2521 W McNichols Rd - Apartments FOR SALE


Detroit, MI 48221
$880,000 USD
734-812-8284
2521 W McNichols Rd, Detroit, MI for Sale
$880,000 USD
Apartments - FOR SALE
1/17
null | 10.25% Cap Rate

2521 W McNichols Rd
Detroit, MI 48221


HIGHLIGHTS

  • All units have been renovated
  • Newer roof, newer boiler + backup, vinyl windows, new interior light fixtures, new water pumps with tankless water heaters,
  • Upgraded Common Area
  • Fully certified building, fully lead certified

OVERVIEW

Global Real Estate Advisors are pleased to present the exclusive offering of McNichols Apartments in Detroit, MI. Located across from Detroit Golf Club, in the nation’s Motor City, McNichols Apartments was originally constructed in 1952 with the building being renovated in 2021/2022. The property is a collection of 16 units consisting of 5 one-bedroom units, 8 two-bedroom units and 3 three-bedroom units. All the units have been renovated, which leaves a buyer with value-add potential through rent raises, a few light unit upgrades and implementing a RUBS program on the property.

FOR SALE DETAILS

PRICE

$880,000 USD

PRICE/SF

$50 USD /SF

# OF UNITS

16

PRICE/UNIT

$55,000

CAP RATE

10.25%

% LEASED

70%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

McNichols Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1952

PARKING SPACES

9

LAND DETAILS

LAND ACRES

0.5 AC

LAND SF

21,780 SF

ZONING

CM

APN/PARCEL ID

08-00556-971

ASK ABOUT THIS PROPERTY

Nick KirbyGREAMore Info
734-812-8284

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Nick KirbyGREAMore Info
734-812-8284

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