525 W Lafayette Boulevard,Detroit, MI 48226
Detroit, MI 48226
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.
Details
| MLS # | 20261009241 |
|---|---|
| Listing Type | For Sale |
| Style | Duplex |
| Sub-Type | Resale |
| Status | Active |
| Year | 1927 |
| Days On Site | 247 |
| Listing Provided By | Berkshire Hathaway HomeServices The Loft Warehouse | Jerome Huez |
Features
| Bath(s) | 3 Total |
|---|---|
| SQ Feet | 2,209 |
| Story(s) | 1 |
| Units | 2 |
| Zoning | Residential |
| Acreage | 0.23 |
| Water Front | Yes |
Interior
| Cooling Yes / No | Yes |
|---|---|
| Cooling | Central Air, Heat Pump |
| Heating Yes / No | Yes |
| Heating | Heat Pump |
Exterior
| Construction Materials | Brick, Stone |
|---|---|
| Foundation Details | Slab |
Parking
| Garage Yes / No | No |
|---|---|
| Attached Garage Yes / No | No |
Taxes
| Tax Annual Amount | 2179 |
|---|
Area Information
| State | MI |
|---|---|
| County | Wayne |
| City | Detroit |
| Zip Code | 48226 |
| Area | Det South Of Grand River |
| Community Name | FORT SHELBY HOTEL CONDO |
| School District | Detroit |
| High School | Detroit |
| Listing VS Median (in FORT SHELBY HOTEL CONDO) | |
Price: $680,000 low | high Med: $680,000 sqft: 2,209 low | high Med: 2,209 $ / sqft: $308 low | high Med: $308 On site: 247 low | high Med: 307.5 | |
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Learn More About This Property
| State | MI |
|---|---|
| County | Wayne |
| City | Detroit |
| Zip Code | 48226 |
| Area | Det South Of Grand River |
| Community Name | FORT SHELBY HOTEL CONDO |
| School District | Detroit |
| High School | Detroit |
| Listing VS Median (in FORT SHELBY HOTEL CONDO) | |
Price: $680,000 low | high Med: $680,000 sqft: 2,209 low | high Med: 2,209 $ / sqft: $308 low | high Med: $308 On site: 247 low | high Med: 307.5 | |
