303 Covington Dr - Apartments FOR SALE


Highland Park, MI 48203
$1,200,000 USD
586-741-6612
303 Covington Dr, Highland Park, MI for Sale
$1,200,000 USD
Apartments - FOR SALE
1/45
null | Request Cap Rate

303 Covington Dr
Highland Park, MI 48203


HIGHLIGHTS

  • Recently remodeled 15-unit Palmer Park GEM
  • Over $400k in renovations by the seller
  • This property has been a reliable income producer for decades

OVERVIEW

MID-CENTURY IN THE CITY! Sellers have made an extensive investment into renovations, making this recently remodeled 15-unit Palmer Park GEM a prime income-generating property. 303 Covington consistently earns top-dollar rental income, with most units already updated or in the final stages of renovation—tenant-ready within the month. Recent upgrades include a new boiler (2022), all new electrical service panels, dozens of replaced thermal windows, new in-unit ACs, and numerous interior improvements throughout each unit. This property has been a reliable income producer for decades and has undergone several thoughtful restorations, making it highly desirable for long-term, consistent occupancy. Tenants enjoy a shared courtyard and laundry room, secure fencing, illuminated walkways, front and rear entrances, and first-come, first-served parking. Rent rolls and expense reports available upon request. Don’t miss this incredible investment opportunity in one of Detroit’s most historic and revitalized neighborhoods!

FOR SALE DETAILS

PRICE

$1,200,000 USD

PRICE/SF

$76 USD /SF

# OF UNITS

15

PRICE/UNIT

$80,000

CAP RATE

Request Cap Rate

% LEASED

40%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

303 Covington

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1964

PARKING SPACES

50

LAND DETAILS

LAND ACRES

0.25 AC

LAND SF

10,890 SF

ZONING

Commercial

APN/PARCEL ID

02-00-260-60-02L

ASK ABOUT THIS PROPERTY

Erick MonzoKeller Williams Realty - Great LakesMore Info
586-741-6612

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Erick MonzoKeller Williams Realty - Great LakesMore Info
586-741-6612

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