Stabilized Apartment Building in Eastpointe

22270 Kelly Rd, Eastpointe, MI 48021

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For Sale

$915,000

10-unit apartment building in Eastpointe, MI, 100% occupied.

Type:Investment

Property size:

6,000 SF

Price / SF:

$152/SF

HighLights

100% Occupied: Provides immediate and consistent rental income
Stabilized 10‑Unit Apartment Building offers a manageable investment
Grosses +$10,000 Per Month demonstrating strong monthly revenue
Annual Gross Potential Rent of $120,120 highlights significant yearly income potential
One Parking Space Per Unit: Provides a valuable amenity for residents
One Bedroom, One Bath Units appeals to a specific renter demographic

We can help!

Listing Contact

Brady Williams

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For Sale

$915,000

10-unit apartment building in Eastpointe, MI, 100% occupied.

Type:Investment

Property size:

6,000 SF

Price / SF:

$152/SF

Added:: Apr 21, 2026
Days on Market:: 53
Last Refresh:: Apr 21 at 1:07 am

Property Features for 22270 Kelly Rd

General Information

Standard status: Active
Size: 6,000 SF
Property subtype: Investment

Building Details

Year Built: 1967

We can help!

Listing Contact

Brady Williams

Listing agent Brady Williams

Listing office

Listing date Apr 21, 2026

Source Elliman

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

All listing content including descriptions, pricing, images are the copyrighted material of Brady Williams

HighLights

100% Occupied: Provides immediate and consistent rental income
Stabilized 10‑Unit Apartment Building offers a manageable investment
Grosses +$10,000 Per Month demonstrating strong monthly revenue
Annual Gross Potential Rent of $120,120 highlights significant yearly income potential
One Parking Space Per Unit: Provides a valuable amenity for residents
One Bedroom, One Bath Units appeals to a specific renter demographic

Overview

The property is a stabilized 10-unit apartment building located in Eastpointe, MI. The building consists of ten one-bedroom, one-bath units, each approximately 600 square feet. There is one building on the property, with one parking space provided for each unit. The property is 100% occupied and generates over $10,000 per month, resulting in an annual gross potential rent of $120,120. The location has a bike score of 43, indicating it is somewhat bikeable, and a walk score of 62, suggesting it is somewhat walkable.

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$110.2k	$18.36
− Vacancy	−$7.7k	−$1.29
EGI	$102.4k	$17.07
− OpEx	−$46.1k	−$7.68
NOI	$56.3k	$9.39

6,000 SF · lease $18.36/SF/yr · vacancy 7.00% · expense 45.00%

Alternative Uses

Best Use

Apartment 5plus

$805.0K

$704.3K – $939.1K (±1% cap)

NOI $56,347 @ 7.0% cap · market cap 6.16%

Second Best

—

no second resolved use

Theoretical Best

Specialty Retail

$1.12M

$982.9K – $1.31M (±1% cap)

NOI $78,631 @ 7.0% cap · market cap 8.59%

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

Location Intelligence

Current Use by Public Records

Kelly Pointes Apartments Apartment Building

Suggested Use

Location Insight

Map
Local Demand

City: Eastpointe
County: Macomb
State: Michigan
Longitude: -82.928565
Latitude: 42.462587

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For sale
Apartment buildings
MI
Eastpointe
48021
22270 Kelly Rd

What type of property is this?

Apartment building - 10-unit apartment building in Eastpointe, MI, 100% occupied.

Where is this apartment building located?

The property is located at 22270 Kelly Rd Eastpointe, MI.

What is the asking price?

The asking price for this property is $915,000.

What are key features of this property?

This property features: 100% Occupied: Provides immediate and consistent rental income; Stabilized 10‑Unit Apartment Building offers a manageable investment; Grosses +$10,000 Per Month demonstrating strong monthly revenue