Map of Property

Detroit Residential Investment Opportunity Listing Details & Market Data

City of Detroit, Detroit, MI 48224

  • For Sale $3,816,000
  • Property Type Multi-Family
  • Property Size 50,000 SF
  • Units 53
  • Date Updated Mar 14, 2024

• Single-Family Residential portfolio comprised of 53 properties​​

• Stabilized portfolio – 98% occupied; proforma assumes 5% vacancy​​

• All properties have Certificates of Compliance (CofC's) - $38,500​ spent on certification inspection fees in 2021​​

• Portfolio comprised of seven (7) 4-bedroom homes, thirty-three (33)​, 3-bedroom homes, thirteen (13) 2-bedroom homes.​​

• 50 market-rate tenants + 3 Section 8 tenants provide stable income.​​

• Professionally-managed and well-maintained portfolio​​

• Proforma 10% third party management fee provides new owner​ opportunity increase investor/owner profitability​ (Fee is included​ in portfolio operating expenses)​​

• Excellent opportunity for local portfolio investor/manager/owner​​

• Approximately $556,500 in repairs, maintenance and improvements​ in 2020-2022​​

• Many units at below market rents

Want more info on this listing?

Reach out to the broker for more info on lease terms and amenities

Contacts

broker

Eric D. Banks

Dominion Real Estate Advisors

(248) 399-9999

Location

Getting Around

  • Walk Score ®

    Car-Dependent (43)

  • Transit Score ®

    Some Transit (45)

  • Bike Score ®

    Bikeable (53)
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  • City Detroit, MI
  • Neighborhood Finney
  • Zip Code 48224
  • Market Detroit

Points of Interest

  • Bricktown

    7.62 miles

  • Greektown

    7.62 miles

  • Renaissance Center

    7.72 miles

  • Millender Center

    7.79 miles

  • Canfield Street

    7.79 miles

  • Mack Avenue

    7.79 miles

  • Warren Avenue

    7.80 miles

  • Martin Luther King Junior Boulevard

    7.81 miles

  • Cadillac Center

    7.81 miles

  • Broadway

    7.82 miles

  • Shell

    0.32 miles

  • BP

    0.38 miles

  • Sunoco

    0.40 miles

  • Marathon

    0.42 miles

  • Krausmann Service

    0.90 miles

  • BP

    1.01 miles

  • Shell

    1.09 miles

  • Sunoco

    1.20 miles

  • Mobil

    1.20 miles

  • Exxon

    1.22 miles

  • FCA Employee Parking

    3.07 miles

  • FCA Employee Parking

    3.17 miles

  • WCCC Eastern Campus Lot

    3.35 miles

  • Indycar Pit Parking

    5.88 miles

  • River Place Parking Garage

    6.49 miles

  • Eastern Market parking garage

    6.99 miles

  • Eastern Market Lot #8

    7.10 miles

  • Detroit Riverwalk Parking

    7.35 miles

  • Kirby Center Lofts Lot

    7.40 miles

  • WSU Parking Structure 4

    7.41 miles

  • Cadieux Cafe

    0.13 miles

  • Pizza Hut

    0.51 miles

  • Chipotle

    0.54 miles

  • McDonald's

    0.73 miles

  • Wendy's

    1.19 miles

  • JHouse Juice

    1.27 miles

  • Sierra Station

    1.45 miles

  • Subway

    1.85 miles

  • Mack Ave Diner

    2.09 miles

  • Krispy Krunch Chicken

    2.18 miles

  • Giving Tree Montessori School

    0.34 miles

  • Saint Philomena School

    0.34 miles

  • East English Village Preparatory Academy

    0.51 miles

  • Saint Clare of Montefalco School

    0.80 miles

  • Maire Elementary School

    0.81 miles

  • Brownell Middle School

    0.97 miles

  • Chandler Park Academy-Haverhill

    0.98 miles

  • J.E. Clark Preparatory Academy

    1.01 miles

  • Richard Elementary School

    1.04 miles

  • Peace School

    1.09 miles

  • Growing Minds Learning Center

    0.78 miles

  • New Life Head Start

    2.04 miles

  • Assumption Nursery School and Toddler Center

    4.08 miles

  • Fleming Early Learning Neighborhood Center

    4.20 miles

  • Matrix Head Start Infinity II

    4.42 miles

  • Eastpointe Early Learning Center

    4.91 miles

  • Sha-Sha's Kiddy Korner

    5.26 miles

  • The Clifton Daycare and Development Center

    6.48 miles

  • Warren Woods Day Care

    6.80 miles

  • Matrix Headstart

    7.01 miles

Contact Listing Broker

broker

Eric D. Banks

Dominion Real Estate Advisors

(248) 399-9999