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Canfield Lofts 1-Bedroom, 2-Bath asks $262K

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Photo via <a href="http://www.zillow.com/homes/for_sale/_type/2118228709_zpid/42.479947,-82.795372,42.224704,-83.402367_rect/10_zm/0_mmm/">Zillow</a><br>
Photo via Zillow

Once the site of David Buick's original Detroit HQ, 460 Canfield has a lot of great amenities for the loft-living urban dweller: all-important secure parking, a shared rooftop patio, geothermal heating and AC and an elevator. The 1-bedroom, 2-bath unit on offer has 900 square feet of living space and includes in-unit laundry, hardwood floors, floor-to-ceiling windows, and a massive walk-in closet with custom built-in storage. The place also has vaguely alien looking martini supports and a large, barn-style sliding door separates the unit's single bedroom form the rest of the living space.

The kitchen is plain, and the cabinets look a bit IKEA. It has the usual stainless appliances and a nice, deep sink. There's a great deal of cabinet space, too. The bathrooms have decent finishes (subway tile, nickel fixtures, solid surface vanity), and there's a stackable for your washing and drying needs. The unit also looks out on a large patio, and the living space is bright airy and welcoming.

The bad news is that $260K is a lot to pay for a 1-bedroom anything, especially when you can get a very nice house (with as many as four bedrooms) for the same price just a few blocks away. The unit also has a really odd listing history, going on and off the market twice in 2012, once for $80K and again a few months for $135K. Now priced at nearly double the last ask, the unit will also hit you with $281 a month in HOA fees which, in part, at least gets you a security patrol.

This unit has a lot of charming features—an architecturally interesting ceiling fan and handsome glass glass doors frosted in a geometric pattern. The high price per square foot, $291 seems a little out of line for the neighborhood, though it's clearly gentrifying at an almost frightening rate. If you can get past the ask (by countering with $220K, e.g.), the unit has a lot going for it, including proximity to Woodward and a variety of interesting restaurants including the Jolly Pumpkin. Traffic Jam & Snug, and Motor City Brewing Works. Other lofts in the building have listed (and sold) for far less, even ones of comparable size (or larger) and with nicer fittings and fixtures. Perhaps Midtown went up in value by 50% in under a year? It's Detroit. Weirder things have happened.

·Cozy Midtown Loft Comes With Huge Terrace, Brewery Views [Curbed Detroit]
·Satan and Kiddos Make Detroit Debut in Secret Ceremony [Curbed Detroit]
·Photographer has the Worst Idea for the Packard Plant [Curbed Detroit]
·460 W Canfield St #106 [Zillow]