2255 Webb St - Apartments FOR SALE


Detroit, MI 48206- North Detroit
$4,980,000 USD
248-979-3466
2255 Webb St, Detroit, MI for Sale
$4,980,000 USD
Apartments - FOR SALE
1/31
null | Request Cap Rate

2255 Webb St
Detroit, MI 48206
North Detroit


OVERVIEW

BACK ON THE MARKET DUE TO BUYER NOT HAVING FUNDS TO CLOSE AT CLOSING. PRICE REDUCED TO SELL!! CALLING ALL INVESTORS!! This Russell Woods apartment complex has 156 units and is an ADD VALUE INVESTMENT/OPPORTUNITY!! 50% occupied! 100 one bed/one bath and 56 two beds/one bath units. Occupied units are in great condition. Vacant units just need turned and rented. This complex is made up of 28 buildings on one plot of land! Rare find. Fenced property. Some of the roofs have been updated/replaced. All of the windows have been updated to vinyl. 48 of the units are on boiler heat and the rest of the 108 units are individually furnaced. Great mix! Good rents. Located in the great Russell Woods Community of Detroit! This will be a cash cow once units are turned and fully occupied! Seller is open to seller financing with 50% down, seller must be in first position. Serious buyers only please!

FOR SALE DETAILS

PRICE

$4,980,000 USD

PRICE/SF

$33 USD /SF

# OF UNITS

156

PRICE/UNIT

$31,923

CAP RATE

Request Cap Rate

% LEASED

60%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Russell Woods Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1948

PARKING SPACES

-

LAND DETAILS

LAND ACRES

5.3 AC

LAND SF

230,868 SF

ZONING

R5

APN/PARCEL ID

08-00-341-00-02L

ASK ABOUT THIS PROPERTY

Justin ZehelKeller Williams Paint CreekMore Info
248-979-3466

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Justin ZehelKeller Williams Paint CreekMore Info
248-979-3466

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