16500 N Park Dr
Southfield, MI 48075
North Park Towers · Multifamily Property For Sale · 313 Units

Among Detroit's premier apartment communities, The Sapphire offers a uniquely elegant, luxurious, and spacious apartment living experience for its residents. Encompassing approximately 460,000 net rentable square feet, The Sapphire has 313 luxury apartments and 13 commercial units in two, 19-story towers connected by a single lobby. The Sapphire has exceptionally large apartments, including one-, two-, three-, and four-bedroom units ranging from 1,000 to over 3,000 square feet. The apartments have floor-to-ceiling windows allowing for spectacular views, large fully-equipped kitchens, exceptional closet space, and balconies in select units (74%). Amenities include a doorman, lobby clubhouse, underground parking garage with gate access system, convenience store /market, pool with sundeck, fitness center, spacious courtyard, social room, restaurant (with restricted access), and a dry cleaning / valet service. The residents are responsible for the electric, while heat and air conditioning are paid by the landlord. Although the property operates as a 100% luxury apartment rental community, it has been established legally as a condominium community, allowing for an easy conversion (i.e. when the property was built in 1967 it was legally established as a condominium, with a master deed and tax bill for each unit). While the property has been well maintained by current ownership, it offers an outstanding opportunity for added value via strategic upgrades.