1705 Oakman Blvd - Apartments FOR SALE


Detroit, MI 48238- North Detroit
$550,000 USD
810-986-2331
1705 Oakman Blvd, Detroit, MI for Sale
$550,000 USD
Apartments - FOR SALE
1/16
null | 3.89% Cap Rate

1705 Oakman Blvd
Detroit, MI 48238
North Detroit


OVERVIEW

13 UNITS ALL ONE BEDROOM. VALUE ADD OPPORTUNITY. DEFERRED MAINTENANCE, CURRENTLY BELOW MARKET RENT. GROSS POTENTIAL MONTHLY INCOME $11,050. NEWER WINDOWS. Opportunity to Acquire: 1705 Oakman Blvd, Detroit, MI This 13-unit apartment building, located in a desirable area of Detroit, offers all one-bedroom units with significant upside potential. The property is currently experiencing deferred maintenance and rents are well below market rates, presenting an excellent value-add opportunity for investors. With an estimated gross potential monthly rental income of $11,000, this asset is positioned for strong cash flow post-renovation. Initial capital improvements of approximately $100,000 to $150,000 are recommended for system upgrades and general building improvements. Conveniently located near shopping centers, schools, major roads, and highways, this property is ideal for repositioning in a stable rental market.

FOR SALE DETAILS

PRICE

$550,000 USD

PRICE/SF

$63 USD /SF

# OF UNITS

13

PRICE/UNIT

$42,308

CAP RATE

3.89%

% LEASED

77%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Fentress Apartments - Value Add Opportunity

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1927

PARKING SPACES

13

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

5,915 SF

ZONING

R5

APN/PARCEL ID

12-004787

ASK ABOUT THIS PROPERTY

Glen BrownReMax Dream Properties- Remax CommercialMore Info
810-986-2331

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Glen BrownReMax Dream Properties- Remax CommercialMore Info
810-986-2331

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