$690,000
3 Baths
2,209 SqFt
Active
525 W Lafayette BLVD Detroit, MI 48226
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Key Details
Property Type Multi-Family
Sub Type MultiFamily
Listing Status Active
Purchase Type For Rent
Square Footage 2,209 sqft
Subdivision Fort Shelby Hotel Condo
MLS Listing ID 20261009241
Style HighRise
Full Baths 3
Year Built 1927
Property Sub-Type MultiFamily
Property Description
Exceptional investment opportunity in the Fort Shelby Residences, located in the heart of Detroit's Central Business District. This offering includes two high-floor condos situated just below the penthouse level. Both units are fully leased through July 2026, providing immediate and reliable cash flow.
Residents benefit from the amenities of the Hilton DoubleTree Hotel located below the residences, including lobby reception, coffee shop, restaurant and bar, business and reception center, and fitness room. The residential floors sit above the hotel in the historic Albert Kahn tower, offering additional privacy.
These units enjoy extremely low property taxes—less than $3,000 per unit per year—thanks to the NEZ-Rehab tax abatement in place through 2032. The HOA does not restrict long-term leasing; short-term rentals are not permitted.
With continued development throughout West Downtown, including the Cambria Hotel, Water Square Apartments at the former Joe Louis site, and the Ralph C. Wilson Jr. Centennial Park, these condos are well-positioned for appreciation. As individual condominium units, they may also be sold separately in the future to maximize resale value.
Residents benefit from the amenities of the Hilton DoubleTree Hotel located below the residences, including lobby reception, coffee shop, restaurant and bar, business and reception center, and fitness room. The residential floors sit above the hotel in the historic Albert Kahn tower, offering additional privacy.
These units enjoy extremely low property taxes—less than $3,000 per unit per year—thanks to the NEZ-Rehab tax abatement in place through 2032. The HOA does not restrict long-term leasing; short-term rentals are not permitted.
With continued development throughout West Downtown, including the Cambria Hotel, Water Square Apartments at the former Joe Louis site, and the Ralph C. Wilson Jr. Centennial Park, these condos are well-positioned for appreciation. As individual condominium units, they may also be sold separately in the future to maximize resale value.
Location
State MI
County Wayne
Area Area05101Detsouthofgrandriver
Interior
Heating Heat Pump
Cooling Central Air, Heat Pump
Fireplace No
Exterior
Pool None
View Y/N No
Garage false
Building
Foundation Slab
Sewer Public Sewer
Water Public
New Construction No
Schools
High Schools Detroit
School District Detroit
Others
Senior Community false
Acceptable Financing Cash, Conventional, WarrantyDeed
Listing Terms Cash, Conventional, WarrantyDeed
Special Listing Condition ShortSaleNo, Standard
Pets Allowed Cats Ok, Dogs Ok, Number Limit
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Listed by Jerome Huez of Berkshire Hathaway HomeServices The Loft Warehouse
NEARBY SCHOOL & BUSINESS
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