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McNichols Apartments 21520 W 7 Mile Rd 64 Unit Apartment Building $3,500,000 ($54,688/Unit) Detroit, MI 48219
Executive Summary
NO SELLER FINANCING! 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. Property management office and property manager in place. Ideal opportunity for all cash buyer or bank financing. This is an add value opportunity
Property Facts
| Price | $3,500,000 | Building Class | C |
| Price Per Unit | $54,688 | Lot Size | 2.28 AC |
| Sale Type | Investment | Building Size | 104,980 SF |
| No. Units | 64 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1955 |
| Property Subtype | Apartment | Parking Ratio | 1.6/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | B-4 | ||
| Price | $3,500,000 |
| Price Per Unit | $54,688 |
| Sale Type | Investment |
| No. Units | 64 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 2.28 AC |
| Building Size | 104,980 SF |
| No. Stories | 2 |
| Year Built | 1955 |
| Parking Ratio | 1.6/1,000 SF |
| Zoning | B-4 |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Disposal
- Storage Space
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Tenant Controlled HVAC
- Trash Pickup - Curbside
- Walk-Up
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 24 | - | - |
| 1+1 | 40 | - | - |
1 1
Fairly walkable
50/100
Exceptionally drivable
100/100
Some public transit
40/100
Fairly bikeable
50/100
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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Contact the Sale Advisor
McNichols Apartments | 21520 W 7 Mile Rd