Located just up the street from Manoogian Mansion, the official residence of the Mayor of Detroit, 506 Parkview Dr presents an excellent investment opportunity for someone willing to gamble on the resurgence of Detroit. The mayor’s residence being only a half block away and proximity to the Detroit River (it back on to a marina) should guarantee a solid return on investment. This Neoclassical Revival looks to be in pretty good condition.
Built in 1900, this Neoclassical Revival boasts approximately 5,500 sf with 6 bedrooms and 4 full bathrooms. Outside it is definately in need of paint and the railings on the front should be put back to original. Hopefully there are some old pictures floating around that show what the original railings look like. It would be nice to see the satellite dish taken off the side of the house.
Most of the original woodwork is in place and the floors and staircase appear to be in good original condition. Simple fixes like removing paint off the fireplace and replacing some brass eighties lighting don’t affect its livability but it does appear to be in need of a new kitchen. If you don’t mind living with some minor renovations, you could move in right away.
The back of the house shows a second floor covered balcony that looks over a marina in a harbor off the Detroit River near Belle Isle. This is a big house for around $50 a square foot that just needs a little love. Keep the house flippers and their beige paint out of this one.