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26601 W Carnegie Park Dr
Southfield, MI 48034
Carnegie Park Apartments · Multifamily Property For Sale
·
176 Units
PROPERTY FACTS
| No. Units | 176 | Building Size | 200,000 SF |
| Property Type | Multifamily | Average Occupancy | 96% |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Garden | Year Built/Renovated | 1987/2007 |
| Building Class | B | Parking Ratio | 2.08/1,000 SF |
| Lot Size | 13.55 AC | ||
| Zoning | RC, Southfield - Residential | ||
| No. Units | 176 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 13.55 AC |
| Building Size | 200,000 SF |
| Average Occupancy | 96% |
| No. Stories | 3 |
| Year Built/Renovated | 1987/2007 |
| Parking Ratio | 2.08/1,000 SF |
| Zoning | RC, Southfield - Residential |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Cable Ready
- Dishwasher
- Fireplace
- Washer/Dryer
- Heating
- Vaulted Ceiling
- Wi-Fi
- Patio
SITE AMENITIES
- Clubhouse
- Fitness Center
- Laundry Facilities
- Pool
- Property Manager on Site
- Sauna
- Spa
- Tennis Court
- Gated
- Elevator
- Maintenance on site
ABOUT 26601 W CARNEGIE PARK DR , SOUTHFIELD, MI 48034
The exclusivity as a gated community, Carnegie Park offers a uniquely elegant, luxurious and spacious apartment living experience for its residents. Originally constructed in 1988 as a 240-unit luxury rental community, the property was converted to for-sale condominium homes in 2007 of which 64 were sold. The community consists of two phases, the East and the West. The East is 124 rental apartments and the West is 116 units with 52 unsold-rental units and 64 sold condos. There are six three-story buildings of wood frame construction with brick vinyl siding exterior and asphalt shingle pitched roofs. Currently, 34 units have received complete interior upgrades and six Penthouse units are in a whitebox status awaiting improvements. The rent premiums for these units range from $175 to $235, averaging approximately $225 per unit, per month. Apartment improvements include updated cabinetry and doors, new stainless steel appliances, upgraded lighting package, as well as new gray tone faux wood (vinyl) flooring, at an average cost of approximately $10,000. This equates to an ROI of approximately 27%. The upgraded units are in building 4. This building was damaged due to a fire and has been completely restored, apart from the final six whitebox units.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 74 | - | 1,003 - 1,030 |
| 2+2 | 102 | - | 1,122 - 1,500 |
PROPERTY TAXES
| Parcel Number | 24-18-400-033 | Improvements Assessment | $6,010,370 |
| Land Assessment | $446,710 | Total Assessment | $6,457,080 |
PROPERTY TAXES
