8525 Maxwell St - Apartments FOR SALE


Detroit, MI 48213- East Side
$500,000 USD
248-841-5007
8525 Maxwell St, Detroit, MI for Sale
$500,000 USD
Apartments - FOR SALE
1/24
null | Request Cap Rate

8525 Maxwell St
Detroit, MI 48213
East Side


HIGHLIGHTS

  • Significant capital expenditure completed
  • Favorable expense structure: TT pay gas and electric
  • Potential for 2 additional units
  • Revenue in-place with an occupancy of 50%

OVERVIEW

NAI Farbman is pleased to present the exclusive offering of and REO, 12-unit, two-story, brick multifamily building located at 8525 Maxwell Street. The Maxwell Apartments are on a quiet street that sits near the border of Detroit and the east side of Hamtramck. The property has had recent, significant capital improvements, positioning it as an ideal light value-add investment. This REO property was previous owned by an out-of-town owner that took their attention away from the property.

FOR SALE DETAILS

PRICE

$500,000 USD

PRICE/SF

$62 USD /SF

# OF UNITS

12

PRICE/UNIT

$41,667

CAP RATE

Request Cap Rate

% LEASED

50%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1927

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.27 AC

LAND SF

11,761 SF

ZONING

R2

APN/PARCEL ID

17-008486

ASK ABOUT THIS PROPERTY

Todd SzymczakNAI FarbmanMore Info
248-841-5007

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Todd SzymczakNAI FarbmanMore Info
248-841-5007

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