12-Unit Apartment
12564 Pinehurst St, Detroit, MI 48204
For Sale
$580,000
Pending
Apartment property with renovated occupied units and owner-paid water service.
Property Size2,881 SF
Days on Market71
Property Features for 12564 Pinehurst St
General Information
Standard status
Size
Property subtype
Property Condition
Severity
Evidence
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Units
Listing Agency:
Elite Real Estate Professionals, Inc.
Listed By:
Keelie Thomas
(810) 333-2732
Source:
Elliman
Added: Sep 5
Changed: Nov 13
Last Checked: Nov 12 at 8:06AM
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 Elite Real Estate Professionals, Inc.
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Investment Insights
Based on property information with market context.
Built in 1927, this apartment property contains 12 units, including 10 one-bedroom, one-bath apartments and 2 studio units. Several occupied residences have received fresh paint and modern flooring, while vacant units may need additional updating. The layout provides a mix of conventional apartment and studio accommodations within one building.
Residents pay their own electric and gas costs, with water paid by ownership. The property is located at 12564 Pinehurst St in Detroit, Michigan 48204. Walk Score is 35, categorized as Car-Dependent; Bike Score is 50, categorized as Bikeable; and Transit Score is 42, categorized as Some Transit.
Residents pay their own electric and gas costs, with water paid by ownership. The property is located at 12564 Pinehurst St in Detroit, Michigan 48204. Walk Score is 35, categorized as Car-Dependent; Bike Score is 50, categorized as Bikeable; and Transit Score is 42, categorized as Some Transit.
Key Highlights
- 12‑unit apartment building constructed in 1927
- Unit mix includes 10 one‑bedroom, one‑bath apartments and 2 studios
- Several occupied units feature fresh paint and modern flooring
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,224
Cap Rate
5.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$604,480
$604.5K
Cap Rate 7%
$431,771
$431.8K
Cap Rate 9%
$335,822
$335.8K
Market Conditions
NOI Build-Up for 2,881 SF
Gross rent
$58.8K $20.40/SF
− Vacancy
−$3.8K −$1.33/SF
EGI
$55.0K $19.07/SF
− OpEx
−$24.7K −$8.58/SF
NOI
$30.2K $10.49/SF
Area
Detroit, MI
Vacancy
6.50%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$604,480
Cap Rate 7%
$431,771
Cap Rate 9%
$335,822
Alternative Uses
Best Use
Apartment 5plus
$431.8K
$377.8K – $503.7K
NOI $30,224 @ 7.0% cap · market cap 5.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$635.6K
$556.1K – $741.5K
NOI $44,489 @ 7.0% cap · market cap 7.67%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Lease Details
12
Residential units
Location Intelligence
Trade Area within ½ mile
283
Businesses Nearby
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Business Placement
Demographics for 48204, MI
21,738
Population
13,691
Households
1.6
Avg Household Size
37
Median Age
10%
College-Educated
83%
High-School Grad
5.0 sq mi
ZIP Area
4,348
Density / Sq Mi
$32,875
Median Household Income
$26,701
Median Earnings
$970
Median Rent
$53,600
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Detroit, MI
Properties on Market for Apartment buildings in Detroit
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - Apartment property with renovated occupied units and owner-paid water service.
Where is this apartment building located?
The property is located at 12564 Pinehurst St Detroit, MI.
What is the asking price?
The asking price for this property is $580,000.
What are key features of this property?
This property features: 12‑unit apartment building constructed in 1927; Unit mix includes 10 one‑bedroom, one‑bath apartments and 2 studios; Several occupied units feature fresh paint and modern flooring
