14881 Schaefer Hwy Detroit, MI 48227
48-unit multifamily property with cash flow and growth potential.
Lot size:
0.70 AcresProperty Features for 14881 Schaefer Hwy
General Information
- Property type
- Investment
- Standard status
- Active
- Lot size
- 0.70 Acres
Building Details
- Year built
- 1965
Source:
Elliman
Listing Agent: Michael Mcclafferty
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
Multifamily Property in Northwest Detroit
Located in Northwest Detroit, the Stacey Ann property features 48 units. Constructed in 1965 and renovated in 2021, the multifamily property is currently 81% occupied. The property offers stable cash flow with potential for operational and rent growth. Increasing the net operating income may be achieved through lease-up, rent repositioning, and reduced management expenses. The property is part of the Detroit 2 Portfolio, which includes 83 total units. The portfolio is currently over 87% occupied and generates over $686,000 in annual income, presenting investors with a cash-flowing operation in a supply-constrained rental market.
Location Intelligence
Current Use by Public Records
Stacey Ann Apts.
Apartment Building
Location Insight
- Map
- Local Demand
- City
- Detroit
- County
- Wayne
- State
- Michigan
- Longitude
- -83.1792624
- Latitude
- 42.3984139
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - 48-unit multifamily property with 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: - Stable cash flow with significant room for operational and rent growth.; - Renovated in 2021.; - Part of Detroit 2 Portfolio (83 total units) with proven cash-flowing operation.
