16810-16854 Lahser Rd - Apartments FOR SALE


Detroit, MI 48219- Brightmoor
$3,600,000 USD
248-476-3700
16810-16854 Lahser Rd, Detroit, MI for Sale
$3,600,000 USD
Apartments - FOR SALE
1/11
null | 11.89% Cap Rate

16810-16854 Lahser Rd
Detroit, MI 48219
Brightmoor


HIGHLIGHTS

  • 48 Unit Apartment Complex - 36 Units Currently Occupied.
  • Actuals & Projected NOI included - 11.89% Upside Cap at Ask.
  • NEW Current Market Rent of $895/mo.
  • Month- to- Month Tenants Pay $920/mo
  • 47/48 Units Completely Remodeled from 2018-2022.
  • Full Firestone Roof Replacement in 2014 (25 Yr Warranty).

OVERVIEW

Newly renovated 48 unit apartment complex in northwest Detroit. Great potential for a motivated Buyer to push to a 10%+ cap rate. 3 layer keypad security - gate, building and room. Loan assumption available as an option. Many amenities in the surrounding area (Meijer, banks, restaurants, etc.)

FOR SALE DETAILS

PRICE

$3,600,000 USD

PRICE/SF

$92 USD /SF

# OF UNITS

48

PRICE/UNIT

$75,000

CAP RATE

11.89%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Presidential Plaza Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1963

PARKING SPACES

58

LAND DETAILS

LAND ACRES

0.9 AC

LAND SF

39,204 SF

ZONING

multifamily

APN/PARCEL ID

22-11335-961,22-1133624

ASK ABOUT THIS PROPERTY

Joseph EvangelistaThomas Duke CompanyMore Info
248-476-3700

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Joseph EvangelistaThomas Duke CompanyMore Info
248-476-3700

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