16805-16813 Baylis St - Apartments FOR SALE


Detroit, MI 48221- Martin Park
$550,000 USD
888-883-8509
16805-16813 Baylis St, Detroit, MI for Sale
$550,000 USD
Apartments - FOR SALE
1/12
null | Request Cap Rate

16805-16813 Baylis St
Detroit, MI 48221
Martin Park


HIGHLIGHTS

  • Fully updated and income-producing 5-unit apartment building.
  • Offering a strong opportunity for investors, 100% occupied.
  • All leases are month-to-month, leaving flexibility for the new owner.

OVERVIEW

Fully updated and income-producing 5-unit apartment building, offering a strong opportunity for investors. Each unit is currently occupied by reliable tenants, all of whom have been in place for approximately three years and wish to stay. All leases are month-tomonth, leaving flexibility for the new owner. Recent upgrades include energy-efficient appliances, a new furnace, and a new hot water tank. No major repairs are needed. Approximately 15 years remain on the tax abatement. Located near expressways, just 15 minutes from downtown Detroit and 20 minutes from Detroit Metro Airport. Great 8.5% cap rate in an up-and-coming Detroit neighborhood.

FOR SALE DETAILS

PRICE

$550,000 USD

PRICE/SF

$103 USD /SF

# OF UNITS

5

PRICE/UNIT

$110,000

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1926

PARKING SPACES

9

LAND DETAILS

LAND ACRES

0.25 AC

LAND SF

11,000 SF

ZONING

R2

APN/PARCEL ID

08-010086,08-010087

ASK ABOUT THIS PROPERTY

Chad ApapMark Z Real Estate ExpertsMore Info
888-883-8509

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Chad ApapMark Z Real Estate ExpertsMore Info
888-883-8509

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