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15860 Joy Road 15880 Joy Rd 60 Unit Apartment Building $4,500,000 ($75,000/Unit) Detroit, MI 48228
EXECUTIVE SUMMARY
WELCOME TO GREENFIELD VILLAS!
LOCATED 6 MINUTES FROM THE HISTORIC CITY OF DEARBORN YOU WILL FIND
THIS 60 UNIT ALL SECTION 8 COMPOUND NESTLED ON A 2 ACRE LOT IN THE QUIET OAKMAN BOULEVARD NEIGHBORHOOD OF HOMEOWNERS. THIS CROWN JEWEL IS RECENTLY REMODELED AND BOASTS 36 TWO BEDROOM 24 ONE BEDROOM APARTMENTS. SHE HAS BEEN CAREFULLY UPGRADED STARTING FROM THE 400 SQUARE BRAND NEW 40 YEAR ROOF WITH HIGH DEFINITION SHINGLES TO EVERY INCH OF ELECTRICAL IN EACH UNIT. SPEAKING OF BRAND NEW, THIS DIAMOND SHINES BRIGHT THROUGH EACH AND EVERY NEW WINDOW, NEW GUTTER AND NEW PIECE OF TRIM. IN ADDITION, THIS BEAUTY HAS A NEWER HEATING SYSTEM AND BRAND NEW PLUMBING TO INSURE MAINTENANCE FREE CASH FLOW. MOREOVER, SHE HAS FRESHLY ROLLED PAINT AND BRAND NEW CARPET WITH TOP OF THE LINE UNDERLAYMENT. EVERY UNIT HAS BEEN RENTED TO SECTION 8 TENANTS,THE MONTHLY DIVIDENDS ARE JUST UNDER $50,000 A MONTH AND ARE PAID BY THE FEDERAL GOVERNMENT. THE TENANTS PAY ALL THE UTILITIES, WHICH ALLOWS THIS COMPLEX TO MAINTAIN JUST UNDER 20% CASH ON CASH THIS DIAMOND WILL BE WRAPPED AROUND A LUCKY OWNER’S FINGERTIPS SOON!
NO SHOWINGS WITHOUT ACCEPTED FULL LIST OFFER.
LOCATED 6 MINUTES FROM THE HISTORIC CITY OF DEARBORN YOU WILL FIND
THIS 60 UNIT ALL SECTION 8 COMPOUND NESTLED ON A 2 ACRE LOT IN THE QUIET OAKMAN BOULEVARD NEIGHBORHOOD OF HOMEOWNERS. THIS CROWN JEWEL IS RECENTLY REMODELED AND BOASTS 36 TWO BEDROOM 24 ONE BEDROOM APARTMENTS. SHE HAS BEEN CAREFULLY UPGRADED STARTING FROM THE 400 SQUARE BRAND NEW 40 YEAR ROOF WITH HIGH DEFINITION SHINGLES TO EVERY INCH OF ELECTRICAL IN EACH UNIT. SPEAKING OF BRAND NEW, THIS DIAMOND SHINES BRIGHT THROUGH EACH AND EVERY NEW WINDOW, NEW GUTTER AND NEW PIECE OF TRIM. IN ADDITION, THIS BEAUTY HAS A NEWER HEATING SYSTEM AND BRAND NEW PLUMBING TO INSURE MAINTENANCE FREE CASH FLOW. MOREOVER, SHE HAS FRESHLY ROLLED PAINT AND BRAND NEW CARPET WITH TOP OF THE LINE UNDERLAYMENT. EVERY UNIT HAS BEEN RENTED TO SECTION 8 TENANTS,THE MONTHLY DIVIDENDS ARE JUST UNDER $50,000 A MONTH AND ARE PAID BY THE FEDERAL GOVERNMENT. THE TENANTS PAY ALL THE UTILITIES, WHICH ALLOWS THIS COMPLEX TO MAINTAIN JUST UNDER 20% CASH ON CASH THIS DIAMOND WILL BE WRAPPED AROUND A LUCKY OWNER’S FINGERTIPS SOON!
NO SHOWINGS WITHOUT ACCEPTED FULL LIST OFFER.
PROPERTY FACTS
| Price | $4,500,000 | Building Class | C |
| Price Per Unit | $75,000 | Lot Size | 1.71 AC |
| Sale Type | Investment | Building Size | 48,336 SF |
| No. Units | 60 | Average Occupancy | 98% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built/Renovated | 1951/2025 |
| Apartment Style | Low-Rise | Parking Ratio | 1.03/1,000 SF |
| Zoning | SD1, Detroit | ||
| Price | $4,500,000 |
| Price Per Unit | $75,000 |
| Sale Type | Investment |
| No. Units | 60 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.71 AC |
| Building Size | 48,336 SF |
| Average Occupancy | 98% |
| No. Stories | 2 |
| Year Built/Renovated | 1951/2025 |
| Parking Ratio | 1.03/1,000 SF |
| Zoning | SD1, Detroit |
AMENITIES
UNIT AMENITIES
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Tenant Controlled HVAC
- Smoke Detector
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PROPERTY TAXES
| Parcel Number | 22-003043-001 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $838,700 |
PROPERTY TAXES
Parcel Number
22-003043-001
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$838,700
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Presented by
Lolo Realty Team
15860 Joy Road | 15880 Joy Rd
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