9501 Iris St - Apartments FOR SALE


Detroit, MI 48227- Mackenzie
$999,999 USD
248-946-7900
9501 Iris St, Detroit, MI for Sale
$999,999 USD
Apartments - FOR SALE
1/3
null | 5% Cap Rate

9501 Iris St
Detroit, MI 48227
Mackenzie


HIGHLIGHTS

  • Rapidly Developing area
  • Large units
  • Open floor plan

OVERVIEW

Amazing INVESTOR Special! Don't miss this amazing opportunity in a rapidly developing neighborhood! This 58-unit Complex is vacant and primed for completion. Some units are already renovated while other need drywall and finishing touches. Property features (52) 1 units and (6) 2 bedroom units with 1 bath. Projected Income: $40,000 monthly / $475,000+ annually at 80% occupancy (higher at full occupancy). Location highlights: Close to schools, shopping, public transportation and more. Parking: Plenty of on-site parking spaces available. Cash Buyers Only,- no seller financing. Property Sold AS IS. Buyer to perform due diligence. Serious inquires Only. This property has the potential to be a true cash-flow machine once stabilized.

FOR SALE DETAILS

PRICE

$999,999 USD

PRICE/SF

$22 USD /SF

# OF UNITS

58

PRICE/UNIT

$17,241

CAP RATE

5%

% LEASED

2%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Iris Manor

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1969

PARKING SPACES

96

LAND DETAILS

LAND ACRES

0.95 AC

LAND SF

41,382 SF

ZONING

C, Detroit City

APN/PARCEL ID

22-004726

ASK ABOUT THIS PROPERTY

Erica ColemanMoving Forward RealtyMore Info
248-946-7900

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

Erica ColemanMoving Forward RealtyMore Info
248-946-7900

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