15925-15929 W 11 Mile Rd - Apartments FOR SALE


Southfield, MI 48076
$1,375,000 USD
360-989-5395
15925-15929 W 11 Mile Rd, Southfield, MI for Sale
$1,375,000 USD
Apartments - FOR SALE
1/11
null | 6.73% Cap Rate

15925-15929 W 11 Mile Rd
Southfield, MI 48076


HIGHLIGHTS

  • Stablized
  • Renovated
  • Cash Flow

OVERVIEW

Chestnut Oaks is an eight-unit garden-style apartment community built in 1986 and located in Southfield, Michigan (Oakland County). The property comprises four one-bedroom/one-bath units (850 SF) and four two-bedroom/one-bath units (1,050 SF) across two two- story buildings on 0.70 acres. Current in-place rents average $1,225 for one-bedroom units and $1,375 for two-bedroom units, generating $124,800 in gross potential rent annually. All eight units have been fully renovated with new flooring, updated fixtures, modernized kitchens, and in-unit washer/dryers. These comprehensive upgrades reduce near-term capital expenditure needs and help minimize ongoing maintenance and turnover costs, allowing a new owner to step into a turnkey, move-in-ready asset with predictable operating expenses.

FOR SALE DETAILS

PRICE

$1,375,000 USD

PRICE/SF

$74 USD /SF

# OF UNITS

8

PRICE/UNIT

$171,875

CAP RATE

6.73%

% LEASED

87%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Chestnut Oaks

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1986

PARKING SPACES

14

LAND DETAILS

LAND ACRES

0.7 AC

LAND SF

30,492 SF

ZONING

RM

APN/PARCEL ID

24-24-226-003

ASK ABOUT THIS PROPERTY

Brady WilliamsGreater DevelopmentMore Info
360-989-5395

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Brady WilliamsGreater DevelopmentMore Info
360-989-5395

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