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21400 W 7 Mile Rd 64 Unit Apartment Building Offered at $4,800,000 Detroit, MI 48219
EXECUTIVE SUMMARY
64-unit brick apartment complex in 8 buildings that are connected. Situated on 2.28 acre site with nice curb appeal and location. Property is 75% occupied. 24 two bedroom units and 40 one bedroom units. New electrical & plumbing have been completed to buildings of the 16 vacant units that need to be rehabbed. All other units have been remodeled! All units have individual furnaces which is paid for by tenants. Large parking lot for tenants and property management office and property manager in place. Ideal opportunity for all cash buyer or bank financing.
PROPERTY FACTS
| Price | $4,800,000 | Building Size | 50,478 SF |
| Price Per Unit | $75,000 | Average Occupancy | 75% |
| Sale Type | Investment | No. Stories | 2 |
| No. Units | 64 | Year Built | 1955 |
| Property Type | Multifamily |
| Price | $4,800,000 |
| Price Per Unit | $75,000 |
| Sale Type | Investment |
| No. Units | 64 |
| Property Type | Multifamily |
| Building Size | 50,478 SF |
| Average Occupancy | 75% |
| No. Stories | 2 |
| Year Built | 1955 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 24 | - | - |
| 1+1 | 40 | - | - |
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PROPERTY TAXES
| Parcel Number | 22-016835 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $1,361,200 |
PROPERTY TAXES
Parcel Number
22-016835
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$1,361,200
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21400 W 7 Mile Rd
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