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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

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)
More about this property
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