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    21400 W 7 Mile Rd Detroit, MI 48219

    For Sale
    $4,800,000

    64-unit apartment complex with remodeling and property management in place.

    Lot size:
    2.28 Acres

    Property Features for 21400 W 7 Mile Rd

    General Information

    Lot size
    2.28 Acres

    Building Details

    Year built
    1955

    Source: Keller Williams Paint Creek Agent Justin Zehel

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

    Overview

    64-Unit Apartment Complex For Sale

    This is a 64-unit brick apartment complex comprised of 8 connected buildings, situated on a 2.28-acre site. The property features 24 two-bedroom units and 40 one-bedroom units. The location offers curb appeal. The property is 75% occupied. New electrical and plumbing have been completed in the buildings. There are 16 vacant units that need to be rehabbed, while all other units have been remodeled. All units have individual furnaces, with costs paid by tenants. A large parking lot is available for tenants. The property includes a property management office and a property manager is in place. This property is an opportunity for a cash buyer or bank financing. The property can be sold as a package with 3 other apartment complexes.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Detroit
    County
    Wayne
    State
    Michigan
    Longitude
    -83.254616
    Latitude
    42.429614

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    FAQs

    What type of property is this?
    Apartment building - 64-unit apartment complex with remodeling and property management in place.
    Where is this apartment building located?
    The property is located at 21400 W 7 Mile Rd Detroit, MI.
    What is the asking price?
    The asking price for this property is $4,800,000.
    What are key features of this property?
    This property features: - 64-unit brick apartment complex with good curb appeal; - High occupancy rate of 75%; - Remodeled units (majority)
    (248) 979-3466
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    21400 W 7 Mile Rd Detroit, MI 48219
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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
    21400 W 7 Mile Rd Detroit, MI 48219
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