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13233 LaSalle Blvd | Detroit, MI 48238
18-Unit Multifamily | Renovated Units | Lease-Up Opportunity
Offering Summary
13233 LaSalle Blvd is an 18-unit multifamily apartment building located in Detroit, Michigan. The asset features a solid brick structure with renovated units and is positioned for near-term lease-up, offering a clear and straightforward operating profile suitable for institutional lenders and equity investors.
18
Units
11,389 SF
Building Size
8,775 SF
Lot Size
(0.20 AC)
Property Overview
13233 LaSalle Blvd is a solid brick, 18-unit multifamily building constructed in 1927 and located in Detroit's Dexter-Linwood area. The property has undergone recent interior renovations and is positioned for near-term lease-up and income stabilization.
Market & Housing Context
The property competes in the workforce / affordable rental segment, not luxury Class A supply. Renovated units benefit from limited nearby new construction and are supported by citywide housing initiatives, including recent approval of ~2,400 affordable housing units through PILOT-related programs, reinforcing long-term rental demand.
Building Fundamentals
  • Property Type: Multifamily – Apartment Building
  • Zoning: R5 (Multifamily)
  • Construction: Brick
  • Building Count: 1
Current Business Plan
Occupancy: 10 occupied / 8 vacant
  • Vacant units: renovated and rent-ready
  • Focus: lease-up to stabilized income
Income Snapshot
In-Place (Current)
Current rent: $8,400/month
10 units occupied
Stabilized Target
Stabilized rent: $15,200/month
Annual stabilized gross: $182,400
Stabilized NOI
Operating expenses: $57,168/year
Stabilized NOI: $125,232/year
Stabilized Gross Rent
$182,400
Vacancy Reserve (5%)
($9,120)
Effective Gross Income
$173,280
Operating Expenses
($57,168)
Net Operating Income
$125,232
Figures provided; subject to verification and diligence.
Value & Public Record Context
Valuation
Cap rate: 7.5%
Implied value: $1,669,760
Public Record & Basis Context
Last Recorded Sale (2019): $57,000 (non-arms-length)
Current use: Income-producing multifamily
Value driven by renovation + stabilized operations, not legacy basis
(Note: historical sale is informational only and not indicative of current market value.)
Tax & Zoning Snapshot
Zoning
R5 – Multifamily
2025 Property Taxes
~$2,762
Prior assessments show variability; taxes to be verified during diligence
Location Highlights
1
Established West Detroit Corridor
Located on LaSalle Boulevard in Detroit's west side (Dexter–Linwood area), the property sits within an established residential corridor characterized by mid-density multifamily buildings, brick walk-ups, and long-term rental demand. The area has historically supported stable workforce housing.
2
Accessibility & Connectivity
The location offers convenient access to major east–west corridors, providing a short drive to Downtown Detroit, New Center, and surrounding employment hubs. Public transportation and neighborhood retail corridors support daily living and tenant accessibility.
Management & Execution
Property Management
  • Detroit operator managing 3,000+ units
  • Leasing, screening, collections, stabilization
Sponsorship
  • Sponsor with 25+ years real estate experience
  • Multifamily acquisition & repositioning focus
Property Photos
Ready to Learn More?
Contact our team to receive detailed financial information, property reports, and to schedule a site visit. We're here to answer your questions and facilitate your due diligence process.
Email
admin@tesrealtygroup.com
Phone
(201) 905-1114
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TES Realty Group, Inc. is a commercial real estate brokerage and advisory firm providing investment sales and capital markets advisory services in New York and New Jersey.
Nothing contained herein constitutes legal, tax, investment, or financial advice, nor an offer or solicitation to purchase or sell any real estate or security.
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