PRIME VALUE-ADD POTENTIAL IN PALMER PARK: 1000 MERTON, DETROIT, MI 48203
1000 Merton is a 20-unit, 70%-occupied multifamily property located near the entrance of Palmer Park, just off McNichols Road.
The property is part of Detroit’s Palmer Park Apartment Buildings Historic District. The area has undergone numerous successful revitalization efforts during the past decade.
The latest development has been created through the contributions of Detroit’s premier entrepreneur-turned-real estate developer, Dan Gilbert.
His efforts brought the annual Rocket Mortgage Classic Golf Tournaments to the Detroit Golf Club within Palmer Park in 2019.
Single residential homes around the Subject Property within Palmer Park are positioned for further
gentrification. The area’s median home values of $360,000 prices competitively alongside its
popular neighbors, Bagley and University District.
The increasing attention that the Palmer Park area has been receiving of late has not been lost on
our Team. We believe that our favorable acquisition price, the strong-value proposition, and the inhouse
construction and management teams can create a lucrative investment opportunity for our
investors for years to come.
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