10-Unit Brick Apartment
12927 Plymouth Road, Detroit, MI 48227
For Sale
$499,000
Multifamily, 1 Story, Detroit, MI
Property Size4,467 SF
Lot Size0.28 Acres
Price / SF$111.71
Days on Market250
Property Features for 12927 Plymouth Road
General Information
Property type
Property subtype
Zoning
Bedrooms
Bathrooms
Full bathrooms
Rooms
Subdivision
Elementary school district
Middle school district
High school district
Directions
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Individually Metered Utilities
Taxes and HOA fees
Tax Description
Tax Annual Amount
Legal Description
Utilities
Heating system
Cooling system
Water source
Amenities
gated courtyard
Building Details
Year built
Floors in Building
Number of units
Building materials
Roof type
Architectural style
Buildings
Listing Agency:
RE/MAX Dream Properties · RE/MAX International
(248) 374-7700
Listed By:
Behzad Bokani
(248) 951-9555
Added: Mar 6
Changed: Oct 30
Last Checked: Nov 10 at 6:06PM
MLS# 20261014273
Copyright © 2026 Realcomp Limited II. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 10-unit apartment property contains 4,467 square feet and was built in 1955. The one-story ranch-style building has a brick exterior, asphalt roof, public water service, baseboard heating, and wall-unit cooling. A gated courtyard serves the property, and the apartments are fully leased. Tenants pay their own electric bills, including electricity used for baseboard heat.
The property is located at 12927 Plymouth Road in Detroit, Michigan, with two adjacent vacant parking lots at 12913 Plymouth Rd and 12901 Plymouth Rd. The additional parcels include a fenced parking lot. The property is zoned Multi-Family and occupies 0.28 acres. Reported operating performance includes an 8%+ cap rate.
The property is located at 12927 Plymouth Road in Detroit, Michigan, with two adjacent vacant parking lots at 12913 Plymouth Rd and 12901 Plymouth Rd. The additional parcels include a fenced parking lot. The property is zoned Multi-Family and occupies 0.28 acres. Reported operating performance includes an 8%+ cap rate.
Key Highlights
- 10‑unit apartment building with 4,467 square feet
- Fully leased multifamily property
- 8%+ cap rate
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,143
Cap Rate
9.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$902,860
$902.9K
Cap Rate 7%
$644,900
$644.9K
Cap Rate 9%
$501,589
$501.6K
Market Conditions
NOI Build-Up for 4,467 SF
Gross rent
$88.4K $19.80/SF
− Vacancy
−$6.4K −$1.43/SF
EGI
$82.1K $18.37/SF
− OpEx
−$36.9K −$8.27/SF
NOI
$45.1K $10.11/SF
Area
ZIP 48227
Vacancy
7.20%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$902,860
Cap Rate 7%
$644,900
Cap Rate 9%
$501,589
Alternative Uses
Best Use
Apartment 5plus
$644.9K
$564.3K – $752.4K
NOI $45,143 @ 7.0% cap · market cap 9.05%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$726.7K
$635.9K – $847.9K
NOI $50,872 @ 7.0% cap · market cap 10.19%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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Current Use
Lease Details
10
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
324
Businesses Nearby
Explore this area
Business Placement
Demographics for 48227, MI
40,266
Population
19,933
Households
2
Avg Household Size
36
Median Age
12%
College-Educated
83%
High-School Grad
7.5 sq mi
ZIP Area
5,369
Density / Sq Mi
$36,221
Median Household Income
$31,797
Median Earnings
$1,034
Median Rent
$70,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/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 - Fully leased multifamily property with a gated courtyard and separately metered electric baseboard heat.
Where is this apartment building located?
The property is located at 12927 Plymouth Road Detroit, MI.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 10‑unit apartment building with 4,467 square feet; Fully leased multifamily property; 8%+ cap rate
