Hotel Yorba
Multifamily | 250 Units
Marketing description
Southwest Detroit is as colorful as the buildings and murals that dot the main thoroughfares of Bagley and Vernor streets. Restaurants are wide array of cuisines are represented from Mexican to Dominican to Venezuelan. The area unique neighborhoods is rich in history and culture. Southwest Detroit consist of a vibrant neighborhoods and sense of community.
Detroit is going through the largest growth that is has seen on the last 75 years which include New Retail/ Services uses and New interest in Corporations interested in locating their companies in the city of Detroit. With this expansion there has been a growth of housing options, apartments, condos, homes all to support the New Corporate customers that are moving thousands of jobs to Detroit every month.
Detroit continues to appeals to the younger generation workforce that desire to live where they work and to be part of live, work and play experience. The empty nesters are finding their way to downtown to live and be part of the comeback.
The New Center, Midtown, Downtown Corktown and SouthWest Detroit markets are experiencing over 7 billion of projects planned, under construction and completed. Bedrock and Ford Mo Co have embarked on 2 projects that will exceed 2 billion in investment. The comeback is for real this time and shall be sustained by the investment of the Corporate Companies in Detroit.
Investment highlights
Hubbard Farms- great conversion opportunity. The subject property is currently a 250 unit Hotel with common bathrooms on each floor; 55,934 square feet building. The subject building may converted to 70-80 unit apartment building to studio, 1 bedroom and 2 bedroom apartments; unit count subject to the Developer programing.
Built as a rooming house for workforce. The building is currently being operated as a low tier Motel. The highest and best use for the property to convert to a apartment building or upgrade to a Hotel with new amenities.
Land Size/Parking: dedicated parking of 60 spots located adjacent to the property.
Year Built: 1920’s
Architecture: Traditional
Zoning: Residential R-5
Construction: Brick and Masonry
Lot Size: 191 x 95
Parking Lot . 49 acres
Legal Description: W HUBBARD E 195 FT OF S 25 FT 53 E 195 FT OF N 65.55 FT 54DANIEL & WALTER SCOTTENS SUB L1 P195 PLATS, W C R 14/114 90.55 X 195
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