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About the Listing 100780 - 627064
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.
Listing Highlights
Status
Active
Days on Site
17
Property Type
Condo/Townhome
MLS ®
60963662
Year Built
1927
Total Square Footage
2,209
Lot/Acreage
N/A
County
Wayne
Neighborhood
Fort Shelby Hotel Condo
Area
Detroit (82001)
HOA Dues
1100/Monthly
School District
Detroit City School District
Interior Details
- Bedrooms: 3
- Bathrooms: 3 Full
- Appliances:
- Air Cond: Central A/C,Heat Pump(s)
- Heating: Heat Pump(s)
- Fireplaces:
- Floor:
- Above Ground Sq Ft: 2209
- Below Ground Sq Ft: n/a
- Basement:
- Other: Cats Allowed,Dogs Allowed,Number Limit
- Water: Public Water
Exterior Details
- Garage Capacity: N/A
- Roof:
- Others:
- Sewer:
- Parking Features: 2 Spaces
Financial Details
- Tax Amount: $2,179
- Taxes w/Assessments: N/A
- Tax/Property ID: N/A
- Tax Year: N/A
Payment Calculator
Monthly Payment
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- in Taxes
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Questions About..
525 W Lafayette Detroit, MI 48226
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