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Additional details
$ 2,800,000
Est. payment /mo
Active
8207 Schaefer HWY Detroit, MI 48228
44 Beds
40 Baths
28,406 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type MultiFamily
Listing Status Active
Purchase Type For Sale
Square Footage 28,406 sqft
Price per Sqft $98
Subdivision Esper Gardens
MLS Listing ID 58050188314
Bedrooms 44
Full Baths 40
Year Built 1957
Lot Size 0.620 Acres
Acres 0.62
Property Sub-Type MultiFamily
Property Description
NO SELLER FINANCING! Renovated 40-unit brick apartment complex (four 2-story connected buildings with 10 units in each building). There are 36 1-bed 1-bath and 4 2-bed 1-bath situated on a 27,007 sf site. Current occupancy 90%. Property is at a 10%+ cap rate with add value. Nice curb appeal, high demand building near Dearborn. Two Boilers and roof updated, newer windows. Clean environmental report. Rear and side parking lot for tenants, with a security system. Property manager in place that is transferable. Ideal opportunity for cash buyer or bank financing.
Location
State MI
County Wayne
Area Area05042Det6Tiregrnfldlivernois
Interior
Heating Natural Gas, Separate Meters, Steam
Fireplace No
Exterior
View Y/N No
Building
Foundation Basement
Sewer Public Sewer
Water Public
New Construction No
Schools
School District Detroit
Others
Acceptable Financing Cash
Listing Terms Cash
Special Listing Condition ShortSaleNo, Standard
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Listed by Justin Zehel of Keller Williams Paint Creek
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