MI > Detroit > Grayton Park Manor
Detroit, MI 48223,12850 Dolphin ST
Detroit, MI 48223,12850 Dolphin ST
Detroit, MI 48223,12850 Dolphin ST
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Matthew Stransky

Matthew Stransky

+1(248) 765-8788
$5,980,000
Est. payment /mo
115,219 SqFt
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UPDATED:

Key Details

Property Type Commercial

Sub Type RealEstateOnly

Listing Status Active

Purchase Type For Sale

Square Footage 115,219 sqft

Price per Sqft $51

Subdivision Grayton Park Manor

MLS Listing ID 20251053183

Year Built 1955

Lot Size 4.170 Acres

Acres 4.17

Property Sub-Type RealEstateOnly

Property Description

Dolphin Gardens is comprised of 76 one-bedroom/one-bath apartments; 50 two-bedroom/one-bath apartments; one single-family home; and one office. The current owner has invested significant capital in extensive renovations, modernizing 89 units with new kitchens, bathrooms, and flooring. Additional improvements include upgrades to furnaces, hot water tanks, boilers, laundry facilities, and common areas—positioning Dolphin Gardens as a well-maintained, income-stabilized investment opportunity within Detroit's strong rental market. The property offers excellent connectivity, positioned near I-94 and U.S. Route 24 (Telegraph Road), two major corridors linking Detroit to its surrounding suburbs and key employment centers. Anchored by top cultural institutions and universities, and bolstered by projects like the Detroit Center for Innovation and Michigan Central Innovation Center, the region is rapidly emerging as a hub for technology, education, and investment. Dolphin Gardens Apartments is a well-maintained 130-unit multifamily community located at 12850 Dolphin Street in Detroit, Michigan. Spanning 18 buildings, the property offers a balanced mix of unit types and heating systems designed for efficient operations. The primary building includes 48 boiler-heated units with ownership providing gas and water, while tenants pay for electricity. The remaining 82 units are equipped with individual furnaces and are separately metered for gas and electric, with ownership covering water service—creating a favorable balance between tenant responsibility and owner-controlled expenses.

Location

State MI

County Wayne

Area Area05033Detschcraft6Grnfldlimits

Interior

Heating ForcedAir, Radiant

Fireplace No

Exterior

View Y/N No

Garage false

Building

Foundation Basement, Block

Sewer PublicSewer

Water Public

New Construction No

Schools

High Schools Detroit

School District Detroit

Others

Senior Community false

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Special Listing Condition ShortSaleNo, Standard

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Realcomp MLS
©2025 Realcomp II Ltd. Shareholders
Listed by Vincent Mazzola of O'Connor Realty Detroit, LLC

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Matthew Stransky

Matthew Stransky

Team Owner | License ID: 327649

+1(248) 765-8788

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12850 Dolphin ST

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