49 Units Stabilized & Update-Ready for Upside 18045-18123 Lahser Rd 49 Apartment Units Online Auction Sale Detroit, MI 48219

Colonial Manor, located at 18045-18123 Lahser Road in Detroit’s Old Redford neighborhood, presents a stabilized investment opportunity with value-add via enhanced management, strategic leasing momentum, and modern interior upgrades. The subject recently received its Certificate of Compliance from the City of Detroit BSEED (Buildings, Safety, Engineering, and Environmental Department).

The two buildings within the gated community feature a unit mix of 30 one-bedroom units, 18 two-bedroom units, and one three-bedroom unit. Features and amenities include a laundry facility, property management, and 24-hour access, as well as air conditioning and heating, high-speed internet, and on-site conference rooms. Colonial Manor recently underwent more $1 million worth of renovations by previous ownership. Both buildings recently received combinations of 1965 original restored hardwood floors and carpeted flooring.

Colonial Manor is easily accessible at two main roads/ transportation routes, Grand River Road and M-85 (Fort Street), near the Highway 24 and State Route 102 interchange. The Detroit Metropolitan Wayne County Airport is about 20 miles southwest of the neighborhood. Residents are just minutes from Dearborn and Southfield, and within walking distance from Detroit Public Schools and Detroit Roller Wheels Skating Rink. Employment and shopping opportunities are conveniently located around the complex, as well as the Wayne County Community College (2.5 miles).

Residents who use public transit can access several DDOT bus stops along Greenfield Road, as well as one directly in front of our building. The neighborhood is in the northwest suburbs of the city, but its proximity to major roadways and access to more local bus stops make it easy to get around. Access to Interstate 96 is quick and easy, and reaching Downtown is about 15 miles east. Colonial Manor Apartments are conveniently located near a large shopping area anchored by Detroit Meijer Supercenter, near Grand River and Six Mile. There are also five parks within 10.9 miles and three hospitals within 4.5 miles, with the nearest being Straith Hospital.

According to CoStar analytics, the 3-mile demographics indicate a growing population of 121,809 residents, with nearly half of the area residing in renter-occupied housing. One- and two-person households comprise 62% of the household inventory, aligning with Colonial Manor Apartments’ unit mix and capabilities.