8207 Schaefer Hwy - Apartments FOR SALE


Detroit, MI 48228- Mackenzie
$2,800,000 USD
248-979-3466
8207 Schaefer Hwy, Detroit, MI for Sale
$2,800,000 USD
Apartments - FOR SALE
1/11
null | 10% Cap Rate

8207 Schaefer Hwy
Detroit, MI 48228
Mackenzie


OVERVIEW

NO SELLER FINANCING! Renovated 40-unit brick apartment complex (four 2-story connected buildings with 10 units in each building). There are 36 1-bed 1-bath and 4 2-bed 1-bath situated on a 27,007 sf site. Current occupancy 90%. Property is at a 10%+ cap rate with add value. Nice curb appeal, high demand building near Dearborn. Two Boilers and roof updated, newer windows. Clean environmental report. Rear and side parking lot for tenants, with a security system. Property manager in place that is transferable. Ideal opportunity for cash buyer or bank financing.

FOR SALE DETAILS

PRICE

$2,800,000 USD

PRICE/SF

$78 USD /SF

# OF UNITS

40

PRICE/UNIT

$70,000

CAP RATE

10%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Schaefer Manor Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1957

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.62 AC

LAND SF

27,007 SF

ZONING

Multi-family

APN/PARCEL ID

22-03120-719

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.