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14881 Schaefer Hwy Detroit, MI 48227

For Sale
$1,900,000

48-unit multifamily property with stabilized cash flow and growth potential.

Lot size:
0.70 Acres

Property Features for 14881 Schaefer Hwy

General Information

Lot size
0.70 Acres

Building Details

Year built
1965

Source: OakPointe Real Estate Advisors Agent Michael McClafferty

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


Overview

Northwest Detroit Multifamily Investment

Located in Northwest Detroit, this 48-unit multifamily property, known as Stacey Ann, presents a stabilized cash flow opportunity with potential for operational and rent growth. Constructed in 1965 and renovated in 2021, the property maintains an 81% occupancy rate. The property offers a clear path to increase net operating income through lease-up strategies, rent repositioning, and reduced management expenses. This property is part of the Detroit 2 Portfolio, which consists of 83 total units. The portfolio is currently operating at over 87% occupancy and generating over $686,000 in annual income, presenting investors with a cash-flowing operation that has upside in a supply-constrained rental market.
Location Intelligence

Current Use by Public Records

Stacey Ann Apts. Apartment Building

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
Detroit
County
Wayne
State
Michigan
Longitude
-83.1792624
Latitude
42.3984139

FAQs

What type of property is this?
Apartment building - 48-unit multifamily property with stabilized cash flow and growth potential.
Where is this apartment building located?
The property is located at 14881 Schaefer Hwy Detroit, MI.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: - Stabilized cash flow with significant potential for operational and rent growth.; - Renovated in 2021.; - Part of Detroit 2 Portfolio (83 total units) with proven cash-flowing operation.
More about this property
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