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8525 Maxwell St 12 Unit Apartment Building $500,000 ($41,667/Unit) Detroit, MI 48213
INVESTMENT HIGHLIGHTS
- Significant capital expenditure completed
- Potential for 2 additional units
- Favorable expense structure: TT pay gas and electric
- Revenue in-place with an occupancy of 50%
EXECUTIVE SUMMARY
NAI Farbman is pleased to present the exclusive offering of and REO, 12-unit, two-story, brick multifamily building
located at 8525 Maxwell Street. The Maxwell Apartments are on a quiet street that sits near the border of Detroit and the
east side of Hamtramck. The property has had recent, significant capital improvements, positioning it as an ideal light
value-add investment. This REO property was previous owned by an out-of-town owner that took their attention away
from the property.
located at 8525 Maxwell Street. The Maxwell Apartments are on a quiet street that sits near the border of Detroit and the
east side of Hamtramck. The property has had recent, significant capital improvements, positioning it as an ideal light
value-add investment. This REO property was previous owned by an out-of-town owner that took their attention away
from the property.
PROPERTY FACTS
| Price | $500,000 | Building Class | B |
| Price Per Unit | $41,667 | Lot Size | 0.27 AC |
| Sale Type | Investment | Building Size | 8,037 SF |
| Sale Condition | REO Sale | Average Occupancy | 50% |
| No. Units | 12 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1927 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | R2 - Residential | ||
| Price | $500,000 |
| Price Per Unit | $41,667 |
| Sale Type | Investment |
| Sale Condition | REO Sale |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.27 AC |
| Building Size | 8,037 SF |
| Average Occupancy | 50% |
| No. Stories | 2 |
| Year Built | 1927 |
| Opportunity Zone |
Yes |
| Zoning | R2 - Residential |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Basement
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 12 | - | - |
1 1
PROPERTY TAXES
| Parcel Number | 17-008486 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $187,100 |
PROPERTY TAXES
Parcel Number
17-008486
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$187,100
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8525 Maxwell St
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