Detroit, MI 48228,6015 SOUTHFIELD Freeway

$2,750,000

Est. payment /mo

$3,100,000

11.3%
Est.Price: ?

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6015 SOUTHFIELD Freeway Detroit, MI 48228

56 Beds

48,380 SqFt

SOLD DATE : 12/20/2024

Key Details

Sold Price $2,750,000

Property Type Commercial

Sub Type Real Estate Only

Listing Status Sold

Purchase Type For Sale

Square Footage 48,380 sqft

Price per Sqft $56

Subdivision Rycraft Park (Plats)

MLS Listing ID 20240063629

Bedrooms 56

Year Built 1965

Annual Tax Amount $43,784

Lot Size 1.600 Acres

Property Sub-Type Real Estate Only

Property Description

SUBMIT YOUR HIGHEST &BEST OFFER! Seller will review ALL offers. Welcome to the Kirkwood House Apartments, a thriving 56-unit apartment complex located at 6015 Southfield Freeway in Detroit. This exceptional investment property offers a rare combination of high occupancy rates, strong cash flow, and tremendous upside potential. With 32 one-bedroom/one-bath and 24 two-bedroom/one-bath apartments, the Kirkwood House Apartments boasts an impressive 85% occupancy rate, ensuring a stable stream of income. The property's 8.5% cap rate guarantees strong returns on investment, making it an attractive opportunity for savvy investors. This property presents a rare chance to acquire a high-performing investment in a growing market. With its prime location, experienced management team, and potential for rent growth, the Kirkwood House Apartments is an investment opportunity not to be missed.

Location

State MI

County Wayne

Area Det - Joy-Dbn Ht Grnfld-Limits

Zoning Commercial,Multi-Family

Building

Sewer Public Sewer (Sewer-Sanitary)

Water Public (Municipal)

Structure Type Brick

Schools

School District Detroit

Others

Assessment Amount $100

Acceptable Financing Cash, Conventional, Owner May Carry(Purchase Money Mortgage), Quit Claims Deed, Trade/Exchange, Warranty Deed

Listing Terms Cash, Conventional, Owner May Carry(Purchase Money Mortgage), Quit Claims Deed, Trade/Exchange, Warranty Deed

Special Listing Condition Full Service

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Realcomp MLS
Listed by Rondre Brooks of New Way Realty Partners
Bought with Keller Williams Legacy
agent

Larry Else

Broker | License ID: 386964

+1(313) 315-3215

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