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101157 . 185 Home SFR Detroit, MI Listing Details & Market Data

101157 . 185 Home SFR Detroit, MI, Detroit, MI 48219

  • For Sale $17,331,700
  • Property Type Multi-Family
  • Property Size 198,331 SF
  • Lot Size 22.05 Acre
  • Year Built 1944
  • Date Updated Sep 27, 2022
Detroit is the largest and most populous city in Michigan and has an estimated population of 670,031 people. The city is located on the United States-Canada border and at the seat of Wayne County. It is a major port on the Detroit River, one of the four major straits that connect the Great Lakes system to the Saint Lawrence Seaway. The Detroit metropolitan area, often referred to as Metro Detroit, is home to 4.3 million people, making it the second-largest in the Midwest after the Chicago metro area. Upon Henry Ford’s assembly line creation in 1910 in Highland Park, mass production was revolutionized and catalyzed Detroit’s growth and industrialization. Thanks to the accessibility of the Great Lakes and railways, automobile producers could refine their industry and elevate Detroit from a second-tier industrial city to a worldclass city earning the nickname “the Motor City or Motown.” It is still home and headquarters to the “Big Three” automobile manufacturers General Motors, Ford, and Fiat Chrysler. Today, Metro Detroit has a workforce of about 2.6 Million, over 347,000 businesses, and a Gross Metropolitan Product of $200.9 billion. Detroit’s economy is far more diverse today and features growth in real estate, finance, information technology, research, healthcare, biomedical, trade, transportation, tourism, retail, and media. According to the Detroit Regional Chamber, Detroit’s largest employers include the “Big Three,” Beaumont Health, Henry Ford Health System, Ilitch Companies, Trinity Health Michigan, and major universities. Metro Detroit is home to many universities, including Wayne State, University of Michigan - Dearborn, and the University of Detroit Mercy. Detroit’s automotive heritage has played a prominent role in shaping the culture of Motor City. The pride of Detroit’s music history is the success of Motown Records during the 1960s and early 1970s. The record label popularized recording acts, including Marvin Gaye, Stevie Wonder, Diana Ross, and The Supremes. Detroit still stays true to its roots with its Jazz and Motown-themed entertainment. The Detroit Institute of Arts is world-famous for its Diego Rivera Detroit Industry Murals. The motor city also features diverse dining and nightlife experiences thanks to its multicultural population. In conclusion, the opportunity to buy an investment portfolio in Detroit is rare, and many players are hunting for a chance to include this city in their checklists. It is a wise decision for investors to consider this portfolio and not miss out on what many may call a golden opportunity.
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Location

  • Walk Score ® Somewhat Walkable (63)
  • Transit Score ® Some Transit (47)
  • Bike Score ® Somewhat Bikeable (48)
Powered by Walk Score ®
  • City Detroit, MI
  • Neighborhood Redford
  • Zip Code 48219
  • Market Detroit

Points of Interest

CDM Transport LLC

4.70 miles

Royal Oak

8.05 miles

Dearborn

8.37 miles

Smith's Creek Depot Station

8.44 miles

Walnut Grove Station

8.56 miles

Firestone Station

8.57 miles

Troy

9.34 miles

Sunoco

1.23 miles

BP

1.62 miles

Exxon

3.28 miles

Exxon

3.60 miles

Livonia, MI Supercharger

4.04 miles

Speedfill

5.26 miles

Exxon

6.10 miles

2 stations

7.19 miles

Ferndale Public Library

7.81 miles

Mobil

8.16 miles

Parking Lot A

3.71 miles

Parking Lot G

3.73 miles

bus parking

4.40 miles

Parking Lot B

7.08 miles

Student / Vistor Parking Lot B

7.11 miles

Parking Lot - Central Convent

7.20 miles

Monteith Parking Structure

7.46 miles

South Parking Deck

7.56 miles

Woodward Parking Lot

7.57 miles

SP Parking

9.17 miles

Wendy's

2.38 miles

Subway

2.49 miles

Lefty’s Cheesesteak Hoagies

3.05 miles

Greene's Hamburgers

5.16 miles

Bigalora Wood Fired Cucina

5.68 miles

McDonald's

6.08 miles

1 Under Bar & Grill

6.36 miles

Alloush Grill

6.90 miles

Berkley Common

7.07 miles

MiChigo Pizza

7.62 miles

Wayne County Community College Northwest Campus

2.89 miles

Cornerstone Health + Technology High School

3.00 miles

Blackwell Christian Academy

3.32 miles

Rutherford Winans Academy

3.49 miles

Lawrence Technological University

3.68 miles

Oak Park Service Learning Academy

4.68 miles

Lewis College of Business

5.54 miles

Marygrove College

6.28 miles

CoinCoach

6.64 miles

Oakland Community College at Orchard Ridge

6.65 miles

Helping Hands child care

3.70 miles

Creative Learning Children's College

4.11 miles

Tott's Early Learning Center

4.60 miles

New West Side Head Start

4.62 miles

KinderCare

4.89 miles

The Learning Tree Child Care Center - North

5.24 miles

Tutor Time

5.25 miles

Livonia Little Tots

5.28 miles

God's Little Schoolhouse

6.11 miles

Stepping Out On Faith Learning Center & Childcare

6.30 miles

Contacts

broker

Thomas C. Johnston

SVN | SFRhub Advisors

(602) 403-3695

Highlights

  • Portfolio consists of 179 single-family detached homes and 3 duplexes containing 6 units
  • Average home size is 1,072 square feet
  • Mix of two, three and four bedroom homes
  • Homes built between 1925 and 1960 with an average vintage of 1933
  • Portfolio is professionally managed by a local property management firm
  • 97% leased to fully vetted tenants
  • There are 69 Section 8 tenants in the portfolio
  • Average monthly rental rate of $872
  • Rents are 20% below current market rents
  • Year 1 Stabilized cap rate of 8.77%
  • Year 1 Stabilized yield of 13.82%
  • Average asking price of $93,685 per home
  • Asking price is 37% below the current median home price in Detroit
  • All SVN® Offices Independently Owned & Operated
  • Local Broker License Information: www.SFRhub.com/realstatelicensing

Contact Listing Broker

broker

Thomas C. Johnston

SVN | SFRhub Advisors

(602) 403-3695

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