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About the Listing 16575 - 281311
Stunning brick apartment complex located on Detroit’s desirable west side in the Dexter/Linwood area. This 24-unit multifamily asset consists entirely of one-bedroom, one-bath units and is currently approximately 90% occupied, with a portion of Section 8 tenants. The property has seen several major capital improvements, including a roof approximately 5 years old, updated vinyl windows, a boiler replaced approximately 2 years ago, and a newer hot water tank. More than half of the units have been rehabilitated, offering immediate upside and reduced near-term capital expenditures. This stabilized asset operates at an impressive ~12% cap rate, generating approximately $150,000 in net annual income. An excellent opportunity for both seasoned investors and those looking to expand their multifamily portfolio in a strong rental corridor. Serious inquiries
Listing Highlights
Status
Active
Days on Site
-1
Property Type
Multi-Family
MLS ®
50198604
Year Built
1925
Total Square Footage
14,388
Lot/Acreage
0.2
County
Wayne
Neighborhood
R Oakmans Ford Hwy & Dexter Blvd
Area
Detroit (82001)
School District
Detroit City School District
Interior Details
- Bedrooms: 24
- Bathrooms: 24 Full
- Appliances:
- Air Cond:
- Heating: Boiler
- Fireplaces:
- Floor:
- Above Ground Sq Ft: 14388
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water: Public Water
Exterior Details
- Garage Capacity: N/A
- Lot Dimensions: 8712
- Roof:
- Others:
- Sewer: Public Sanitary
Financial Details
- Tax Amount: $14,161
- Taxes w/Assessments: N/A
- Tax/Property ID: N/A
- Tax Year: N/A
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Years
% Down Payment
% Mortgage Rate
Questions About..
3205 Kendall Detroit, MI 48238
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