Little Village Multifamily Portfolio 3 Multifamily Properties in Detroit, MI
INVESTMENT HIGHLIGHTS
- Ownership is in the process of obtaining a PILOT which not only solves for any tax exposure, it will actually reduce current taxes by ~$100K.
- Both organic rent growth and rental premiums through strategic renovations will be possible for years to come.
- Additional upside is available through the implementation of a RUBS program which will help offset the significant Utility Expenses.
- New developments such as the Shepherd, Stanton Yards, and Collect, are attracting new renters and pushing demand in the immediate neighborhood.
- Beztak took over management in October and has made significant strides as it relates to occupancy and collections.
EXECUTIVE SUMMARY
Signature is proud to present the Little Village Detroit Portfolio, offering a unique investment opportunity to acquire 3 iconic multifamily assets in the heart of Detroit’s newest cultural corridor. Little Village has been coined “The Next Big Thing in Detroit” according to Forbes. Located along the Detroit River, adjacent to historic Indian Village, and minutes from the Detroit Central Business District, the Portfolio offers residents immediate access to Detroit’s newest up and coming art & culinary hub, strong employment, the nation’s 2nd largest theater district, several parks, casinos, and four professional sporting venues. Aside from the Portfolio’s natural charm, timeless architecture, and incredible location, the assets offer significant long-term upside potential through renovation and organic rent growth.
www.littlevillage.signature-multifamily.com/
www.littlevillage.signature-multifamily.com/
PROPERTY FACTS
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 3 |
| Individually For Sale | 0 |
| Total Building Size | 146,297 SF |
| Total Land Area | 1.02 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
|
Trombley Lodge Apartments
1050 Hibbard St, Detroit, MI 48214 |
Multifamily | 24,500 SF | 1926 | - |
|
Hibbard Apartments
8905 E Jefferson Ave, Detroit, MI 48214 |
Multifamily | 59,397 SF | 1924 | - |
|
Kean Residences
8925 E Jefferson Ave, Detroit, MI 48214 |
Multifamily | 62,400 SF | 1931 | - |
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