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    5701-5707 Woodward St Wayne, MI 48184

    For Sale
    $1,647,700

    Two buildings with 16 units, strong rent roll.

    Lot size:
    0.15 Acres

    Property Features for 5701-5707 Woodward St

    General Information

    Lot size
    0.15 Acres

    Building Details

    Year built
    1966

    Source: Keller Williams Legacy Agent Hiba Saad

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

    Overview

    Two Apartment Buildings Investment Opportunity

    This investment opportunity features two separate apartment buildings. The first building is a two-story brick structure with eight two-bedroom units, each including private patios with sliding doors. A central laundry room with paid laundry facilities provides additional income. The second building contains eight one-bedroom units, also with a central laundry room. In total, there are 16 apartment units. The property includes a private parking lot with assigned spaces. Both buildings have a strong rent roll with full occupancy. All units are rented at market value with long-term tenants. Most of the units have been recently updated. A large center common area serves both buildings. Both buildings are fully city certified and ready for transfer.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Wayne
    County
    Wayne
    State
    Michigan
    Longitude
    -83.3901326
    Latitude
    42.2673501

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    FAQs

    What type of property is this?
    Apartment building - Two buildings with 16 units, strong rent roll.
    Where is this apartment building located?
    The property is located at 5701-5707 Woodward St Wayne, MI.
    What is the asking price?
    The asking price for this property is $1,647,700.
    What are key features of this property?
    This property features: - Two separate apartment buildings totaling 16 units.; - Strong rent roll with full occupancy and long-term tenants.; - Units rented at market value.
    (313) 920-8798
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    5701-5707 Woodward St Wayne, MI 48184
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