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Auction Receivership Sale | 269-Units
641, 731, 757, 831, 851 Covington Dr; 672 Merton Rd; 825, 850, 951, 980 Whitmore Rd | Detroit, MI 48203
First Bid Meets Reserve Auction SaleSale Price
Property Details
| Listing Type | For Sale |
| eCode | 108 |
| City | Detroit |
| State | MI |
| Zip Code | 48203 |
| County | Wayne |
| Property Type | Multifamily |
| Property Subtype | Low-Rise/Garden |
| Building Size | 310,659 SF |
| Total Lot Size | 5.52 Acres |
| Sale Price | First Bid Meets Reserve Auction Sale |
| Auction Date | August 5, 2026 |
| Parking | 131 spaces |
| Zoning | R-5 |
| Parcel ID (APN) | 02002616-26; 02002627; 02002690; 02002570; 02002583-4; 02002594-6; 02002588; 02002590-1; 02002628; 02002629 |
Highlights
- Scaled Portfolio: Ten-building cluster enabling efficient, unified management
- Value-Add Upside: Rent growth via upgrades and improved operations
- Strong Demand: Consistent workforce housing need with limited new supply
- Diversified Income: Multiple assets reduce vacancy risk and allow phased capex
- NEZ Benefit: Partial tax abatement lowers expenses and boosts returns
- Prime Access: Near Woodward Ave, I-75, and major employment hubs
No available spaces listed.