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4535 Commonwealth St 8 Unit Apartment Building $995,000 ($124,375/Unit) 7.24% Cap Rate Detroit, MI 48208
Investment Highlights
- Completely renovated in 2023. New electrical, plumbing and insulation. Turnkey fully occupied rental opportunity.
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $995,000 | Apartment Style | Low-Rise |
| Price Per Unit | $124,375 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.15 AC |
| Cap Rate | 7.24% | Building Size | 4,676 SF |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1914/2023 |
| Property Subtype | Apartment | ||
| Zoning | R-3 - Zoned multifamily | ||
| Price | $995,000 |
| Price Per Unit | $124,375 |
| Sale Type | Investment |
| Cap Rate | 7.24% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 4,676 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1914/2023 |
| Zoning | R-3 - Zoned multifamily |
Amenities
Unit Amenities
- Dishwasher
- Disposal
- Storage Space
- Oven
- Basement
Site Amenities
- 24 Hour Access
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 4 | - | 400 |
| 2+1 | 4 | - | 750 |
1 1
Walk Score®
Very Walkable (82)
Bike Score®
Biker's Paradise (99)
Property Taxes
| Parcel Number | 08-006232 | Total Assessment | $233,500 (2025) |
| Land Assessment | $0 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $0 (2025) | Tax Year | 2024 |
Property Taxes
Parcel Number
08-006232
Land Assessment
$0 (2025)
Improvements Assessment
$0 (2025)
Total Assessment
$233,500 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
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4535 Commonwealth St
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