Detroit Multifamily Investment
13660 Ohio Street, Detroit, MI 48238
MULTI_FAMILY - Other - Detroit, MI
Property size:
5,832 SFLot size:
0.28 AcresPrice / SF:
$124/SF- Added:
- Apr 16, 2026
- Days on Market:
- 37
- Last Refresh:
- May 22 at 3:06 am
Property Features for 13660 Ohio Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- Commercial
- Bedrooms
- 16
- Bathrooms
- 8
- Rooms
- Bedroom 7, Bedroom 1, Bathroom 4, Basement, Bedroom 5, Bathroom 2, Bedroom 16, Bedroom 4, Bedroom 9, Bedroom 2, Bedroom 15, Bedroom 8, Bathroom 7, Bedroom 10, Bedroom 6, Bedroom 12, Bathroom 1, Bathroom 6, Bathroom 3, Bedroom 14, Bathroom 5, Bedroom 3, Bedroom 11, Bathroom 8, Bedroom 13
- Pets allowed
- Call
- Standard status
- Active
- APN
- W16I033668S
- Size
- 5,832 SF
- Lot size
- 0.28 Acres
Taxes and HOA fees
- Tax Description
- E OHIO 118 THRU 116 JOHN M WELCH JRS WYOMING- SCHOOLCRAFT SUB L46 P98 PLATS, W C R 16/338 122.04 IRREG
- Tax Annual Amount
- 18932
Utilities
- Heating system
- Forced Air
- Water source
- Public
Building Details
- Year built
- 1927
- Floors in Building
- 2
- Number of units
- 8
- Building materials
- Brick
- Architectural style
- Other
Listing agent James T Silver License #6502374648 (248) 649-7200
Listing office Keller Williams Somerset 888 W Big Beaver Road #200, Troy, MI (248) 649-7200
Listing date Apr 16, 2026
MLS# 20261025626
Listing URL
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.
HighLights
- Turnkey 8‑unit multifamily property with 100% occupancy and all units updated and leased, providing immediate and consistent cash flow.
- Strong income generation of $1,000 per unit per month.
- Desirable Detroit location in the Davison‑Schoolcraft neighborhood, ensuring stable tenant demand and long‑term growth potential.
- Convenient access to Interstate 96 and proximity to major area anchors like University of Detroit Mercy and Detroit Golf Club.
- Each unit features 2 bedrooms and 1 full bathroom.
- Individual furnaces for each unit, with tenants responsible for gas and electric utilities.
Overview
This well-maintained multifamily property is located in Detroit's Davison-Schoolcraft neighborhood. The property features eight units, each with 2 bedrooms and 1 full bathroom. All units are updated and leased, with 100% occupancy. Each unit generates $1,000 per month. The property is located just off Interstate 96, providing easy access throughout Metro Detroit. It is also minutes from the University of Detroit Mercy, Detroit Golf Club, and nearby hospitals. The property is a fully occupied, income-producing property. The lot size is 0.28 acres and the property size is 5832 square feet. Each unit has its own furnace. Tenants pay for electrical and gas, while the landlord pays for water. The current seller has owned and managed the property for the last 20 years.
Financial Insights
Value Estimation Calculated for Apartment 5plus
Conservative
$679.8K
NOI $61,182 @ 9.00% cap · cautious / downside scenario
Moderate
$874.0K
NOI $61,182 @ 7.00% cap · market / base-case scenario
Aggressive
$1.22M
NOI $61,182 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
Calculated for Apartment 5plus
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $119.0k | $20.40 |
| − Vacancy | −$7.7k | −$1.33 |
| EGI | $111.2k | $19.07 |
| − OpEx | −$50.1k | −$8.58 |
| NOI | $61.2k | $10.49 |
5,832 SF · lease $20.40/SF/yr · vacancy 6.50% · expense 45.00%
Alternative Use Scenarios
Best Use
Apartment 5plus
$874.0K
$764.8K – $1.02M
NOI $61,182 @ 7.0% cap · market cap 8.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.29M
$1.13M – $1.50M
NOI $90,059 @ 7.0% cap · market cap 12.42%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Detroit
- County
- Wayne
- State
- Michigan
- Longitude
- -83.154869
- Latitude
- 42.388344
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Turnkey 8-unit property in desirable Detroit neighborhood.
Where is this apartment building located?
The property is located at 13660 Ohio Street Detroit, MI.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Turnkey 8‑unit multifamily property with 100% occupancy and all units updated and leased, providing immediate and consistent cash flow.; Strong income generation of $1,000 per unit per month.; Desirable Detroit location in the Davison‑Schoolcraft neighborhood, ensuring stable tenant demand and long‑term growth potential.
