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Chestnut Oaks 15925-15929 W 11 Mile Rd 8 Unit Apartment Building $1,375,000 ($171,875/Unit) 6.73% Cap Rate Southfield, MI 48076
Investment Highlights
- Stablized
- Cash Flow
- Renovated
Executive Summary
Chestnut Oaks is an eight-unit garden-style apartment community
built in 1986 and located in Southfield, Michigan (Oakland County).
The property comprises four one-bedroom/one-bath units (850 SF)
and four two-bedroom/one-bath units (1,050 SF) across two two-
story buildings on 0.70 acres. Current in-place rents average
$1,225 for one-bedroom units and $1,375 for two-bedroom units,
generating $124,800 in gross potential rent annually. All eight units have been fully renovated with new flooring, updated
fixtures, modernized kitchens, and in-unit washer/dryers. These
comprehensive upgrades reduce near-term capital expenditure
needs and help minimize ongoing maintenance and turnover costs,
allowing a new owner to step into a turnkey, move-in-ready asset
with predictable operating expenses.
built in 1986 and located in Southfield, Michigan (Oakland County).
The property comprises four one-bedroom/one-bath units (850 SF)
and four two-bedroom/one-bath units (1,050 SF) across two two-
story buildings on 0.70 acres. Current in-place rents average
$1,225 for one-bedroom units and $1,375 for two-bedroom units,
generating $124,800 in gross potential rent annually. All eight units have been fully renovated with new flooring, updated
fixtures, modernized kitchens, and in-unit washer/dryers. These
comprehensive upgrades reduce near-term capital expenditure
needs and help minimize ongoing maintenance and turnover costs,
allowing a new owner to step into a turnkey, move-in-ready asset
with predictable operating expenses.
Property Facts
| Price | $1,375,000 | Building Class | C |
| Price Per Unit | $171,875 | Lot Size | 0.70 AC |
| Sale Type | Investment | Building Size | 18,628 SF |
| Cap Rate | 6.73% | Average Occupancy | 87% |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1986 |
| Property Subtype | Apartment | Parking Ratio | 1.75/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | RM | ||
| Price | $1,375,000 |
| Price Per Unit | $171,875 |
| Sale Type | Investment |
| Cap Rate | 6.73% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.70 AC |
| Building Size | 18,628 SF |
| Average Occupancy | 87% |
| No. Stories | 2 |
| Year Built | 1986 |
| Parking Ratio | 1.75/1,000 SF |
| Zoning | RM |
Amenities
Unit Amenities
- Air Conditioning
- Washer/Dryer
- Heating
- Kitchen
- Tub/Shower
Site Amenities
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | - | 850 |
| 2+1 | 4 | - | 1,050 |
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Moderately walkable
70/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 24-24-226-003 | Improvements Assessment | $188,440 |
| Land Assessment | $58,700 | Total Assessment | $247,140 |
Property Taxes
Parcel Number
24-24-226-003
Land Assessment
$58,700
Improvements Assessment
$188,440
Total Assessment
$247,140
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Contact the Sale Advisor
Chestnut Oaks | 15925-15929 W 11 Mile Rd