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Schaefer Manor Apartments 8207 Schaefer Hwy 40 Unit Apartment Building $2,800,000 ($70,000/Unit) Detroit, MI 48228
EXECUTIVE SUMMARY
Renovated 40-unit brick apartment complex (four 2-story connected buildings with 10 units in each building). There are 36 1-bed 1-bath and 4 2-bed 1-bath situated on a 27,007 sf site. Current occupancy 80%. Nice curb appeal high demand building near Dearborn. Two Boilers and roof updated, environmental clear, rear parking lot for tenants, security system. Property manager in place keep or self-manage. Ideal opportunity for cash buyer or bank financing. Can be sold as a package with 3 other apartment complexes!
PROPERTY FACTS
| Price | $2,800,000 | Building Class | C |
| Price Per Unit | $70,000 | Lot Size | 0.62 AC |
| Sale Type | Investment | Building Size | 35,726 SF |
| No. Units | 40 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1957 |
| Apartment Style | Low-Rise | ||
| Zoning | Multi-family | ||
| Price | $2,800,000 |
| Price Per Unit | $70,000 |
| Sale Type | Investment |
| No. Units | 40 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.62 AC |
| Building Size | 35,726 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1957 |
| Zoning | Multi-family |
AMENITIES
UNIT AMENITIES
- Heating
- Kitchen
- Oven
- Range
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 36 | - | 600 |
| 2+1 | 4 | - | 800 |
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PROPERTY TAXES
| Parcel Number | 22-03120-719 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $882,200 |
PROPERTY TAXES
Parcel Number
22-03120-719
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$882,200
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Schaefer Manor Apartments | 8207 Schaefer Hwy
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