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8207 Schaefer Hwy Detroit, MI 48228

For Sale
$2,800,000

Renovated apartment complex near Dearborn with high demand.

Lot size:
0.62 Acres

Property Features for 8207 Schaefer Hwy

General Information

Lot size
0.62 Acres

Building Details

Year built
1957

Source: Keller Williams Paint Creek Agent Justin Zehel

Displayed information is deemed reliable but is not guaranteed and should be independently verified.


Overview

Renovated 40-Unit Apartment Complex

This is a renovated 40-unit brick apartment complex, consisting of four connected two-story buildings, each containing 10 units. The unit mix includes 36 one-bedroom, one-bathroom units and 4 two-bedroom, one-bathroom units, situated on a 27,007 square foot site. The property currently has an 80% occupancy rate and features updated boilers and roof. An environmental assessment has been completed. The property includes a rear parking lot for tenants and a security system. A property manager is currently in place, offering the option for continued management or self-management. The complex is located near Dearborn and presents an opportunity for cash buyers or bank financing. The property can be sold as a package with three other apartment complexes.
Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Food Market Gym & Fitness

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

  • Map
  • Local Demand
City
Detroit
County
Wayne
State
Michigan
Longitude
-83.1776485
Latitude
42.3540669

FAQs

What type of property is this?
Apartment building - Renovated apartment complex near Dearborn with high demand.
Where is this apartment building located?
The property is located at 8207 Schaefer Hwy Detroit, MI.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: - Renovated 40-unit brick apartment complex.; - High demand building near Dearborn.; - Updated boilers and roof.
More about this property
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