Helen Apartments 15771 Mack Ave 14 Unit Apartment Building $975,000 ($69,643/Unit) Detroit, MI 48224

The Helen Apartments presents a rare opportunity to acquire a 14-unit multifamily asset located in Detroit's highly sought-after Morningside neighborhood, directly bordering Grosse Pointe. Positioned within a stable and improving residential corridor, the property offers investors a compelling value-add opportunity through the lease-up of five currently vacant units, providing a clear path to increased occupancy, stronger cash flow, and enhanced asset value.
The property has benefited from significant capital improvements, including newer mechanical systems and a roof that is less than five years old, minimizing near-term capital expenditure requirements. Additionally, the asset features a dedicated resident parking lot—a highly desirable amenity that enhances tenant retention, convenience, and overall marketability.
Further enhancing the investment profile, ownership is currently pursuing a PILOT (Payment in Lieu of Taxes) agreement through the City of Detroit, which has the potential to significantly reduce operating expenses and improve long-term returns.
With strong in-place income, operational upside through lease-up, recent capital improvements, and a strategic location adjacent to one of Metro Detroit's most desirable communities, The Helen Apartments offers an attractive combination of current cash flow and future growth potential.