3915 Devon Rd - Apartments FOR SALE


Royal Oak, MI 48073
$2,600,000 USD
360-989-5395
3915 Devon Rd, Royal Oak, MI for Sale
$2,600,000 USD
Apartments - FOR SALE
1/13
null | 6.02% Cap Rate

3915 Devon Rd
Royal Oak, MI 48073


OVERVIEW

Devon Street Apartments is a fully stabilized, 14-unit apartment building located in the desirable community of Royal Oak, Michigan. The property features 14 units. Of the 14 units 10 of them are one bed one bath (3 of those are Loft), 3 two bed one bath, and 1 three bed one bath. The property has 28 off street dedicated parking spaces for tenants. The property is 100% occupied, generating a gross monthly income of over $17,900. Over the last few years, the Devon Street Apartments have undergone an extensive transformation, with every unit receiving upgraded kitchens, bathrooms, flooring, and modern fixtures. These high-end renovations allow the property to command premium rents in the Royal Oak market while ensuring low operational costs and minimal deferred maintenance for ownership. With its strong occupancy, renovated units, and close proximity to Royal Oak and Birmingham, The Devon Street Apartments offers a rare combination of stability and upside potential in a prime location

FOR SALE DETAILS

PRICE

$2,600,000 USD

PRICE/SF

$186 USD /SF

# OF UNITS

14

PRICE/UNIT

$185,714

CAP RATE

6.02%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Z on Devon

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1953

PARKING SPACES

14

LAND DETAILS

LAND ACRES

0.29 AC

LAND SF

12,632 SF

ZONING

AI

APN/PARCEL ID

25-05-427-036

ASK ABOUT THIS PROPERTY

Brady WilliamsGreater DevelopmentMore Info
360-989-5395

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Brady WilliamsGreater DevelopmentMore Info
360-989-5395

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