Brick Multi-Family Portfolio with
For Sale
$2,999,999
14296 Glenwood Street, Detroit, MI 48205
MULTI_FAMILY - Detroit, MI
Property Size9,744 SF
Lot Size0.17 Acres
Price / SF$307.88
Days on Market59
Property Features for 14296 Glenwood Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Multi-Family
Bedrooms
14
Bathrooms
12
Full bathrooms
12
Rooms
Bathroom 6, Bedroom 7, Bedroom 6, Bathroom 2, Bathroom 10, Bedroom 4, Bedroom 14, Bathroom 11, Bedroom 13, Bedroom 8, Basement, Bathroom 5, Bedroom 2, Bedroom 11, Bathroom 8, Bedroom 10, Bedroom 3, Bedroom 12, Bedroom 5, Bedroom 9, Bathroom 1, Bathroom 12, Bathroom 9, Bathroom 3, Bathroom 7, Bathroom 4, Bedroom 1
Pets allowed
Yes
Subdivision
Seymour & Troesters Montclair Heights 2
Elementary school district
Detroit
Middle school district
Detroit
High school district
Detroit
Directions
I-94 to 14296 Glenwood St in Detroit, MI, use the following route:Take I-94 East toward Detroit.Take the Chalmers Street exit (Exit 223A) and head South on Chalmers St.Turn East (left) onto Maple Ridge St.Turn South (right) onto Glenwood St. The destination is on the right
Standard status
Active
APN
W21I018109S
Size
9,744 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Description
S GLENWOOD 805&804 SEYMOUR & TROESTERS MONTCLAIR HEIGHTS SUB NO 2 L40 P74 PLATS W C R 21/594 69 IRREG
Tax Annual Amount
6176
Legal Description
S GLENWOOD 805&804 SEYMOUR & TROESTERS MONTCLAIR HEIGHTS SUB NO 2 L40 P74 PLATS W C R 21/594 69 IRREG
Utilities
Heating system
Forced Air
Water source
Public
Building Details
Year built
1952
Floors in Building
2
Number of units
12
Building materials
Brick
Architectural style
Other
Listing Agency:
EXP Realty Main
(888) 501-7085
Listed By:
John Goci · License #6501389885
(888) 501-7085
Added: Jun 11
Changed: Aug 2
Last Checked: Aug 8 at 11:06AM
MLS# 20261044183
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.
Investment Insights
Based on property information with market context.
This multi-family portfolio is offered as a single package with six apartment properties, and the seller will not consider individual property sales. The portfolio includes 14299 Fordham Street (fully renovated and occupied, operating as a single-room rental with 62 rentable beds), plus 14296 Glenwood Street (a 20-unit apartment building approximately 50% rehabilitated, with rough electrical and plumbing work completed and approved).
Additional properties in the package are 18036 Schoenherr Street (30-unit brick building, cleaned out, boarded, secured, and dried-in), 18055 Schoenherr Street (20-unit brick building, cleaned out, boarded, secured, and dried-in), 18029 Schoenherr Street (18-unit brick building, cleaned out, boarded, secured, and dried-in), and 10820 Schoolcraft Road (18-unit brick building, cleaned out, boarded, secured, and dried-in).
For the listed parcel, the property features brick construction, forced air heating, public water service, and was built in 1952. Proof of funds is required prior to any showings.
Additional properties in the package are 18036 Schoenherr Street (30-unit brick building, cleaned out, boarded, secured, and dried-in), 18055 Schoenherr Street (20-unit brick building, cleaned out, boarded, secured, and dried-in), 18029 Schoenherr Street (18-unit brick building, cleaned out, boarded, secured, and dried-in), and 10820 Schoolcraft Road (18-unit brick building, cleaned out, boarded, secured, and dried-in).
For the listed parcel, the property features brick construction, forced air heating, public water service, and was built in 1952. Proof of funds is required prior to any showings.
Key Highlights
- Six‑property multi‑family portfolio sold together only
- 14296 Glenwood Street: 20‑unit building ~50% rehabilitated; rough electrical and plumbing completed and approved
- 14299 Fordham Street: fully renovated and occupied single‑room rental with 62 rentable beds
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$102,221
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.41%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,044,420
$2.0M
Cap Rate 7%
$1,460,300
$1.5M
Cap Rate 9%
$1,135,789
$1.1M
Market Conditions
NOI Build-Up for 9,744 SF
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.
Gross rent
$198.8K $20.40/SF
− Vacancy
−$12.9K −$1.33/SF
EGI
$185.9K $19.07/SF
− OpEx
−$83.6K −$8.58/SF
NOI
$102.2K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,044,420
Cap Rate 7%
$1,460,300
Cap Rate 9%
$1,135,789
Alternative Uses
Best Use
Apartment 5plus
$1.46M
$1.28M – $1.70M
NOI $102,221 @ 7.0% cap · market cap 3.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.15M
$1.88M – $2.51M
NOI $150,469 @ 7.0% cap · market cap 5.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
380
Businesses Nearby
Explore this area
Business Placement
Demographics for 48205, MI
34,056
Population
17,102
Households
2
Avg Household Size
32
Median Age
9%
College-Educated
85%
High-School Grad
6.4 sq mi
ZIP Area
5,321
Density / Sq Mi
$40,612
Median Household Income
$30,833
Median Earnings
$1,149
Median Rent
$55,700
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 - Zoned multi-family with brick construction and forced-air heating, offered as a six-property portfolio sold together only.
Where is this apartment building located?
The property is located at 14296 Glenwood Street Detroit, MI.
What is the asking price?
The asking price for this property is $2,999,999.
What are key features of this property?
This property features: Six‑property multi‑family portfolio sold together only; 14296 Glenwood Street: 20‑unit building ~50% rehabilitated; rough electrical and plumbing completed and approved; 14299 Fordham Street: fully renovated and occupied single‑room rental with 62 rentable beds
