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Detroit 2 2 Multifamily Properties Offered at $3,750,000 in Detroit, MI
INVESTMENT HIGHLIGHTS
- In place rents approximately 15% below market with renovation upside
- Approximately $2,200,000 in assumable debt across the 2 properties
- Currently 87% occupied in a market with occupancy between 93%-95%
EXECUTIVE SUMMARY
The Detroit 2 Portfolio features 83 units strategically located in Detroit, Michigan. The portfolio is currently 87%+ occupied, generating over $686,000 in annual income. This offering provides the next owner with the opportunity to acquire two strong, cash-flowing assets that have been well maintained and improved over the past several years.
PROPERTY FACTS
| Price | $3,750,000 | Number of Properties | 2 |
| Price / SF | $45.61 / SF | Individually For Sale | 0 |
| Sale Type | Investment | Total Building Size | 82,220 SF |
| Status | Active | Total Land Area | 1.92 AC |
| Price | $3,750,000 |
| Price / SF | $45.61 / SF |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 82,220 SF |
| Total Land Area | 1.92 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
|
Pickford Place Apartments
18637-18717 James Couzens Fwy, Detroit, MI 48235 |
Multifamily | 50,370 SF | 1969 | - |
|
Stacey Ann Apartments
14881 Schaefer Hwy, Detroit, MI 48227 |
Multifamily | 31,850 SF | 1965 | - |
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Detroit 2
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