23740 Fenkell St Detroit, MI 48223
New
- Added:
- Apr 24, 2026
- Days on Market:
- 5
- Last Refresh:
- Apr 24 at 3:34 pm
Property Features for 23740 Fenkell St
General Information
- Standard status
- Active
- Property subtype
- Investment
Building Details
- Year Built
- 1967
Listing agent Justin Zehel License #3598465 (248) 979-3466
Listing office Eagle Realty LLC d/b/a Keller Williams Eagle Realty (248) 979-3466
Listing date Apr 24, 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 Eagle Realty LLC d/b/a Keller Williams Eagle Realty
Overview
Detroit Multifamily Investment Opportunity
This well-maintained, 138-unit brick apartment community is located in a desirable area of Detroit, just off Telegraph Road on Fenkell Road. The stabilized asset consists of three buildings and is currently 98% occupied, offering strong in-place cash flow. The property operates at a 10% cap rate, with potential upside through rent increases. Numerous upgrades and remodeling have been completed in the past couple of years. The community is gated and features laundry facilities in each building. Hallways and a majority of units have been updated. Major systems have been well cared for, including boilers in excellent condition and a new flat roof. With no immediate capital expenditures required, this is a turnkey investment. The property has a Certificate of Compliance. The location has a bike score of 37, indicating it is somewhat bikeable, a walk score of 25, indicating car dependence, and a transit score of 32, indicating some transit options.
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Detroit
- County
- Wayne
- State
- Michigan
- Longitude
- -83.2738937
- Latitude
- 42.4008022
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Well-maintained, 138-unit apartment community with strong cash flow.
Where is this apartment building located?
The property is located at 23740 Fenkell St Detroit, MI.
What is the asking price?
The asking price for this property is $6,750,000.
What are key features of this property?
This property features: Stabilized 138‑unit apartment community with 98% occupancy, providing strong in‑place cash flow.; Attractive 10% cap rate with potential for increased revenue through modest rent increases.; Located in a highly desirable area of Detroit, off Telegraph Road on Fenkell Road.
