14246 Shadywood Dr - Apartments FOR SALE


Sterling Heights, MI 48312
$2,590,000 USD
586-354-3886
14246 Shadywood Dr, Sterling Heights, MI for Sale
$2,590,000 USD
Apartments - FOR SALE
1/1
null | Request Cap Rate

14246 Shadywood Dr
Sterling Heights, MI 48312


HIGHLIGHTS

  • 10 condos for sale in Sterling Heights MI (sold as a portfolio or individually)

OVERVIEW

These condos, built around 2015–2016, are currently leased on two-year terms at an average monthly rent of $1,900 per unit, with options to extend at the landlord’s discretion. Each unit is in excellent upgraded condition, featuring stainless steel appliances and granite countertops in most. The original AC units, hot water tanks, and furnaces are still in place and functioning well. Monthly HOA fees of $360 cover water, trash pickup, sewer, property insurance, exterior maintenance, lawn care, and grounds upkeep. Annual property taxes are approximately $4,990 per unit. After accounting for HOA fees and taxes, each unit generates a net operating income of about $13,490 per year.

FOR SALE DETAILS

PRICE

$2,590,000 USD

PRICE/SF

$30 USD /SF

# OF UNITS

10

PRICE/UNIT

$259,000

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2015

PARKING SPACES

-

LAND DETAILS

LAND ACRES

20.57 AC

LAND SF

896,179 SF

ZONING

-

APN/PARCEL ID

10-10-24-399-001

ASK ABOUT THIS PROPERTY

Hassan KaradshehR2M RealtyMore Info
586-354-3886

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Hassan KaradshehR2M RealtyMore Info
586-354-3886

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.