16611 Greenfield Rd - Apartments FOR SALE


Detroit, MI 48235- Grandmont
$600,000 USD
810-986-2331
16611 Greenfield Rd, Detroit, MI for Sale
$600,000 USD
Apartments - FOR SALE
1/7
null | 8.6% Cap Rate

16611 Greenfield Rd
Detroit, MI 48235
Grandmont


HIGHLIGHTS

  • The Crescent Court Apartments offer eight four-bedroom/ one-bath units and four two-bedroom/ one-bath apartments.
  • The apartments are close to shopping points, transportation services, schools, and employment centers.
  • The complex sees low operating expenses and tenants cover electricity and gas.
  • The units have maintained stable occupancy rates.

OVERVIEW

16611 Greenfield Road is home to Crescent Court Apartments, a 12-unit apartment building consisting of eight one-bedrooms and four two-bedrooms. Residents pay for electric and gas services, and there is off-street parking. Residents make rental payments through a rent collection service. Low maintenance and management are required. The building's roof is four years old, and the hot water heater is five years old. The current monthly rental income is $8,775.00; please see the attached rent roll.

FOR SALE DETAILS

PRICE

$600,000 USD

PRICE/SF

$51 USD /SF

# OF UNITS

12

PRICE/UNIT

$50,000

CAP RATE

8.6%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1975

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.23 AC

LAND SF

10,019 SF

ZONING

R4

APN/PARCEL ID

22-0507925

ASK ABOUT THIS PROPERTY

Glen BrownReMax Dream Properties- Remax CommercialMore Info
810-986-2331

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Glen BrownReMax Dream Properties- Remax CommercialMore Info
810-986-2331

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