Multifamily Apartment
For Sale
$2,999,999
14296 Glenwood Street, Detroit, MI 48205
Multifamily, 2 Story, Detroit, MI
Property Size9,744 SF
Lot Size0.17 Acres
Price / SF$307.88
Days on Market108
Property Features for 14296 Glenwood Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Multi-Family
Bedrooms
14
Bathrooms
12
Full bathrooms
12
Rooms
Bedroom 4, Bedroom 11, Bedroom 3, Bathroom 4, Bathroom 11, Bedroom 9, Bedroom 14, Bedroom 2, Bathroom 6, Bedroom 12, Bedroom 6, Bedroom 8, Bathroom 9, Bathroom 12, Bathroom 5, Bedroom 7, Bathroom 2, Basement, Bedroom 1, Bathroom 7, Bedroom 5, Bathroom 8, Bathroom 10, Bathroom 1, Bedroom 10, Bathroom 3, Bedroom 13
Pets allowed
Yes
Subdivision
Seymour & Troesters Montclair Heights 2
Elementary school district
Detroit
Middle school district
Detroit
High school district
Detroit
Directions
I-94 to 14296 Glenwood St in Detroit, MI, use the following route:Take I-94 East toward Detroit.Take the Chalmers Street exit (Exit 223A) and head South on Chalmers St.Turn East (left) onto Maple Ridge St.Turn South (right) onto Glenwood St. The destination is on the right
Standard status
Active
APN
W21I018109S
Size
9,744 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Description
S GLENWOOD 805&804 SEYMOUR & TROESTERS MONTCLAIR HEIGHTS SUB NO 2 L40 P74 PLATS W C R 21/594 69 IRREG
Tax Annual Amount
6176
Legal Description
S GLENWOOD 805&804 SEYMOUR & TROESTERS MONTCLAIR HEIGHTS SUB NO 2 L40 P74 PLATS W C R 21/594 69 IRREG
Utilities
Heating system
Forced Air
Water source
Public
Building Details
Year built
1952
Floors in Building
2
Number of units
12
Building materials
Brick
Architectural style
Other
Listing Agency:
EXP Realty Main
(888) 501-7085
Listed By:
John Goci · License #6501389885
(734) 637-1430
Added: Jun 11
Changed: Sep 13
Last Checked: Sep 26 at 12:06AM
MLS# 20261044183
Copyright © 2026 Realcomp Limited II. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This six-property Detroit multifamily portfolio is being offered as one package rather than as separate assets. The group includes a renovated and occupied room-rental property with 62 rentable beds, plus five additional apartment buildings in different stages of redevelopment. The properties range from 18 to 30 units, with brick exteriors at the vacant buildings.
The listed 14296 Glenwood Street property is a 20-unit apartment building approximately 50% rehabilitated. Rough electrical and plumbing work has been completed and approved. Other portfolio assets include 30-unit, 20-unit, 18-unit, and 18-unit apartment buildings that have been cleaned out, boarded, secured, and dried-in. The portfolio is zoned Multi-Family. The Glenwood Street building contains 9744 square feet on 0.17 acres, was built in 1952, and has forced-air heating and public water.
The listed 14296 Glenwood Street property is a 20-unit apartment building approximately 50% rehabilitated. Rough electrical and plumbing work has been completed and approved. Other portfolio assets include 30-unit, 20-unit, 18-unit, and 18-unit apartment buildings that have been cleaned out, boarded, secured, and dried-in. The portfolio is zoned Multi-Family. The Glenwood Street building contains 9744 square feet on 0.17 acres, was built in 1952, and has forced-air heating and public water.
Key Highlights
- Six Detroit multifamily properties offered together as one portfolio package
- 14296 Glenwood Street: 20‑unit building approximately 50% rehabilitated
- Rough electrical and plumbing work completed and approved at the Glenwood property
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$102,221
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.41%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,044,420
$2.0M
Cap Rate 7%
$1,460,300
$1.5M
Cap Rate 9%
$1,135,789
$1.1M
Market Conditions
NOI Build-Up for 9,744 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$198.8K $20.40/SF
− Vacancy
−$12.9K −$1.33/SF
EGI
$185.9K $19.07/SF
− OpEx
−$83.6K −$8.58/SF
NOI
$102.2K $10.49/SF
Area
Detroit, MI
Vacancy
6.50%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,044,420
Cap Rate 7%
$1,460,300
Cap Rate 9%
$1,135,789
Alternative Uses
Best Use
Apartment 5plus
$1.46M
$1.28M – $1.70M
NOI $102,221 @ 7.0% cap · market cap 3.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.15M
$1.88M – $2.51M
NOI $150,469 @ 7.0% cap · market cap 5.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
439
Businesses Nearby
Explore this area
Business Placement
Demographics for 48205, MI
34,056
Population
17,102
Households
2
Avg Household Size
32
Median Age
9%
College-Educated
85%
High-School Grad
6.4 sq mi
ZIP Area
5,321
Density / Sq Mi
$40,612
Median Household Income
$30,833
Median Earnings
$1,149
Median Rent
$55,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Six Detroit apartment properties are offered together, including one occupied bed-rental asset and five buildings at varying rehabilitation stages.
Where is this apartment building located?
The property is located at 14296 Glenwood Street Detroit, MI.
What is the asking price?
The asking price for this property is $2,999,999.
What are key features of this property?
This property features: Six Detroit multifamily properties offered together as one portfolio package; 14296 Glenwood Street: 20‑unit building approximately 50% rehabilitated; Rough electrical and plumbing work completed and approved at the Glenwood property
