Log In/Sign Up
Your email has been sent.
19625 Conant 24 Unit Apartment Building $1,200,000 ($50,000/Unit) 13% Cap Rate Detroit, MI 48234
INVESTMENT HIGHLIGHTS
- Fully upgraded 24-unit brick apartment complex featuring all private-entry residences with no shared corridors, offering reduced maintenance.
- Secure, fenced parking area providing ample tenant convenience in a well-located Detroit neighborhood with steady rental demand.
- Strong rental performance with units achieving $900 to $1,100 per month, supporting a reported 13 percent cap rate and consistent cash flow.
- Recent improvements include updated interiors and a newer roof, positioning the property for minimal near-term capital needs.
- Diverse unit mix with one two-bedroom apartment and twenty-three one-bedroom units, supplemented by an on-site tenant laundry room
EXECUTIVE SUMMARY
Great investment! 24 unit brick apartment complex for sale! This property has all private entrance units, no common areas! This complex offers 1) 2 bedroom 1 bath unit / 23) 1 bedroom 1 bath units! This complex has a laundry room for tenants use! Newer roof. Electric base board heat! NO boiler. Units have been updated and are In great condition. Large parking lot fenced in. Prime location. High $900-$1100 a month rents. Bringing in a 13% cap rate with great cash flow! Whether you are looking to expand your portfolio or make your first investment, this property offers long-term potential with minimal immediate maintenance!
PROPERTY FACTS
| Price | $1,200,000 | Apartment Style | Low-Rise |
| Price Per Unit | $50,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.49 AC |
| Cap Rate | 13% | Building Size | 13,097 SF |
| No. Units | 24 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1958 |
| Property Subtype | Apartment | Parking Ratio | 3.05/1,000 SF |
| Zoning | B4 - Commercial Zoned District | ||
| Price | $1,200,000 |
| Price Per Unit | $50,000 |
| Sale Type | Investment |
| Cap Rate | 13% |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.49 AC |
| Building Size | 13,097 SF |
| No. Stories | 2 |
| Year Built | 1958 |
| Parking Ratio | 3.05/1,000 SF |
| Zoning | B4 - Commercial Zoned District |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 23 | - | - |
| 2+1 | 1 | - | - |
1 1
PROPERTY TAXES
| Parcel Number | 09-00853-542 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $311,500 |
PROPERTY TAXES
Parcel Number
09-00853-542
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$311,500
1 of 28
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
19625 Conant
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.