14801 Joy Rd - Apartments FOR SALE


Detroit, MI 48228- West Side
$850,000 USD
586-260-4346
14801 Joy Rd, Detroit, MI for Sale
$850,000 USD
Apartments - FOR SALE
1/60
null | 4.47% Cap Rate

14801 Joy Rd
Detroit, MI 48228
West Side


HIGHLIGHTS

  • Great Location Close To All Major Freeways
  • Affordable Units
  • Water and Heat Included

OVERVIEW

Prime value-add multifamily investment opportunity in Detroit. This 14-unit property (all 1-bedroom units) is approximately 50% occupied with 7 paying tenants one of which is section 8,. Six units are vacant and currently being turned. 1 unit is currently being used for storage. Six of the seven units will be renting in the next 30-60 days providing immediate cash flow and a clear path to increased NOI. Once all of these units are rented again this property will gross around 12000 per month or 134400 annually. Extensive upgrades and improvements completed since 2023 reduce near-term capital expense risk while enhancing rent growth potential. Significant upside remains through stabilization of vacant units and continued rental optimization. Ideal for investors seeking strong yield, forced appreciation, and long-term portfolio growth. Let's make a deal.

FOR SALE DETAILS

PRICE

$850,000 USD

PRICE/SF

$102 USD /SF

# OF UNITS

14

PRICE/UNIT

$60,714

CAP RATE

4.47%

% LEASED

78%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1964

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.46 AC

LAND SF

20,038 SF

ZONING

R4

APN/PARCEL ID

22-0022159

ASK ABOUT THIS PROPERTY

David RabiorClyde Realty LLCMore Info
586-260-4346

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

David RabiorClyde Realty LLCMore Info
586-260-4346

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