60-Unit Section 8 Apartment
For Sale
$3,900,000
15860 Joy Rd, Detroit, MI 48228
Recently remodeled 60-unit apartment complex with 100% occupancy and a unit mix of one- and two-bedroom homes.
Property Size84,557 SF
Lot Size2.00 Acres
Days on Market29
Property Features for 15860 Joy Rd
General Information
Standard status
Active
Size
84,557 SF
Lot size
2.00 Acres
Property subtype
Investment
Occupancy
100%
Additional Details
Multifamily Units
60
Taxes and HOA fees
Annual Taxes
$30,886
Building Details
Building Size
84,557 SF
Year Built
1951
Units
60
Tenancy
Multi
Listing Agency:
KW Domain
(248) 207-2994
Listed By:
Lauryn Johnson · License #6501462908
(248) 207-2994
Source:
Elliman
Added: Jul 14
Changed: Aug 8
Last Checked: Aug 10 at 6:29AM
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 KW Domain
Investment Insights
Based on property information with market context.
Greenfield Villas is a 60-unit apartment complex recently remodeled throughout, currently described as 100% occupied. The property includes 36 two-bedroom units and 24 one-bedroom units, and is positioned on a 2-acre lot. Reported upgrades include a brand new 40-year roof, newer heating system, brand new plumbing, new windows, new gutter and trim, and refreshed interior finishes with new paint and new carpet with underlayment. The electrical has been upgraded in each unit.
The property is described as an all–Section 8 compound, with tenants responsible for utilities. The listing also notes the complex is located about 6 minutes from the historic city of Dearborn, in a quiet Oakman Boulevard neighborhood of homeowners.
The information provided states no showings will be scheduled without an accepted full list offer.
The property is described as an all–Section 8 compound, with tenants responsible for utilities. The listing also notes the complex is located about 6 minutes from the historic city of Dearborn, in a quiet Oakman Boulevard neighborhood of homeowners.
The information provided states no showings will be scheduled without an accepted full list offer.
Key Highlights
- 60‑unit apartment complex on a 2‑acre lot; 36 two‑bedroom and 24 one‑bedroom units with 100% occupancy
- All units leased to Section 8 tenants; tenants pay all utilities
- Recently remodeled with brand‑new 40‑year roof described as 400 square and new windows, gutters, and trim
Property Analytics
Property Profile
Current Use
Lease Details
60
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
408
Businesses Nearby
Explore this area
Business Placement
Demographics for 48228, MI
53,893
Population
22,620
Households
2.4
Avg Household Size
31
Median Age
11%
College-Educated
78%
High-School Grad
8.9 sq mi
ZIP Area
6,055
Density / Sq Mi
$31,485
Median Household Income
$27,533
Median Earnings
$1,086
Median Rent
$55,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Recently remodeled 60-unit apartment complex with 100% occupancy and a unit mix of one- and two-bedroom homes.
Where is this apartment building located?
The property is located at 15860 Joy Rd Detroit, MI.
What is the asking price?
The asking price for this property is $3,900,000.
What are key features of this property?
This property features: 60‑unit apartment complex on a 2‑acre lot; 36 two‑bedroom and 24 one‑bedroom units with 100% occupancy; All units leased to Section 8 tenants; tenants pay all utilities; Recently remodeled with brand‑new 40‑year roof described as 400 square and new windows, gutters, and trim
