3205 Kendall St - Apartments FOR SALE


Detroit, MI 48238- North Detroit
$1,350,000 USD
248-979-3466
3205 Kendall St, Detroit, MI for Sale
$1,350,000 USD
Apartments - FOR SALE
1/15
null | 12% Cap Rate

3205 Kendall St
Detroit, MI 48238
North Detroit


OVERVIEW

Stunning brick apartment complex located on Detroit’s desirable west side in the Dexter/Linwood area. This 24-unit multifamily asset consists entirely of one-bedroom, one-bath units and is currently approximately 90% occupied, with a portion of Section 8 tenants. The property has seen several major capital improvements, including a roof approximately 5 years old, updated vinyl windows, a boiler replaced approximately 2 years ago, and a newer hot water tank. More than half of the units have been rehabilitated, offering immediate upside and reduced near-term capital expenditures. This stabilized asset operates at an impressive ~12% cap rate, generating approximately $150,000 in net annual income. An excellent opportunity for both seasoned investors and those looking to expand their multifamily portfolio in a strong rental corridor. Serious inquiries

FOR SALE DETAILS

PRICE

$1,350,000 USD

PRICE/SF

$55 USD /SF

# OF UNITS

24

PRICE/UNIT

$56,250

CAP RATE

12%

% LEASED

90%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1925

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.2 AC

LAND SF

8,639 SF

ZONING

R2

APN/PARCEL ID

12-005051

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.