Detroit, MI 48219
MLS# 50220594
Excellent investment opportunity featuring a 40-unit apartment complex consisting of two buildings on one lot. The property offers a desirable unit mix of 16 one-bedroom/one-bath units, 16 two-bedroom/one-bath units, and 8 townhouse-style two-bedroom/1.5-bath units. Currently 98% occupied with only one vacancy, providing strong occupancy and consistent rental income. Both building boilers were replaced last winter. Roofs are in solid condition and windows are well maintained. The property offers an attractive 10% cap rate and is situated in a prime location.
Listed by Justin Zehel · Keller Williams Paint Creek
Estimate only — principal & interest, no taxes or insurance. Rates change daily; confirm with your lender.
$12,641/mo
$500,000 down · $2,000,000 financed
Loading similar listings…
Listing information is deemed reliable but not guaranteed and is provided exclusively for consumers' personal, non-commercial use. Listings are provided courtesy of the participating listing broker. This information is believed accurate but is not warranted and all measurements and calculations are approximate.
10 photosActive2489 Russell Street, Detroit, MI 48207
Detroit, MI 48207
Commercial · 7,600 sqft
49 photosActive2987 Franklin Street, PH 14, Detroit, MI 48207
Detroit, MI 48207
4 bd · 5 ba · 4,860 sqft
28 photosActive12680-12700 Greenfield Road, Detroit, MI 48227
Detroit, MI 48227
Commercial · 10,272 sqft