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11811 Morang Dr 22 Unit Apartment Building $1,200,000 ($54,545/Unit) 15.00% Cap Rate Detroit, MI 48224
EXECUTIVE SUMMARY
Calling all investors! 22 unit complex with 11 one bed one bath units and 11 two beds one bath units. Updated windows. Updated plumbing. Updated electrical! All new electic baseboard heaters. All new doors. Units have been remodeled. 19 units are occupied out of the 22 units. This complex is at a 15% cap at listing price. Once the 3 vacants are occupied this will be a 17% cap building. Cash cow ! The 3 vacants will be rented by closing. Serious buyers only.
PROPERTY FACTS
| Price | $1,200,000 | Apartment Style | Low-Rise |
| Price Per Unit | $54,545 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.33 AC |
| Cap Rate | 15.00% | Building Size | 24,375 SF |
| No. Units | 22 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1958 |
| Property Subtype | Apartment | ||
| Zoning | Commercial - Commercial Zoned District | ||
| Price | $1,200,000 |
| Price Per Unit | $54,545 |
| Sale Type | Investment |
| Cap Rate | 15.00% |
| No. Units | 22 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.33 AC |
| Building Size | 24,375 SF |
| No. Stories | 2 |
| Year Built | 1958 |
| Zoning | Commercial - Commercial Zoned District |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Disposal
- Microwave
- Heating
- Ceiling Fans
- Kitchen
- Hardwood Floors
- Refrigerator
- Oven
- Tub/Shower
- Pantry
- Large Bedrooms
SITE AMENITIES
- 24 Hour Access
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 11 | - | - |
| 1+1 | 11 | - | - |
1 1
PROPERTY TAXES
| Parcel Number | 21-076866-001 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $256,300 |
PROPERTY TAXES
Parcel Number
21-076866-001
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$256,300
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11811 Morang Dr
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