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Park Shelton 1-Bedroom Looks to Double Price, Lists for $189K

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Photos via <a href="http://www.zillow.com/homes/for_sale/Detroit-MI/house,condo,apartment_duplex,mobile,townhouse_type/88362763_zpid/17762_rid/42.668805,-82.853394,42.07631,-83.780365_rect/9_zm/3_p/?3col=true"> Zillow</a><br>
Photos via Zillow

Built in 1926, the Park Shelton is one of Detroit's most beautiful residential buildings. Originally a hotel and most famously the home of Frida Kahlo and Diego Rivera in Detroit. This 1-bedroom, 1-bathroom 9th floor condo is above and beyond most of the smaller Park Shelton units we've seen in terms of period detail. This one has restored hardwood floors, an updated bathroom with tumbled stone tile, a walk-in closet and original wainscoting and plaster work.

While not enormous—the condo is just 704 square feet—the high, white-painted beamed ceilings give the impression of greater space, and there's a cleverly appointed niche on the living room that works well as a mini home office. The galley kitchen is dark and small, but has nice, new appliances and granite countertops. The bedroom is large and also has nice-looking plaster and wall trim. There's a walk-in closet, and the unit has its own designated parking space in the building's attached garage.

This unit sold in 2013 for a hair over $105K. At the 189K ask, it's looking to nearly double down that price, and may achieve it given the way the market is going in midtown and downtown. the $423-a-month HOA fee covers 24-hour security and maintenance, and building residents enjoy amenities including a rooftop solarium, a roof deck, workout room with sauna and a lovingly restored grand lobby.

When we look at the photos from the 2013 listing, we almost want to give them $89K just for demolishing the insanely ugly vessel sink and for painting and undoing the nasty tomato red brothel aesthetic in the bedroom. Given that these were the only changes made to the unit—kitchen, living room and bathroom were otherwise untouched, though the current owners seem to have removed a washer/dryer combo machine from the walk-in closet—we wonder if time, a coat of non-red paint and a Home Depot bathroom vanity justify the increase. Only the market can say for sure.

·Residential Units [The Park Shelton]
·For $334K, You can Live in Frida Kahlo's Old Building [Curbed Detroit]
·15 E Kirby St, Apt #922 [Zillow]