Six-Property Apartment Building
10820 SCHOOLCRAFT Street, Detroit, MI 48238
For Sale
$2,999,999
Multifamily, 4-10 Story, Detroit, MI
Property Size8,516 SF
Lot Size0.09 Acres
Price / SF$352.28
Days on Market153
Property Features for 10820 SCHOOLCRAFT Street
General Information
Property type
Property subtype
Zoning
Bedrooms
Bathrooms
Full bathrooms
Rooms
Pets allowed
Elementary school district
Middle school district
High school district
Directions
Subdivision
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Description
Tax Annual Amount
Legal Description
Utilities
Water source
Building Details
Year built
Number of units
Building materials
Roof type
Architectural style
Listing Agency:
EXP Realty Main
Listed By:
John Goci · License MI #6501389885
(888) 501-7085
Added: Jun 11
Changed: Oct 25
Last Checked: Nov 10 at 2:06AM
MLS# 20261044001
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.
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Investment Insights
Based on property information with market context.
This Detroit multifamily package includes six properties offered together as one portfolio. The holdings range from a renovated, occupied single-room rental property with 62 rentable beds to apartment buildings requiring varying levels of rehabilitation. The Glenwood Street building contains 20 units and is approximately 50% rehabilitated, with rough electrical and plumbing work completed and approved. The Schoenherr Street properties contain 30, 20, and 18 units, while the Schoolcraft Road property contains 18 units.
The listed Schoolcraft Road asset is an 8,516-square-foot, brick apartment building constructed in 1930, with a rubber roof and public water service. The portfolio is zoned Multi-Family and includes properties at 14299 Fordham Street, 14296 Glenwood Street, 18036 Schoenherr Street, 18055 Schoenherr Street, 18029 Schoenherr Street, and 10820 Schoolcraft Road. The five non-operating buildings are described as cleaned out, secured, and dried-in, with one also having completed rough mechanical work.
The listed Schoolcraft Road asset is an 8,516-square-foot, brick apartment building constructed in 1930, with a rubber roof and public water service. The portfolio is zoned Multi-Family and includes properties at 14299 Fordham Street, 14296 Glenwood Street, 18036 Schoenherr Street, 18055 Schoenherr Street, 18029 Schoenherr Street, and 10820 Schoolcraft Road. The five non-operating buildings are described as cleaned out, secured, and dried-in, with one also having completed rough mechanical work.
Key Highlights
- Six Detroit apartment properties offered together as a single portfolio package
- Renovated and occupied room‑rental property with 62 rentable beds
- 14296 Glenwood Street: 20‑unit building approximately 50% rehabilitated
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$89,339
Cap Rate
2.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,786,780
$1.8M
Cap Rate 7%
$1,276,271
$1.3M
Cap Rate 9%
$992,656
$992.7K
Market Conditions
NOI Build-Up for 8,516 SF
Gross rent
$173.7K $20.40/SF
− Vacancy
−$11.3K −$1.33/SF
EGI
$162.4K $19.07/SF
− OpEx
−$73.1K −$8.58/SF
NOI
$89.3K $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 Rate 5%
$1,786,780
Cap Rate 7%
$1,276,271
Cap Rate 9%
$992,656
Alternative Uses
Best Use
Apartment 5plus
$1.28M
$1.12M – $1.49M
NOI $89,339 @ 7.0% cap · market cap 2.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.88M
$1.64M – $2.19M
NOI $131,506 @ 7.0% cap · market cap 4.38%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
345
Businesses Nearby
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Business Placement
Demographics for 48238, MI
25,747
Population
16,341
Households
1.6
Avg Household Size
37
Median Age
13%
College-Educated
84%
High-School Grad
5.4 sq mi
ZIP Area
4,768
Density / Sq Mi
$30,286
Median Household Income
$25,948
Median Earnings
$950
Median Rent
$58,700
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Detroit, MI
Properties on Market for Apartment buildings in Detroit
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - Six Detroit assets combine one operating room-rental property with five buildings at different rehabilitation stages.
Where is this apartment building located?
The property is located at 10820 SCHOOLCRAFT 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 apartment properties offered together as a single portfolio package; Renovated and occupied room‑rental property with 62 rentable beds; 14296 Glenwood Street: 20‑unit building approximately 50% rehabilitated
